Soleno Therapeutics (NASDAQ:SLNO) Stock Price Passes Above 50 Day Moving Average of $1.97

Soleno Therapeutics Inc (NASDAQ:SLNO) shares crossed above its 50 day moving average during trading on Friday . The stock has a 50 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.

SLNO has been the subject of several recent analyst reports. Zacks Investment Research downgraded Soleno Therapeutics from a “buy” rating to a “hold” rating in a research note on Saturday, August 10th. ValuEngine downgraded Soleno Therapeutics from a “buy” rating to a “hold” rating in a research note on Wednesday, August 21st. Finally, Laidlaw initiated 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.

The firm has a 50 day moving average of $1.95 and a two-hundred day moving average of $2.20. The stock has a market cap of $56.64 million, a P/E ratio of -2.86 and a beta of 2.34.

Soleno Therapeutics (NASDAQ:SLNO) last announced its earnings results 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). As a group, equities analysts predict that Soleno Therapeutics Inc will post -0.85 EPS for the current fiscal year.

In other Soleno Therapeutics news, major shareholder Larry N. Feinberg bought 57,069 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The stock was purchased at an average price of $2.14 per share, for a total transaction of $122,127.66. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. 26.56% of the stock is owned by corporate insiders.

A number of large investors have recently made changes to their positions in SLNO. Lindbrook Capital LLC bought a new stake in Soleno Therapeutics during the 2nd quarter valued at approximately $30,000. Bank of New York Mellon Corp bought a new stake in Soleno Therapeutics during the 2nd quarter valued at approximately $49,000. BlackRock Inc. boosted its stake in Soleno Therapeutics by 86.0% during the 2nd quarter. BlackRock Inc. now owns 72,061 shares of the company’s stock valued at $202,000 after purchasing an additional 33,319 shares during the period. Fosun International Ltd boosted its stake in Soleno Therapeutics by 4.7% during the 1st quarter. Fosun International Ltd now owns 188,982 shares of the company’s stock valued at $397,000 after purchasing an additional 8,569 shares during the period. Finally, Vanguard Group Inc. boosted its stake in Soleno Therapeutics by 14.1% during the 2nd quarter. Vanguard Group Inc. now owns 243,879 shares of the company’s stock valued at $683,000 after purchasing an additional 30,092 shares during the period. Hedge funds and other institutional investors own 46.04% of the company’s stock.

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.

Featured Article: Dead Cat Bounce

Receive News & Ratings for Soleno Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Soleno Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.