Soleno Therapeutics (NASDAQ:SLNO) Stock Price Crosses Above Fifty Day Moving Average of $1.97

Soleno Therapeutics Inc (NASDAQ:SLNO) passed above its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $1.97 and traded as high as $1.85. Soleno Therapeutics shares last traded at $1.85, with a volume of 339 shares trading hands.

Several equities analysts have recently weighed in on SLNO shares. Laidlaw started coverage on Soleno Therapeutics in a research note on Monday, July 8th. They issued a “buy” rating and a $10.00 price objective on the stock. ValuEngine lowered Soleno Therapeutics from a “buy” rating to a “hold” rating in a research note on Wednesday, August 21st. Finally, Zacks Investment Research lowered Soleno Therapeutics from a “buy” rating to a “hold” rating in a research note on Saturday, August 10th.

The firm has a market capitalization of $56.64 million, a price-to-earnings ratio of -2.86 and a beta of 2.34. The firm has a 50 day moving average price of $1.95 and a two-hundred day moving average price of $2.20.

Soleno Therapeutics (NASDAQ:SLNO) last released its quarterly earnings data on Wednesday, August 7th. The company reported ($0.31) earnings per share for the quarter, missing the consensus estimate of ($0.18) by ($0.13). On average, research analysts anticipate that Soleno Therapeutics Inc will post -0.85 earnings per share for the current year.

In other news, major shareholder Larry N. Feinberg acquired 57,069 shares of Soleno Therapeutics stock in a transaction dated Friday, July 26th. The shares were acquired at an average cost of $2.14 per share, with a total value of $122,127.66. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 26.56% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SLNO. Fosun International Ltd lifted its position in Soleno Therapeutics by 4.7% during the 1st quarter. Fosun International Ltd now owns 188,982 shares of the company’s stock worth $397,000 after acquiring an additional 8,569 shares in the last quarter. Trellus Management Company LLC lifted its position in Soleno Therapeutics by 11.4% during the 2nd quarter. Trellus Management Company LLC now owns 268,000 shares of the company’s stock worth $750,000 after acquiring an additional 27,355 shares in the last quarter. Lindbrook Capital LLC acquired a new position in Soleno Therapeutics during the 2nd quarter worth approximately $30,000. Vanguard Group Inc. lifted its position in Soleno Therapeutics by 14.1% during the 2nd quarter. Vanguard Group Inc. now owns 243,879 shares of the company’s stock worth $683,000 after acquiring an additional 30,092 shares in the last quarter. Finally, BlackRock Inc. lifted its position in Soleno Therapeutics by 86.0% during the 2nd quarter. BlackRock Inc. now owns 72,061 shares of the company’s stock worth $202,000 after acquiring an additional 33,319 shares in the last quarter. 46.04% of the stock is currently owned by institutional investors and hedge funds.

Soleno Therapeutics Company Profile (NASDAQ:SLNO)

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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