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Soleno Therapeutics Inc. (SLNO) – The 82.14% Upside Potential Remains

Soleno Therapeutics Inc. (NASDAQ: SLNO) is -35.23% lower on its value in year-to-date trading and has touched a low of $1.15 and a high of $4.39 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The SLNO stock was last observed hovering at around $1.31 in the last trading session, with the day’s loss setting it -0.06% off its average median price target of $7.00 for the next 12 months. It is also 84.38% off the consensus price target high of $8.00 offered by 3 analysts, but current levels are 79.17% higher than the price target low of $6.00 for the same period.

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Currently trading at $1.25, the stock is -16.39% and -41.39% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 1.43 million and changing -4.58% at the moment leaves the stock -37.44% off its SMA200. SLNO registered -47.70% loss for a year compared to 6-month gain of -43.82%. The firm has a 50-day simple moving average (SMA 50) of $1.9876 and a 200-day simple moving average (SMA200) of $2.0239.

The stock witnessed a -52.47% loss in the last 1 month and extending the period to 3 months gives it a -35.23%, and is -1.57% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 6.34% over the week and 8.97% over the month.

Distance from 52-week low is 8.70% and -71.53% from its 52-week high.

Soleno Therapeutics Inc. (SLNO) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for Soleno Therapeutics Inc. (SLNO) is a “Buy”. 3 analysts offering their recommendations for the stock have an average rating of 1.30, where 0 rate it as a Hold and 0 think it is a “Overweight”. 3 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.

Soleno Therapeutics Inc. is expected to release its quarterly report on 08/12/2021 and quarterly earnings per share for the current quarter are estimated at -$0.08.The EPS is expected to grow by 56.30% this year.

Soleno Therapeutics Inc. (SLNO) Top Institutional Holders

90 institutions hold shares in Soleno Therapeutics Inc. (SLNO), with 13.01M shares held by insiders accounting for 16.32% while institutional investors hold 70.54% of the company’s shares. The shares outstanding are 79.73M, and float is at 66.60M with Short Float at 2.60%. Institutions hold 59.03% of the Float.

The top institutional shareholder in the company is Abingworth, LLP with over 10.3 million shares valued at $19.88 million. The investor’s holdings represent 12.92% of the SLNO Shares outstanding. As of Dec 30, 2020, the second largest holder is Nantahala Capital Management, LLC with 7.87 million shares valued at $15.19 million to account for 9.87% of the shares outstanding. The other top investors are Suvretta Capital Management, LLC which holds 5.76 million shares representing 7.22% and valued at over $11.11 million, while Oracle Investment Management Inc holds 4.60% of the shares totaling 3.67 million with a market value of $7.08 million.

Soleno Therapeutics Inc. (SLNO) Insider Activity

A total of 11 insider transactions have happened at Soleno Therapeutics Inc. (SLNO) in the last six months, with sales accounting for 5 and purchases happening 6 times. The most recent transaction is an insider sale by Harris William G ,the company’sDirector. SEC filings show that Harris William G sold 2,497 shares of the company’s common stock on Oct 30 at a price of $1.74 per share for a total of $4345.0. Following the sale, the insider now owns 66271.0 shares.

Soleno Therapeutics Inc. disclosed in a document filed with the SEC on Jun 26 that Sinclair Andrew (Director) bought a total of 3,333,330 shares of the company’s common stock. The trade occurred on Jun 26 and was made at $1.65 per share for $5.5 million. Following the transaction, the insider now directly holds 10.3 million shares of the SLNO stock.

Still, SEC filings show that on Jun 26, Abingworth LLP (10% Owner) acquired 3,333,330 shares at an average price of $1.65 for $5.5 million. The insider now directly holds 10,302,602 shares of Soleno Therapeutics Inc. (SLNO).

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Soleno Therapeutics Inc. (SLNO): Who are the competitors?

The company’s main competitors (and peers) include Chembio Diagnostics Inc. (CEMI) that is trading -17.18% down over the past 12 months and Neogen Corporation (NEOG) that is 35.65% higher over the same period. Nymox Pharmaceutical Corporation (NYMX) is 8.41% up on the 1-year trading charts. Short interest in the company’s stock has risen 55.24% from the last report on Feb 11, 2021 to stand at a total of 0.77 million short shares sold with a short interest ratio of 0.65.

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