Soleno Therapeutics (NASDAQ:SLNO) Hits New 12-Month Low – Time to Sell?

Soleno Therapeutics, Inc. (NASDAQ:SLNO) shares hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $32.15 and last traded at $33.1560, with a volume of 107899 shares changing hands. The stock had previously closed at $33.62.

Analyst Ratings Changes

A number of analysts recently weighed in on SLNO shares. Wall Street Zen upgraded shares of Soleno Therapeutics from a “hold” rating to a “buy” rating in a research note on Saturday. Wolfe Research set a $60.00 price target on shares of Soleno Therapeutics in a report on Monday, January 12th. TD Cowen dropped their price objective on shares of Soleno Therapeutics from $120.00 to $85.00 and set a “buy” rating on the stock in a research report on Thursday, February 26th. Wells Fargo & Company reduced their price objective on shares of Soleno Therapeutics from $114.00 to $110.00 and set an “overweight” rating on the stock in a report on Friday, February 27th. Finally, Robert W. Baird set a $107.00 price objective on shares of Soleno Therapeutics in a research report on Tuesday, January 13th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $106.85.

Soleno Therapeutics Stock Performance

The firm has a 50 day moving average of $40.25 and a two-hundred day moving average of $50.45. The company has a debt-to-equity ratio of 0.11, a current ratio of 5.80 and a quick ratio of 5.55. The stock has a market cap of $1.72 billion, a PE ratio of 144.72 and a beta of -3.16.

Soleno Therapeutics (NASDAQ:SLNO) last released its quarterly earnings data on Wednesday, February 25th. The company reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.16. The company had revenue of $91.73 million for the quarter, compared to analyst estimates of $88.55 million. Research analysts predict that Soleno Therapeutics, Inc. will post -3.72 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in SLNO. Avoro Capital Advisors LLC lifted its stake in Soleno Therapeutics by 12.5% in the fourth quarter. Avoro Capital Advisors LLC now owns 2,900,000 shares of the company’s stock valued at $134,270,000 after buying an additional 322,223 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in shares of Soleno Therapeutics during the fourth quarter worth approximately $38,000. Seven Fleet Capital Management LP purchased a new position in shares of Soleno Therapeutics during the fourth quarter worth approximately $6,023,000. Virtu Financial LLC acquired a new position in shares of Soleno Therapeutics in the 4th quarter valued at $1,059,000. Finally, Empowered Funds LLC acquired a new position in shares of Soleno Therapeutics in the 4th quarter valued at $69,000. Hedge funds and other institutional investors own 97.42% of the company’s stock.

Soleno Therapeutics Company Profile

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.