Hussman Strategic Advisors Inc. Reduces Stock Position in Harmony Biosciences Holdings, Inc. $HRMY

Hussman Strategic Advisors Inc. trimmed its stake in shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) by 60.0% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 42,000 shares of the company’s stock after selling 63,000 shares during the period. Hussman Strategic Advisors Inc. owned approximately 0.07% of Harmony Biosciences worth $1,158,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. American Century Companies Inc. grew its position in Harmony Biosciences by 16.5% in the 2nd quarter. American Century Companies Inc. now owns 1,501,420 shares of the company’s stock worth $47,445,000 after purchasing an additional 212,633 shares during the period. LSV Asset Management grew its holdings in shares of Harmony Biosciences by 24.6% in the second quarter. LSV Asset Management now owns 1,488,502 shares of the company’s stock worth $47,037,000 after acquiring an additional 293,541 shares during the period. Marshall Wace LLP increased its position in Harmony Biosciences by 36.3% during the second quarter. Marshall Wace LLP now owns 1,209,484 shares of the company’s stock valued at $38,220,000 after acquiring an additional 321,947 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Harmony Biosciences by 9.2% in the second quarter. Geode Capital Management LLC now owns 1,054,348 shares of the company’s stock valued at $33,321,000 after acquiring an additional 88,598 shares during the period. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in Harmony Biosciences by 127.6% in the second quarter. Arrowstreet Capital Limited Partnership now owns 906,909 shares of the company’s stock valued at $28,658,000 after acquiring an additional 508,498 shares during the period. Hedge funds and other institutional investors own 86.23% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on HRMY shares. Zacks Research raised shares of Harmony Biosciences from a “hold” rating to a “strong-buy” rating in a research report on Thursday, January 22nd. Needham & Company LLC reaffirmed a “buy” rating and set a $42.00 target price on shares of Harmony Biosciences in a report on Monday, November 24th. Truist Financial dropped their price target on shares of Harmony Biosciences from $48.00 to $45.00 and set a “buy” rating on the stock in a research note on Thursday, January 8th. UBS Group reduced their price objective on Harmony Biosciences from $50.00 to $43.00 and set a “buy” rating for the company in a research note on Wednesday, October 15th. Finally, Wall Street Zen upgraded Harmony Biosciences from a “hold” rating to a “buy” rating in a research report on Saturday, December 13th. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $45.25.

Harmony Biosciences Trading Down 2.2%

Shares of HRMY stock opened at $36.84 on Thursday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 3.72 and a current ratio of 3.75. The stock has a fifty day simple moving average of $37.30 and a two-hundred day simple moving average of $34.23. The firm has a market capitalization of $2.12 billion, a PE ratio of 11.58, a PEG ratio of 0.35 and a beta of 0.84. Harmony Biosciences Holdings, Inc. has a 52-week low of $25.52 and a 52-week high of $40.87.

Harmony Biosciences (NASDAQ:HRMY) last announced its quarterly earnings data on Tuesday, November 4th. The company reported $0.87 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.05). Harmony Biosciences had a net margin of 22.50% and a return on equity of 24.88%. The business had revenue of $239.46 million during the quarter, compared to analysts’ expectations of $222.68 million. On average, analysts predict that Harmony Biosciences Holdings, Inc. will post 2.43 EPS for the current fiscal year.

Insider Activity at Harmony Biosciences

In other Harmony Biosciences news, CEO Jeffrey M. Dayno sold 25,933 shares of the stock in a transaction that occurred on Friday, December 12th. The shares were sold at an average price of $40.11, for a total transaction of $1,040,172.63. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Sandip Kapadia sold 20,961 shares of Harmony Biosciences stock in a transaction that occurred on Thursday, January 15th. The shares were sold at an average price of $35.92, for a total transaction of $752,919.12. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 50,640 shares of company stock valued at $1,932,256 over the last 90 days. 23.60% of the stock is currently owned by corporate insiders.

Harmony Biosciences Company Profile

Harmony Biosciences Holdings, Inc is a commercial?stage biopharmaceutical company focused on developing and delivering therapies for people with rare neurological and endocrine diseases. Founded in 2017 and headquartered in Plymouth Meeting, Pennsylvania, Harmony Biosciences went public in 2020 and trades on the Nasdaq under the ticker HRMY. The company’s mission centers on identifying and advancing medicines that address critical unmet needs in patient populations underserved by existing treatments.

The company’s flagship product is WAKIX (pitolisant), the first and only histamine H3 receptor antagonist/inverse agonist approved by the U.S.