Equities analysts expect that Soleno Therapeutics Inc (NASDAQ:SLNO) will post earnings of ($0.17) per share for the current quarter, Zacks Investment Research reports. Zero analysts have made estimates for Soleno Therapeutics’ earnings. Soleno Therapeutics reported earnings per share of ($0.11) in the same quarter last year, which would suggest a negative year over year growth rate of 54.5%. The firm is scheduled to issue its next earnings report on Thursday, November 21st.
According to Zacks, analysts expect that Soleno Therapeutics will report full-year earnings of ($0.85) per share for the current fiscal year. For the next year, analysts anticipate that the company will report earnings of ($0.84) per share. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side analysts that follow Soleno Therapeutics.
Soleno Therapeutics (NASDAQ:SLNO) last announced its quarterly earnings data on Wednesday, August 7th. The company reported ($0.31) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.18) by ($0.13).
Several equities research analysts recently issued reports on the company. Zacks Investment Research downgraded Soleno Therapeutics from a “buy” rating to a “hold” rating in a research note on Saturday. ValuEngine downgraded Soleno Therapeutics from a “buy” rating to a “hold” rating in a research note on Monday, June 24th. Finally, Laidlaw assumed coverage on Soleno Therapeutics in a research note on Monday, July 8th. They issued a “buy” rating and a $10.00 price objective for the company.
In other news, major shareholder Bioasia Mangement Llc sold 90,724 shares of the firm’s stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $1.93, for a total transaction of $175,097.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Larry N. Feinberg purchased 57,069 shares of the business’s stock in a transaction dated Friday, July 26th. The shares were purchased at an average cost of $2.14 per share, with a total value of $122,127.66. The disclosure for this purchase can be found here. 26.56% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Trellus Management Company LLC raised its stake in shares of Soleno Therapeutics by 11.4% during the 2nd quarter. Trellus Management Company LLC now owns 268,000 shares of the company’s stock worth $750,000 after purchasing an additional 27,355 shares in the last quarter. Fosun International Ltd raised its stake in shares of Soleno Therapeutics by 4.7% during the 1st quarter. Fosun International Ltd now owns 188,982 shares of the company’s stock worth $397,000 after purchasing an additional 8,569 shares in the last quarter. Virtu Financial LLC purchased a new stake in shares of Soleno Therapeutics during the 1st quarter worth about $72,000. Bank of New York Mellon Corp purchased a new stake in shares of Soleno Therapeutics during the 2nd quarter worth about $49,000. Finally, Lindbrook Capital LLC purchased a new stake in shares of Soleno Therapeutics during the 2nd quarter worth about $30,000. 46.20% of the stock is owned by institutional investors.
Soleno Therapeutics stock traded down $0.05 during mid-day trading on Tuesday, hitting $1.95. The company’s stock had a trading volume of 40,700 shares, compared to its average volume of 678,757. The stock’s 50 day moving average is $2.50. The firm has a market cap of $63.59 million, a P/E ratio of -3.00 and a beta of 2.29. Soleno Therapeutics has a 52-week low of $1.11 and a 52-week high of $5.07.
About Soleno Therapeutics
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.
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