Soleno Therapeutics (NASDAQ:SLNO) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Friday.
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. “
Separately, Maxim Group set a $4.00 target price on Soleno Therapeutics and gave the stock a “buy” rating in a research note on Friday, November 16th. Five analysts have rated the stock with a buy rating, The company presently has a consensus rating of “Buy” and a consensus target price of $6.13.
Shares of SLNO opened at $2.68 on Friday. Soleno Therapeutics has a 52 week low of $1.11 and a 52 week high of $5.07. The stock has a market capitalization of $57.45 million, a PE ratio of -1.99 and a beta of 3.29.
In related news, major shareholder Jack W. Schuler bought 3,031,002 shares of the stock in a transaction dated Friday, December 21st. The shares were purchased at an average price of $1.61 per share, for a total transaction of $4,879,913.22. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 43.27% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently modified their holdings of the company. Fosun International Ltd purchased a new stake in shares of Soleno Therapeutics in the fourth quarter worth about $294,000. Trellus Management Company LLC boosted its stake in shares of Soleno Therapeutics by 10.8% in the fourth quarter. Trellus Management Company LLC now owns 169,380 shares of the company’s stock worth $290,000 after buying an additional 16,551 shares during the last quarter. Finally, Vanguard Group Inc boosted its stake in shares of Soleno Therapeutics by 30.1% in the third quarter. Vanguard Group Inc now owns 66,075 shares of the company’s stock worth $143,000 after buying an additional 15,281 shares during the last quarter. Hedge funds and other institutional investors own 72.32% 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, diazoxide choline controlled-release (DCCR), a tablet for the treatment of Prader-Willi Syndrome (PWS), is entering into late-stage clinical development.
Recommended Story: How Buying a Call Option Works
For more information about research offerings from Zacks Investment Research, visit Zacks.com
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.