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

Soleno Therapeutics, Inc. (NASDAQ:SLNO) gapped up before the market opened 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 trading hands.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on SLNO shares. Zacks Research cut Soleno Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 3rd. Wolfe Research set a $60.00 price objective on shares of Soleno Therapeutics in a research report on Monday, January 12th. HC Wainwright dropped their price target on shares of Soleno Therapeutics from $120.00 to $100.00 and set a “buy” rating for the company in a research note on Wednesday. TD Cowen cut their price target on shares of Soleno Therapeutics from $120.00 to $85.00 and set a “buy” rating on the stock in a report on Thursday, February 26th. Finally, Wall Street Zen downgraded shares of Soleno Therapeutics from a “buy” rating to a “hold” rating in a research note on Saturday. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $106.85.

Soleno Therapeutics Trading Down 3.4%

The stock’s 50-day moving average price is $42.20 and its 200 day moving average price is $52.62. The company has a debt-to-equity ratio of 0.11, a current ratio of 5.80 and a quick ratio of 5.55. The firm has a market capitalization of $1.95 billion, a PE ratio of 164.01 and a beta of -3.16.

Soleno Therapeutics (NASDAQ:SLNO) last announced its quarterly earnings data on Wednesday, February 25th. The company reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.16. The firm had revenue of $91.73 million during the quarter, compared to the consensus estimate of $88.55 million. On average, sell-side analysts expect that Soleno Therapeutics, Inc. will post -3.72 EPS for the current fiscal year.

Institutional Trading of Soleno Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd bought a new position in Soleno Therapeutics during the 4th quarter worth about $38,000. Seven Fleet Capital Management LP purchased a new stake in shares of Soleno Therapeutics in the 4th quarter worth approximately $6,023,000. Virtu Financial LLC bought a new position in shares of Soleno Therapeutics during the fourth quarter valued at approximately $1,059,000. Empowered Funds LLC purchased a new position in Soleno Therapeutics during the fourth quarter valued at approximately $69,000. Finally, KVP Capital Advisors LP purchased a new position in Soleno Therapeutics during the fourth quarter valued at approximately $2,764,000. 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.