Soleno Therapeutics (NASDAQ:SLNO) Reaches New 52-Week Low – Time to Sell?

Soleno Therapeutics, Inc. (NASDAQ:SLNO) reached a new 52-week low during trading on Tuesday . The company traded as low as $40.00 and last traded at $41.54, with a volume of 3493251 shares trading hands. The stock had previously closed at $43.00.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on SLNO shares. Zacks Research raised shares of Soleno Therapeutics from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 5th. The Goldman Sachs Group set a $125.00 price target on Soleno Therapeutics and gave the stock a “buy” rating in a research note on Tuesday, October 7th. Weiss Ratings reissued a “sell (d-)” rating on shares of Soleno Therapeutics in a report on Wednesday, October 8th. Robert W. Baird set a $107.00 price objective on Soleno Therapeutics in a research note on Tuesday. Finally, Wall Street Zen upgraded Soleno Therapeutics from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $109.23.

Soleno Therapeutics Stock Up 2.3%

The company has a debt-to-equity ratio of 0.10, a current ratio of 16.08 and a quick ratio of 15.88. The stock’s fifty day simple moving average is $47.72 and its 200-day simple moving average is $63.17. The stock has a market cap of $2.28 billion, a P/E ratio of -23.08 and a beta of -3.12.

Soleno Therapeutics (NASDAQ:SLNO) last announced its quarterly earnings results on Tuesday, November 4th. The company reported $0.47 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.39. The company had revenue of $66.02 million for the quarter, compared to analyst estimates of $47.46 million. On average, research analysts anticipate that Soleno Therapeutics, Inc. will post -3.72 earnings per share for the current year.

Hedge Funds Weigh In On Soleno Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of SLNO. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Soleno Therapeutics by 1.1% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,360 shares of the company’s stock worth $1,242,000 after acquiring an additional 189 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Soleno Therapeutics during the 2nd quarter valued at about $25,000. Avanza Fonder AB grew its position in Soleno Therapeutics by 11.2% in the 4th quarter. Avanza Fonder AB now owns 3,195 shares of the company’s stock worth $148,000 after purchasing an additional 323 shares during the last quarter. Principal Financial Group Inc. grew its position in Soleno Therapeutics by 11.9% in the 3rd quarter. Principal Financial Group Inc. now owns 3,197 shares of the company’s stock worth $216,000 after purchasing an additional 340 shares during the last quarter. Finally, New York State Common Retirement Fund increased 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 purchasing an additional 360 shares during the period. Institutional investors and hedge funds own 97.42% of the company’s stock.

Soleno Therapeutics Company Profile

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.