Soleno Therapeutics (NASDAQ:SLNO) Shares Gap Up – Still a Buy?

Soleno Therapeutics, Inc. (NASDAQ:SLNO) shares gapped up prior to trading on Monday . The stock had previously closed at $39.07, but opened at $41.48. Soleno Therapeutics shares last traded at $38.9490, with a volume of 343,815 shares changing hands.

Wall Street Analyst Weigh In

SLNO has been the topic of a number of recent research reports. Zacks Research lowered Soleno Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 3rd. Weiss Ratings restated a “sell (d-)” rating on shares of Soleno Therapeutics in a report on Thursday, January 22nd. Wall Street Zen lowered shares of Soleno Therapeutics from a “buy” rating to a “hold” rating in a research note on Saturday. TD Cowen reduced their price objective on shares of Soleno Therapeutics from $120.00 to $85.00 and set a “buy” rating for the company in a research note on Thursday. Finally, Wells Fargo & Company dropped their target price on Soleno Therapeutics from $114.00 to $110.00 and set an “overweight” rating on the stock in a report on Friday. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Soleno Therapeutics presently has a consensus rating of “Moderate Buy” and an average target price of $108.38.

Soleno Therapeutics Trading Up 2.1%

The business has a 50 day moving average of $42.63 and a two-hundred day moving average of $53.13. The firm has a market cap of $2.06 billion, a P/E ratio of 173.33 and a beta of -3.16. The company has a current ratio of 5.80, a quick ratio of 5.55 and a debt-to-equity ratio of 0.11.

Soleno Therapeutics (NASDAQ:SLNO) last issued its quarterly earnings data on Wednesday, February 25th. The company reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.16. The company had revenue of $91.73 million during the quarter, compared to the consensus estimate of $88.55 million. Analysts predict that Soleno Therapeutics, Inc. will post -3.72 earnings per share for the current year.

Hedge Funds Weigh In On Soleno Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in SLNO. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Soleno Therapeutics by 1.1% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,360 shares of the company’s stock worth $1,242,000 after purchasing an additional 189 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Soleno Therapeutics during the second quarter worth $25,000. Avanza Fonder AB lifted its holdings in shares of Soleno Therapeutics by 11.2% during the fourth quarter. Avanza Fonder AB now owns 3,195 shares of the company’s stock worth $148,000 after buying an additional 323 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of Soleno Therapeutics by 11.9% in the third quarter. Principal Financial Group Inc. now owns 3,197 shares of the company’s stock valued at $216,000 after acquiring an additional 340 shares during the period. Finally, New York State Common Retirement Fund grew its stake in shares of Soleno Therapeutics by 2.4% in the third quarter. New York State Common Retirement Fund now owns 15,600 shares of the company’s stock valued at $1,055,000 after acquiring an additional 360 shares in the last quarter. Institutional investors and hedge funds own 97.42% of the company’s stock.

About Soleno Therapeutics

Soleno Therapeutics, Inc is a clinical‐stage biopharmaceutical company focused on the development and commercialization of therapies for rare and orphan diseases. Headquartered in Redwood City, California, Soleno leverages a precision medicine approach to identify and advance small‐molecule treatments that address underlying genetic and metabolic dysfunctions. The company’s scientific strategy centers on repurposing and reformulating existing compounds to maximize therapeutic benefit in underserved patient populations.

The company’s lead candidate, diazoxide choline controlled release (DCCR), is being investigated for the treatment of Prader-Willi syndrome (PWS), a complex neurodevelopmental disorder characterized by insatiable appetite, hormonal imbalances and behavioral challenges.