Soleno Therapeutics (NASDAQ:SLNO) Downgraded by Zacks Investment Research
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 equities research analysts have also recently commented on the company. ValuEngine cut Soleno Therapeutics from a buy rating to a hold rating in a research note on Monday, June 24th. Laidlaw began coverage on Soleno Therapeutics in a research note on Monday, July 8th. They set a buy rating and a $10.00 price target for the company.
Soleno Therapeutics (NASDAQ:SLNO) last released its quarterly earnings results on Wednesday, August 7th. The company reported ($0.31) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.18) by ($0.13). On average, equities analysts anticipate that Soleno Therapeutics will post -0.85 earnings per share for the current fiscal year.
In other Soleno Therapeutics news, major shareholder Bioasia Mangement Llc sold 90,724 shares of the stock in a transaction on Monday, May 20th. The stock was sold at an average price of $1.93, for a total value of $175,097.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Larry N. Feinberg acquired 57,069 shares of the business’s stock in a transaction on Friday, July 26th. The stock was acquired at an average price of $2.14 per share, with a total value of $122,127.66. The disclosure for this purchase can be found here. 26.56% of the stock is owned by corporate insiders.
Large investors have recently added to or reduced their stakes in the business. Virtu Financial LLC purchased a new position in Soleno Therapeutics in the first quarter worth $72,000. Fosun International Ltd raised its position in Soleno Therapeutics by 4.7% in the first 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 raised its position in Soleno Therapeutics by 42.1% in the first quarter. Trellus Management Company LLC now owns 240,645 shares of the company’s stock worth $496,000 after acquiring an additional 71,265 shares in the last quarter. BlackRock Inc. raised its position in Soleno Therapeutics by 86.0% in the second 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. Finally, Bank of New York Mellon Corp purchased a new position in Soleno Therapeutics in the second quarter worth $49,000. Hedge funds and other institutional investors own 46.20% 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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