Harbor Capital Advisors Inc. Invests $1.82 Million in Soleno Therapeutics, Inc. (NASDAQ:SLNO)

Harbor Capital Advisors Inc. bought a new stake in shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 36,048 shares of the company’s stock, valued at approximately $1,820,000.

Several other large investors have also added to or reduced their stakes in the business. Amalgamated Bank bought a new stake in Soleno Therapeutics in the second quarter worth approximately $31,000. Victory Capital Management Inc. grew its position in shares of Soleno Therapeutics by 26.3% during the 2nd quarter. Victory Capital Management Inc. now owns 10,727 shares of the company’s stock worth $438,000 after buying an additional 2,236 shares during the period. Sei Investments Co. increased its stake in shares of Soleno Therapeutics by 22.0% in the 1st quarter. Sei Investments Co. now owns 12,577 shares of the company’s stock valued at $538,000 after acquiring an additional 2,264 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of Soleno Therapeutics in the 2nd quarter valued at $569,000. Finally, California State Teachers Retirement System lifted its position in shares of Soleno Therapeutics by 33.8% during the 1st quarter. California State Teachers Retirement System now owns 13,780 shares of the company’s stock valued at $590,000 after acquiring an additional 3,481 shares during the period. Institutional investors and hedge funds own 97.42% of the company’s stock.

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In other Soleno Therapeutics news, CEO Bhatnagar Anish sold 56,613 shares of the firm’s stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $47.58, for a total transaction of $2,693,646.54. Following the transaction, the chief executive officer now directly owns 799,577 shares in the company, valued at approximately $38,043,873.66. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Soleno Therapeutics news, CEO Bhatnagar Anish sold 56,613 shares of the company’s stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $47.58, for a total value of $2,693,646.54. Following the completion of the transaction, the chief executive officer now owns 799,577 shares in the company, valued at $38,043,873.66. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Vivo Opportunity, Llc sold 500,000 shares of the stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $48.73, for a total transaction of $24,365,000.00. Following the transaction, the insider now directly owns 6,816,851 shares of the company’s stock, valued at $332,185,149.23. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 701,362 shares of company stock worth $33,970,517. 12.30% of the stock is owned by corporate insiders.

Soleno Therapeutics Price Performance

NASDAQ:SLNO opened at $56.39 on Wednesday. Soleno Therapeutics, Inc. has a one year low of $21.30 and a one year high of $57.28. The company has a market cap of $2.19 billion, a PE ratio of -23.11 and a beta of -1.44. The firm has a 50-day moving average of $51.50 and a 200-day moving average of $47.17.

Soleno Therapeutics (NASDAQ:SLNO) last issued its quarterly earnings data on Wednesday, August 7th. The company reported ($0.57) EPS for the quarter, topping analysts’ consensus estimates of ($0.63) by $0.06. On average, equities research analysts expect that Soleno Therapeutics, Inc. will post -2.29 earnings per share for the current fiscal year.

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.