Soleno Therapeutics, Inc. (NASDAQ:SLNO) Holdings Raised by Harbor Capital Advisors Inc.

Harbor Capital Advisors Inc. grew its stake in shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO) by 25.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 46,931 shares of the company’s stock after purchasing an additional 9,635 shares during the period. Harbor Capital Advisors Inc.’s holdings in Soleno Therapeutics were worth $3,353,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of SLNO. AlphaQuest LLC lifted its holdings in shares of Soleno Therapeutics by 1,154.4% during the fourth quarter. AlphaQuest LLC now owns 715 shares of the company’s stock valued at $32,000 after purchasing an additional 658 shares during the last quarter. US Bancorp DE purchased a new stake in shares of Soleno Therapeutics during the fourth quarter valued at $34,000. Springhill Fund Asset Management HK Co Ltd purchased a new stake in shares of Soleno Therapeutics during the fourth quarter valued at $81,000. Summit Investment Advisors Inc. lifted its holdings in shares of Soleno Therapeutics by 24.2% during the fourth 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, KLP Kapitalforvaltning AS purchased a new stake in shares of Soleno Therapeutics during the fourth quarter valued at $193,000. 97.42% of the stock is owned by hedge funds and other institutional investors.

Soleno Therapeutics Trading Up 2.7%

Shares of Soleno Therapeutics stock opened at $79.80 on Wednesday. The stock has a 50-day moving average price of $72.80 and a 200 day moving average price of $57.46. The company has a market cap of $4.02 billion, a P/E ratio of -24.04 and a beta of -2.69. Soleno Therapeutics, Inc. has a 1 year low of $36.93 and a 1 year high of $80.99.

Soleno Therapeutics (NASDAQ:SLNO) last announced its quarterly earnings data on Wednesday, May 7th. The company reported ($0.95) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.14) by $0.19. On average, equities analysts forecast that Soleno Therapeutics, Inc. will post -3.72 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

SLNO has been the subject of several analyst reports. Robert W. Baird upped their target price on Soleno Therapeutics from $102.00 to $105.00 and gave the company an “outperform” rating in a report on Thursday, May 8th. Guggenheim upped their target price on Soleno Therapeutics from $81.00 to $97.00 and gave the company a “buy” rating in a report on Thursday, May 8th. UBS Group set a $105.00 target price on Soleno Therapeutics in a report on Thursday, March 27th. Cantor Fitzgerald increased their price objective on Soleno Therapeutics from $67.00 to $123.00 and gave the stock an “overweight” rating in a research note on Thursday, March 27th. Finally, Stifel Nicolaus increased their price objective on Soleno Therapeutics from $74.00 to $108.00 and gave the stock a “buy” rating in a research note on Friday, March 28th. Eight analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $106.78.

Insiders Place Their Bets

In other news, CFO James H. Mackaness sold 90,622 shares of the stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $69.44, for a total transaction of $6,292,791.68. Following the transaction, the chief financial officer now owns 105,176 shares of the company’s stock, valued at approximately $7,303,421.44. This represents a 46.28% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Bhatnagar Anish sold 699,095 shares of the stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $67.62, for a total value of $47,272,803.90. Following the transaction, the chief executive officer now directly owns 577,076 shares in the company, valued at approximately $39,021,879.12. This represents a 54.78% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 942,672 shares of company stock valued at $64,058,781 in the last three months. Insiders own 12.30% of the company’s stock.

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.