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

Soleno Therapeutics, Inc. (NASDAQ:SLNO) shares hit a new 52-week low during trading on Friday . The company traded as low as $39.00 and last traded at $38.9950, with a volume of 357531 shares trading hands. The stock had previously closed at $40.55.

Wall Street Analysts Forecast Growth

SLNO has been the topic of several analyst reports. Wall Street Zen upgraded Soleno Therapeutics from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Zacks Research upgraded shares of Soleno Therapeutics from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 5th. Weiss Ratings reissued a “sell (d-)” rating on shares of Soleno Therapeutics in a report on Thursday, January 22nd. Wells Fargo & Company restated an “overweight” rating and issued a $114.00 target price (up previously from $106.00) on shares of Soleno Therapeutics in a research note on Tuesday, January 20th. Finally, Robert W. Baird set a $107.00 price target on shares of Soleno Therapeutics in a research report on Tuesday, January 13th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $110.62.

Soleno Therapeutics Price Performance

The company has a debt-to-equity ratio of 0.10, a current ratio of 16.08 and a quick ratio of 15.88. The company has a fifty day moving average price of $46.58 and a 200 day moving average price of $59.63. The company has a market capitalization of $2.07 billion, a P/E ratio of -20.96 and a beta of -3.12.

Soleno Therapeutics (NASDAQ:SLNO) last released its quarterly earnings data on Tuesday, November 4th. The company reported $0.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.08 by $0.39. The company had revenue of $66.02 million for the quarter, compared to analyst estimates of $47.46 million. On average, sell-side analysts forecast that Soleno Therapeutics, Inc. will post -3.72 EPS for the current fiscal year.

Institutional Trading of Soleno Therapeutics

A number of large investors have recently modified their holdings of SLNO. Pictet Asset Management Holding SA lifted its position in Soleno Therapeutics by 13.3% in the 4th quarter. Pictet Asset Management Holding SA now owns 624,128 shares of the company’s stock valued at $28,897,000 after purchasing an additional 73,504 shares during the last quarter. UBS Group AG increased its stake in shares of Soleno Therapeutics by 7.1% in the fourth quarter. UBS Group AG now owns 169,506 shares of the company’s stock valued at $7,848,000 after purchasing an additional 11,198 shares during the period. Teachers Retirement System of The State of Kentucky increased its stake in shares of Soleno Therapeutics by 50.6% in the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 20,941 shares of the company’s stock valued at $970,000 after purchasing an additional 7,040 shares during the period. Vanguard Group Inc. raised its holdings in shares of Soleno Therapeutics by 9.0% during the fourth quarter. Vanguard Group Inc. now owns 3,060,361 shares of the company’s stock valued at $141,695,000 after buying an additional 253,212 shares during the last quarter. Finally, Arizona State Retirement System boosted its position in shares of Soleno Therapeutics by 8.1% during the fourth quarter. Arizona State Retirement System now owns 12,629 shares of the company’s stock worth $585,000 after buying an additional 948 shares during the period. Institutional investors and hedge funds 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.