Soleno Therapeutics (NASDAQ:SLNO) Hits New 52-Week Low – Should You Sell?
by Kim Johansen · The Markets DailySoleno Therapeutics, Inc. (NASDAQ:SLNO – Get Free Report)’s stock price reached a new 52-week low during trading on Friday . The company traded as low as $39.00 and last traded at $38.9950, with a volume of 357531 shares trading hands. The stock had previously closed at $40.55.
Wall Street Analysts Forecast Growth
A number of equities analysts have issued reports on SLNO shares. Wells Fargo & Company reiterated an “overweight” rating and set a $114.00 price target (up previously from $106.00) on shares of Soleno Therapeutics in a research report on Tuesday, January 20th. The Goldman Sachs Group set a $125.00 target price on Soleno Therapeutics and gave the company a “buy” rating in a research report on Tuesday, October 7th. Zacks Research raised shares of Soleno Therapeutics from a “hold” rating to a “strong-buy” rating in a report on Monday, January 5th. Wolfe Research set a $60.00 price objective on shares of Soleno Therapeutics in a report on Monday, January 12th. Finally, HC Wainwright reiterated a “buy” rating and issued a $120.00 price objective (up from $110.00) on shares of Soleno Therapeutics in a report on Tuesday, January 20th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Buy” and a consensus price target of $110.62.
Soleno Therapeutics Trading Down 3.8%
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 fifty day moving average price of $46.71 and a two-hundred day moving average price of $60.11. The firm has a market capitalization of $2.09 billion, a price-to-earnings ratio of -21.16 and a beta of -3.12.
Soleno Therapeutics (NASDAQ:SLNO – Get Free Report) last announced its quarterly earnings data on Tuesday, November 4th. The company reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.39. The company had revenue of $66.02 million for the quarter, compared to analysts’ expectations of $47.46 million. As a group, research analysts forecast that Soleno Therapeutics, Inc. will post -3.72 earnings per share for the current fiscal year.
Institutional Trading of Soleno Therapeutics
Several hedge funds have recently made changes to their positions in the company. Emerald Mutual Fund Advisers Trust lifted its stake in shares of Soleno Therapeutics by 9.1% in the 2nd quarter. Emerald Mutual Fund Advisers Trust now owns 405,651 shares of the company’s stock valued at $33,985,000 after purchasing an additional 33,954 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in Soleno Therapeutics by 255.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 280,984 shares of the company’s stock valued at $18,995,000 after buying an additional 201,983 shares during the last quarter. Castleark Management LLC purchased a new position in Soleno Therapeutics during the second quarter worth about $2,919,000. TD Asset Management Inc increased its position in shares of Soleno Therapeutics by 34.9% during the second quarter. TD Asset Management Inc now owns 99,810 shares of the company’s stock valued at $8,362,000 after acquiring an additional 25,800 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new stake in shares of Soleno Therapeutics during the third quarter valued at about $1,000,000. Hedge funds and other institutional investors 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.