Harbor Capital Advisors Inc. Takes Position in Soleno Therapeutics, Inc. (NASDAQ:SLNO)

Harbor Capital Advisors Inc. acquired a new stake in Soleno Therapeutics, Inc. (NASDAQ:SLNO - Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 36,048 shares of the company's stock, valued at approximately $1,820,000. Harbor Capital Advisors Inc. owned 0.11% of Soleno Therapeutics at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Amalgamated Bank bought a new position in Soleno Therapeutics during the second quarter worth about $31,000. Victory Capital Management Inc. increased its position in Soleno Therapeutics by 26.3% during the second quarter. Victory Capital Management Inc. now owns 10,727 shares of the company's stock worth $438,000 after acquiring an additional 2,236 shares during the period. Sei Investments Co. increased its position in Soleno Therapeutics by 22.0% during the first quarter. Sei Investments Co. now owns 12,577 shares of the company's stock worth $538,000 after acquiring an additional 2,264 shares during the period. California State Teachers Retirement System increased its position in Soleno Therapeutics by 33.8% during the first quarter. California State Teachers Retirement System now owns 13,780 shares of the company's stock worth $590,000 after acquiring an additional 3,481 shares during the period. Finally, SG Americas Securities LLC bought a new position in Soleno Therapeutics in the 2nd quarter valued at about $569,000. 97.42% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have commented on SLNO shares. HC Wainwright started coverage on shares of Soleno Therapeutics in a report on Tuesday, September 3rd. They issued a "buy" rating and a $70.00 target price on the stock. Oppenheimer raised their target price on shares of Soleno Therapeutics from $65.00 to $73.00 and gave the company an "outperform" rating in a report on Monday, October 28th. Stifel Nicolaus raised their target price on shares of Soleno Therapeutics from $59.00 to $74.00 and gave the company a "buy" rating in a report on Tuesday, October 1st. Finally, Cantor Fitzgerald restated an "overweight" rating and issued a $67.00 price target on shares of Soleno Therapeutics in a research note on Friday, September 20th. Seven investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $69.86.

Soleno Therapeutics Stock Performance

Shares of SLNO traded up $0.47 during mid-day trading on Wednesday, reaching $56.86. The company had a trading volume of 751,291 shares, compared to its average volume of 465,788. The company's 50 day simple moving average is $51.70 and its 200 day simple moving average is $47.24. Soleno Therapeutics, Inc. has a 1-year low of $21.38 and a 1-year high of $58.68. The company has a market capitalization of $2.21 billion, a price-to-earnings ratio of -23.30 and a beta of -1.44.

Soleno Therapeutics (NASDAQ:SLNO - Get Free Report) last posted its earnings results on Wednesday, August 7th. The company reported ($0.57) EPS for the quarter, topping the consensus estimate of ($0.63) by $0.06. As a group, equities analysts forecast that Soleno Therapeutics, Inc. will post -2.29 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Soleno Therapeutics news, CEO Bhatnagar Anish sold 21,633 shares of the firm's stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $49.43, for a total transaction of $1,069,319.19. Following the completion of the transaction, the chief executive officer now owns 719,553 shares in the company, valued at approximately $35,567,504.79. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, major shareholder Vivo Opportunity, Llc sold 100,000 shares of Soleno Therapeutics stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $47.22, for a total value of $4,722,000.00. Following the completion of the sale, the insider now owns 6,291,851 shares in the company, valued at $297,101,204.22. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Bhatnagar Anish sold 21,633 shares of Soleno Therapeutics stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $49.43, for a total transaction of $1,069,319.19. Following the completion of the sale, the chief executive officer now owns 719,553 shares of the company's stock, valued at $35,567,504.79. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 701,362 shares of company stock worth $33,970,517 in the last ninety days. Company insiders own 12.30% of the company's stock.

About Soleno Therapeutics

Soleno Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on the development and commercialization of novel therapeutics for the treatment of rare diseases. Its lead candidate is Diazoxide Choline Extended-Release tablets, a once-daily oral tablet, which is in Phase III clinical trials for the treatment of Prader-Willi Syndrome.