Harbor Capital Advisors Inc. Raises Stake in Soleno Therapeutics, Inc. (NASDAQ:SLNO)

Harbor Capital Advisors Inc. grew its holdings in Soleno Therapeutics, Inc. (NASDAQ:SLNO) by 3.5% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 37,296 shares of the company’s stock after buying an additional 1,248 shares during the period. Harbor Capital Advisors Inc. owned 0.09% of Soleno Therapeutics worth $1,676,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in SLNO. JPMorgan Chase & Co. raised its stake in Soleno Therapeutics by 35.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 13,915 shares of the company’s stock valued at $703,000 after acquiring an additional 3,666 shares during the last quarter. Virtu Financial LLC purchased a new stake in shares of Soleno Therapeutics during the third quarter worth approximately $490,000. Teachers Retirement System of The State of Kentucky acquired a new stake in shares of Soleno Therapeutics during the third quarter worth $656,000. Geode Capital Management LLC grew its position in Soleno Therapeutics by 10.5% in the 3rd quarter. Geode Capital Management LLC now owns 540,296 shares of the company’s stock valued at $27,286,000 after buying an additional 51,189 shares during the last quarter. Finally, Barclays PLC increased its stake in Soleno Therapeutics by 149.3% in the 3rd quarter. Barclays PLC now owns 52,545 shares of the company’s stock valued at $2,652,000 after buying an additional 31,467 shares during the period. Institutional investors and hedge funds own 97.42% of the company’s stock.

Soleno Therapeutics Price Performance

NASDAQ SLNO opened at $43.11 on Monday. The business has a 50 day moving average price of $50.16 and a 200 day moving average price of $49.41. The company has a market capitalization of $1.86 billion, a P/E ratio of -12.98 and a beta of -1.47. Soleno Therapeutics, Inc. has a 1-year low of $36.61 and a 1-year high of $60.92.

Soleno Therapeutics (NASDAQ:SLNO) last announced its quarterly earnings results on Wednesday, November 6th. The company reported ($1.83) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.61) by ($1.22). On average, research analysts expect that Soleno Therapeutics, Inc. will post -3.7 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently commented on SLNO. HC Wainwright restated a “buy” rating and issued a $70.00 target price on shares of Soleno Therapeutics in a research note on Monday, December 2nd. Cantor Fitzgerald restated an “overweight” rating and issued a $67.00 price objective on shares of Soleno Therapeutics in a research report on Friday, September 20th. Robert W. Baird reiterated an “outperform” rating and set a $72.00 target price on shares of Soleno Therapeutics in a research report on Monday, December 2nd. Stifel Nicolaus reissued a “buy” rating and issued a $74.00 price target on shares of Soleno Therapeutics in a report on Monday, December 2nd. Finally, Oppenheimer increased their price objective on Soleno Therapeutics from $65.00 to $73.00 and gave the stock an “outperform” rating in a research report on Monday, October 28th. Six research 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, the company presently has an average rating of “Buy” and an average target price of $74.83.

Insider Buying and Selling at Soleno Therapeutics

In other Soleno Therapeutics news, insider Kristen Yen sold 2,340 shares of the firm’s stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $46.18, for a total transaction of $108,061.20. Following the completion of the transaction, the insider now owns 76,605 shares of the company’s stock, valued at approximately $3,537,618.90. This trade represents a 2.96 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Bhatnagar Anish sold 10,937 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $45.41, for a total value of $496,649.17. Following the sale, the chief executive officer now directly owns 708,616 shares in the company, valued at approximately $32,178,252.56. The trade was a 1.52 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 17,360 shares of company stock worth $790,119. 12.30% of the stock is owned by corporate insiders.

Soleno Therapeutics Company Profile

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.