Soleno Therapeutics (NASDAQ:SLNO) Downgraded to “Hold” at Zacks Investment Research

Zacks Investment Research downgraded shares of Soleno Therapeutics (NASDAQ:SLNO) from a buy rating to a hold rating in a research report report published on Wednesday morning, Zacks.com reports.

According to Zacks, “Soleno Therapeutics Inc. is a healthcare company. It develops and commercializes diagnostics, devices and therapeutics addressing unmet medical needs. The Company offers products consists of CoSense end-tidal carbon monoxide Monitor, NeoPIP Infant Resuscitator and Accessories and Serenz Nasal Relief. Soleno Therapeutics Inc., formerly known as Capnia Inc., is based in Vancouver, Canada. “

SLNO opened at $0.42 on Wednesday. The company has a 50-day moving average of $0.58 and a 200-day moving average of $0.79. The company has a market capitalization of $33.52 million, a P/E ratio of -1.08 and a beta of 0.32. Soleno Therapeutics has a 1-year low of $0.40 and a 1-year high of $3.36.

Soleno Therapeutics (NASDAQ:SLNO) last released its earnings results on Wednesday, November 10th. The company reported ($0.10) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.11) by $0.01. As a group, sell-side analysts expect that Soleno Therapeutics will post -0.43 earnings per share for the current year.

Large investors have recently made changes to their positions in the stock. Bollard Group LLC bought a new stake in shares of Soleno Therapeutics during the 2nd quarter valued at about $39,000. BlackRock Inc. grew its position in shares of Soleno Therapeutics by 868.8% during the 3rd quarter. BlackRock Inc. now owns 129,773 shares of the company’s stock valued at $120,000 after buying an additional 116,378 shares during the last quarter. Goldman Sachs Group Inc. grew its position in shares of Soleno Therapeutics by 85.2% during the 2nd quarter. Goldman Sachs Group Inc. now owns 109,382 shares of the company’s stock valued at $124,000 after buying an additional 50,305 shares during the last quarter. Millennium Management LLC bought a new stake in shares of Soleno Therapeutics during the 2nd quarter valued at about $222,000. Finally, Ergoteles LLC bought a new stake in shares of Soleno Therapeutics during the 2nd quarter valued at about $309,000. 36.79% of the stock is owned by institutional investors and hedge funds.

About Soleno Therapeutics

Soleno Therapeutics, Inc engages in the development and commercialization of novel therapeutics for the treatment of rare diseases. The firm focuses on the treatment of metabolic and neurobehavioral disorder. It offers its lead candidate, Diazoxide Choline Controlled-Release (DCCR), an oral tablet for the treatment of Prader-Willi Syndrome (PWS).

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