Soleno Therapeutics (NASDAQ:SLNO) Receives New Coverage from Analysts at Laidlaw

Laidlaw initiated coverage on shares of Soleno Therapeutics (NASDAQ:SLNO) in a report released on Monday morning, The Fly reports. The firm issued a buy rating and a $10.00 target price on the stock.

Several other equities research analysts have also commented on SLNO. Zacks Investment Research upgraded shares of Zurich Insurance Group from a sell rating to a hold rating in a research note on Saturday, May 18th. ValuEngine upgraded shares of YPF from a sell rating to a hold rating in a research note on Monday, June 24th.

NASDAQ:SLNO opened at $2.98 on Monday. The stock has a market cap of $94.06 million, a price-to-earnings ratio of -4.58 and a beta of 2.31. Soleno Therapeutics has a 52 week low of $1.11 and a 52 week high of $5.07. The company has a 50-day moving average price of $2.68.

Soleno Therapeutics (NASDAQ:SLNO) last posted its quarterly earnings data on Monday, May 13th. The company reported ($0.22) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.29) by $0.07. Equities research analysts expect that Soleno Therapeutics will post -0.77 earnings per share for the current year.

In other news, major shareholder Bioasia Mangement Llc sold 90,724 shares of the firm’s stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $1.93, for a total transaction of $175,097.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 43.27% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the stock. Fosun International Ltd grew its stake in Soleno Therapeutics by 4.7% in the 1st quarter. Fosun International Ltd now owns 188,982 shares of the company’s stock valued at $397,000 after buying an additional 8,569 shares in the last quarter. Virtu Financial LLC bought a new position in Soleno Therapeutics in the 1st quarter valued at $72,000. Finally, Trellus Management Company LLC boosted its holdings in Soleno Therapeutics by 42.1% in the 1st quarter. Trellus Management Company LLC now owns 240,645 shares of the company’s stock valued at $496,000 after purchasing an additional 71,265 shares during the period. Institutional investors and hedge funds own 46.08% of the company’s stock.

Soleno Therapeutics Company Profile

Soleno Therapeutics, Inc focuses on the development and commercialization of novel therapeutics for the treatment of rare diseases. Its lead candidate is diazoxide choline controlled-release, a tablet that is in Phase III clinical trial for the treatment of Prader-Willi Syndrome. The company was formerly known as Capnia, Inc and changed its name to Soleno Therapeutics, Inc in May 2017.

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