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

Soleno Therapeutics, Inc. (NASDAQ:SLNO)’s share price reached a new 52-week low during trading on Wednesday . The stock traded as low as $36.67 and last traded at $38.50, with a volume of 964134 shares. The stock had previously closed at $37.24.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Robert W. Baird set a $107.00 target price on shares of Soleno Therapeutics in a research report on Tuesday, January 13th. Wall Street Zen raised shares of Soleno Therapeutics from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. Wells Fargo & Company reiterated an “overweight” rating and issued a $114.00 price objective (up previously from $106.00) on shares of Soleno Therapeutics in a report on Tuesday, January 20th. Weiss Ratings reissued a “sell (d-)” rating on shares of Soleno Therapeutics in a research report on Thursday, January 22nd. Finally, HC Wainwright reaffirmed a “buy” rating and set a $120.00 target price (up from $110.00) on shares of Soleno Therapeutics in a research report on Tuesday, January 20th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $110.62.

Soleno Therapeutics Trading Down 0.1%

The firm’s 50-day moving average price is $43.59 and its 200 day moving average price is $55.01. The company has a debt-to-equity ratio of 0.10, a quick ratio of 15.88 and a current ratio of 16.08.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Empowered Funds LLC acquired a new stake in Soleno Therapeutics during the fourth quarter worth about $69,000. KVP Capital Advisors LP bought a new position in shares of Soleno Therapeutics during the fourth quarter valued at approximately $2,764,000. XTX Topco Ltd acquired a new stake in shares of Soleno Therapeutics during the 4th quarter worth approximately $1,680,000. Virtus Investment Advisers LLC lifted its holdings in shares of Soleno Therapeutics by 260.5% in the 4th quarter. Virtus Investment Advisers LLC now owns 5,116 shares of the company’s stock worth $237,000 after purchasing an additional 3,697 shares during the last quarter. Finally, Wellington Management Group LLP boosted its position in Soleno Therapeutics by 43.7% during the 4th quarter. Wellington Management Group LLP now owns 3,322,799 shares of the company’s stock valued at $153,846,000 after purchasing an additional 1,010,704 shares during the period. 97.42% of the stock is currently owned by institutional investors.

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.