Soleno Therapeutics (NASDAQ:SLNO) Hits New 52-Week Low – Here’s What Happened

Soleno Therapeutics, Inc. (NASDAQ:SLNO)’s stock price reached a new 52-week low during trading on Wednesday . The company traded as low as $32.15 and last traded at $33.1560, with a volume of 107899 shares trading hands. The stock had previously closed at $33.62.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Zacks Research cut Soleno Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 3rd. Wells Fargo & Company decreased their target price on shares of Soleno Therapeutics from $114.00 to $110.00 and set an “overweight” rating on the stock in a research report on Friday, February 27th. TD Cowen lowered their target price 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, February 26th. Wolfe Research set a $60.00 price target on shares of Soleno Therapeutics in a research report on Monday, January 12th. Finally, Robert W. Baird set a $107.00 price target on shares of Soleno Therapeutics in a research note on Tuesday, January 13th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Soleno Therapeutics has an average rating of “Moderate Buy” and an average target price of $106.85.

Soleno Therapeutics Stock Down 0.9%

The company has a market capitalization of $1.72 billion, a PE ratio of 144.72 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. The business has a fifty day moving average of $40.25 and a 200 day moving average of $50.45.

Soleno Therapeutics (NASDAQ:SLNO) last issued its quarterly earnings results on Wednesday, February 25th. The company reported $0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.16. The business had revenue of $91.73 million for the quarter, compared to analysts’ expectations of $88.55 million. Equities research analysts anticipate that Soleno Therapeutics, Inc. will post -3.72 EPS for the current year.

Hedge Funds Weigh In On Soleno Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SLNO. Wellington Management Group LLP raised its stake in shares of Soleno Therapeutics by 272.3% in the third quarter. Wellington Management Group LLP now owns 2,312,095 shares of the company’s stock valued at $156,298,000 after acquiring an additional 1,691,057 shares in the last quarter. Braidwell LP purchased a new position in Soleno Therapeutics in the third quarter valued at $86,662,000. Janus Henderson Group PLC grew its stake in Soleno Therapeutics by 18.5% during the 4th quarter. Janus Henderson Group PLC now owns 7,178,354 shares of the company’s stock worth $332,302,000 after purchasing an additional 1,122,015 shares in the last quarter. Invesco Ltd. increased its holdings in Soleno Therapeutics by 132.3% during the 3rd quarter. Invesco Ltd. now owns 1,500,525 shares of the company’s stock worth $101,435,000 after purchasing an additional 854,551 shares during the period. Finally, Commodore Capital LP increased its holdings in Soleno Therapeutics by 121.3% during the 3rd quarter. Commodore Capital LP now owns 1,350,000 shares of the company’s stock worth $91,260,000 after purchasing an additional 740,000 shares during the period. Hedge funds and other institutional investors 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.