Soleno Therapeutics (NASDAQ:SLNO) Sets New 12-Month Low – Should You Sell?

Soleno Therapeutics, Inc. (NASDAQ:SLNO)’s stock price reached a new 52-week low on Friday . The company traded as low as $39.00 and last traded at $38.9950, with a volume of 357531 shares. The stock had previously closed at $40.55.

Analyst Ratings Changes

A number of research analysts have commented on the company. Zacks Research upgraded Soleno Therapeutics from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 5th. Wells Fargo & Company reissued an “overweight” rating and set a $114.00 target price (up previously from $106.00) on shares of Soleno Therapeutics in a research note on Tuesday, January 20th. Weiss Ratings restated a “sell (d-)” rating on shares of Soleno Therapeutics in a report on Thursday, January 22nd. Robert W. Baird set a $107.00 price target on shares of Soleno Therapeutics in a research note on Tuesday, January 13th. Finally, HC Wainwright reissued a “buy” rating and set a $120.00 price target (up previously from $110.00) on shares of Soleno Therapeutics in a research report on Tuesday, January 20th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Buy” and an average price target of $110.62.

Soleno Therapeutics Stock Down 3.8%

The firm’s fifty day simple moving average is $46.71 and its 200 day simple moving average is $60.11. The company has a current ratio of 16.08, a quick ratio of 15.88 and a debt-to-equity ratio of 0.10. The company has a market cap of $2.09 billion, a price-to-earnings ratio of -21.16 and a beta of -3.12.

Soleno Therapeutics (NASDAQ:SLNO) last released its quarterly earnings data on Tuesday, November 4th. The company reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.39. The firm had revenue of $66.02 million for the quarter, compared to analysts’ expectations of $47.46 million. Sell-side analysts predict that Soleno Therapeutics, Inc. will post -3.72 earnings per share for the current year.

Institutional Investors Weigh In On Soleno Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in SLNO. Pictet Asset Management Holding SA lifted its stake in Soleno Therapeutics by 13.3% during the fourth quarter. Pictet Asset Management Holding SA now owns 624,128 shares of the company’s stock worth $28,897,000 after purchasing an additional 73,504 shares during the last quarter. UBS Group AG raised its holdings in Soleno Therapeutics by 7.1% during the fourth quarter. UBS Group AG now owns 169,506 shares of the company’s stock worth $7,848,000 after purchasing an additional 11,198 shares in the last quarter. Teachers Retirement System of The State of Kentucky lifted its position in shares of Soleno Therapeutics by 50.6% during the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 20,941 shares of the company’s stock worth $970,000 after buying an additional 7,040 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Soleno Therapeutics by 9.0% in the 4th quarter. Vanguard Group Inc. now owns 3,060,361 shares of the company’s stock valued at $141,695,000 after buying an additional 253,212 shares in the last quarter. Finally, Arizona State Retirement System grew its position in shares of Soleno Therapeutics by 8.1% in the 4th quarter. Arizona State Retirement System now owns 12,629 shares of the company’s stock valued at $585,000 after buying an additional 948 shares during the last quarter. Institutional investors and hedge funds own 97.42% of the company’s stock.

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.