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

Harbor Capital Advisors Inc. grew its stake in Soleno Therapeutics, Inc. (NASDAQ:SLNO - Free Report) by 25.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 46,931 shares of the company's stock after purchasing an additional 9,635 shares during the quarter. Harbor Capital Advisors Inc. owned approximately 0.10% of Soleno Therapeutics worth $3,353,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. AlphaQuest LLC increased its stake in Soleno Therapeutics by 1,154.4% during the 4th quarter. AlphaQuest LLC now owns 715 shares of the company's stock worth $32,000 after buying an additional 658 shares in the last quarter. US Bancorp DE purchased a new stake in shares of Soleno Therapeutics during the fourth quarter worth approximately $34,000. Springhill Fund Asset Management HK Co Ltd purchased a new stake in shares of Soleno Therapeutics during the fourth quarter worth approximately $81,000. Summit Investment Advisors Inc. raised its stake in Soleno Therapeutics by 24.2% in the 4th quarter. Summit Investment Advisors Inc. now owns 2,677 shares of the company's stock valued at $120,000 after purchasing an additional 522 shares during the last quarter. Finally, GAMMA Investing LLC raised its stake in Soleno Therapeutics by 4,377.3% in the 1st quarter. GAMMA Investing LLC now owns 3,358 shares of the company's stock valued at $240,000 after purchasing an additional 3,283 shares during the last quarter. Hedge funds and other institutional investors own 97.42% of the company's stock.

Insider Buying and Selling at Soleno Therapeutics

In related news, CEO Bhatnagar Anish sold 699,095 shares of the stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $67.62, for a total transaction of $47,272,803.90. Following the transaction, the chief executive officer now owns 577,076 shares of the company's stock, valued at approximately $39,021,879.12. This represents a 54.78% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Patricia C. Hirano sold 128,653 shares of the company's stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $68.32, for a total value of $8,789,572.96. Following the sale, the insider now owns 55,789 shares in the company, valued at approximately $3,811,504.48. This trade represents a 69.75% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 942,672 shares of company stock worth $64,058,781 over the last three months. Insiders own 6.40% of the company's stock.

Soleno Therapeutics Price Performance

SLNO traded down $1.05 during trading hours on Friday, reaching $79.15. The company's stock had a trading volume of 621,294 shares, compared to its average volume of 770,288. The stock has a market cap of $3.99 billion, a PE ratio of -23.84 and a beta of -2.69. Soleno Therapeutics, Inc. has a fifty-two week low of $36.93 and a fifty-two week high of $81.54. The business's 50-day moving average is $73.64 and its 200-day moving average is $57.92.

Soleno Therapeutics (NASDAQ:SLNO - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The company reported ($0.95) EPS for the quarter, beating the consensus estimate of ($1.14) by $0.19. Analysts expect that Soleno Therapeutics, Inc. will post -3.72 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on SLNO. Robert W. Baird upped their target price on shares of Soleno Therapeutics from $102.00 to $105.00 and gave the stock an "outperform" rating in a report on Thursday, May 8th. Stifel Nicolaus upped their price objective on shares of Soleno Therapeutics from $74.00 to $108.00 and gave the company a "buy" rating in a research note on Friday, March 28th. Piper Sandler increased their price objective on shares of Soleno Therapeutics from $93.00 to $145.00 and gave the company an "overweight" rating in a report on Thursday, April 24th. UBS Group set a $105.00 target price on Soleno Therapeutics in a report on Thursday, March 27th. Finally, HC Wainwright restated a "buy" rating and issued a $100.00 price target on shares of Soleno Therapeutics in a research report on Tuesday, April 15th. Eight research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Buy" and an average price target of $106.78.

Soleno Therapeutics 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.