Oracle Investment Management, Inc. recently announced the acquisition of new stake in Soleno Therapeutics Inc. (NASDAQ:SLNO). The institutional investor has increased its shareholding in the Healthcare company by 15.65% to 4.48 million shares with purchase of 0.61 million shares. This fresh investment now brings its stake to 5.63% valued currently at $9.94 million. In addition, The Vanguard Group, Inc. raised its holdings by 0.41 million to 0.99 million shares.
With over 0.55 million Soleno Therapeutics Inc. (SLNO) shares trading Tuesday and a closing price of $1.91 on the day, the dollar volume was approximately $1.05 million. The shares have shown a positive weekly performance of 4.95% and its price on 07/21/20 lost nearly -0.52%. Currently, there are 44.68M common shares owned by the public and among those 28.22M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 2 analysts who have offered their price forecasts for SLNO have a consensus price objective of $8.50. The analysts have set the share’s price value over the next 12 months at a high of $9.00 and a low of $8.00 should the stock experience a downside. Incidentally, analysts’ outlook for the Soleno Therapeutics Inc. stock is 1.50 for the next 12 months. But an upside of 78.78% will see the stock hit the forecast high price target while mean target price for the stock is $8.50.
Insiders at the company have transacted a total of 38 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 20 of these insider trades were purchases, accounting for 8,177,120 shares. Insider sales of the common stock occurred on 18 occasions, with total insider shares sold totaling 577,682 shares.
The top 3 mutual fund holders in Soleno Therapeutics Inc. are Vanguard Total Stock Market Index, iShares Russell 2000 ETF, and iShares Russell 2000 Growth ETF. Vanguard Total Stock Market Index owns 0.97 million shares of the company’s stock, all valued at over $2.16 million. The company bought an additional 0.23 million shares recently to bring their total holdings to about 1.23% of the shares outstanding. iShares Russell 2000 ETF sold 15996.0 shares to see its total holdings shrink to 0.63 million shares valued at over $1.4 million and representing 0.79% of the shares outstanding. iShares Russell 2000 Growth ETF now owns shares totaling to 0.34% of the shares outstanding.
Shares of Soleno Therapeutics Inc. (NASDAQ: SLNO) opened at $1.95, up $0.03 from a prior closing price of $1.92. However, the script later closed the day at $1.91, down -0.52%. The company’s stock has a 5-day price change of 4.95% and -30.04% over the past three months. SLNO shares are trading -35.03% year to date (YTD), with the 12-month market performance down to -27.38% lower. It has a 12-month low price of $1.18 and touched a high of $4.39 over the same period. Currently, 0.55 million shares have been traded, compared to an average intraday trading volume of 981.13K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -3.41%, -27.67%, and -22.00% respectively.
Institutional ownership of Soleno Therapeutics Inc. (NASDAQ: SLNO) shares accounts for 30.50% of the company’s 44.68M shares outstanding. Mutual fund holders own 3.86%, while other institutional holders and individual stakeholders account for 45.10% and 12.11% respectively.
It has a market capitalization of $156.73M and a beta (3y monthly) value of 0.43. The earnings-per-share (ttm) stands at -$0.77. Price movements for the stock have been influenced by the stock’s volatility, which stands at 7.13% over the week and 9.07% over the month.
Analysts forecast that Soleno Therapeutics Inc. (SLNO) will achieve an EPS of -$0.2 for the current quarter, -$0.15 for the next quarter and -$0.6 for 2021. The lowest estimate earnings-per-share for the quarter is -$0.21 while analysts give the company a high EPS estimate of -$0.2. Comparatively, EPS for the current quarter was -$0.31 a year ago. Earnings per share for the fiscal year are expected to decrease by -59.70%, and 9.10% over the next financial year. EPS should shrink at an annualized rate of 15.00% over the next five years, compared to 38.50% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 2 brokerage firm advisors rate Soleno Therapeutics Inc. (SLNO) as a “Strong Buy” at a consensus score of 1.50. Specifically, 2 Wall Street analysts polled rate the stock as a buy, while 0 of the 2 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the SLNO, a number of firms have released research notes about the stock. Craig Hallum stated their Buy rating for the stock in a research note on January 10, 2020, with the firm’s price target at $8. Oppenheimer coverage for the Soleno Therapeutics Inc. (SLNO) stock in a research note released on December 23, 2019 offered a Outperform rating with a price target of $10.