Zacks Investment Research downgraded shares of Soleno Therapeutics (NASDAQ:SLNO) from a buy rating to a hold rating in a report released on Tuesday.
According to Zacks, “Soleno Therapeutics Inc. is a healthcare company. It develops and commercializes diagnostics, devices and therapeutics addressing unmet medical needs. The Company offers products consists of CoSense end-tidal carbon monoxide Monitor, NeoPIP Infant Resuscitator and Accessories and Serenz Nasal Relief. Soleno Therapeutics Inc., formerly known as Capnia Inc., is based in Vancouver, Canada. “
Several other research analysts also recently issued reports on the company. Maxim Group reaffirmed a buy rating and issued a $4.00 price objective on shares of Soleno Therapeutics in a research note on Monday, September 17th. ValuEngine raised Soleno Therapeutics from a hold rating to a buy rating in a research note on Tuesday, July 10th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The company currently has a consensus rating of Buy and a consensus price target of $6.50.
Shares of Soleno Therapeutics stock traded up $0.03 on Tuesday, hitting $2.10. The stock had a trading volume of 101 shares, compared to its average volume of 48,223. Soleno Therapeutics has a twelve month low of $1.32 and a twelve month high of $3.60. The company has a market capitalization of $43.26 million, a P/E ratio of -1.56 and a beta of 4.29.
Soleno Therapeutics (NASDAQ:SLNO) last released its quarterly earnings data on Tuesday, August 14th. The company reported ($0.36) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.24) by ($0.12). As a group, equities research analysts predict that Soleno Therapeutics will post -1.11 EPS for the current fiscal year.
In other Soleno Therapeutics news, major shareholder Technology Partners Fund Vii L sold 22,682 shares of the stock in a transaction that occurred on Thursday, September 13th. The shares were sold at an average price of $2.03, for a total transaction of $46,044.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 43.27% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the business. Vivo Capital LLC increased its position in Soleno Therapeutics by 8.1% during the 2nd quarter. Vivo Capital LLC now owns 4,359,683 shares of the company’s stock valued at $10,202,000 after purchasing an additional 326,149 shares during the period. Trellus Management Company LLC acquired a new stake in Soleno Therapeutics during the 2nd quarter valued at approximately $302,000. Finally, Dimensional Fund Advisors LP acquired a new stake in Soleno Therapeutics during the 2nd quarter valued at approximately $104,000. 44.25% of the stock is owned by institutional investors and hedge funds.
About Soleno Therapeutics
Soleno Therapeutics, Inc focuses on the development and commercialization of novel therapeutics for the treatment of rare diseases. Its lead candidate, diazoxide choline controlled-release (DCCR), a tablet for the treatment of Prader-Willi Syndrome (PWS), is entering into late-stage clinical development.
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