New Age Alpha Advisors LLC Purchases New Shares in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY)

New Age Alpha Advisors LLC acquired a new stake in shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 49,632 shares of the company's stock, valued at approximately $1,708,000. New Age Alpha Advisors LLC owned approximately 0.09% of Harmony Biosciences as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. GAMMA Investing LLC boosted its position in shares of Harmony Biosciences by 92.6% during the fourth quarter. GAMMA Investing LLC now owns 907 shares of the company's stock valued at $31,000 after buying an additional 436 shares during the last quarter. Mendota Financial Group LLC boosted its holdings in shares of Harmony Biosciences by 24,125.0% during the 4th quarter. Mendota Financial Group LLC now owns 969 shares of the company's stock valued at $33,000 after acquiring an additional 965 shares during the last quarter. KBC Group NV grew its stake in shares of Harmony Biosciences by 79.9% in the fourth quarter. KBC Group NV now owns 1,844 shares of the company's stock worth $63,000 after acquiring an additional 819 shares during the period. Quantbot Technologies LP bought a new stake in shares of Harmony Biosciences in the third quarter worth approximately $74,000. Finally, PNC Financial Services Group Inc. raised its holdings in shares of Harmony Biosciences by 28.7% during the fourth quarter. PNC Financial Services Group Inc. now owns 2,328 shares of the company's stock valued at $80,000 after purchasing an additional 519 shares during the last quarter. 86.23% of the stock is currently owned by institutional investors.

Remove Ads

Harmony Biosciences Stock Performance

HRMY traded down $1.71 during midday trading on Friday, reaching $29.26. The company had a trading volume of 959,565 shares, compared to its average volume of 558,924. The business has a 50-day moving average of $35.30 and a two-hundred day moving average of $35.28. The company has a quick ratio of 3.20, a current ratio of 3.24 and a debt-to-equity ratio of 0.28. Harmony Biosciences Holdings, Inc. has a 1 year low of $26.89 and a 1 year high of $41.61. The company has a market cap of $1.68 billion, a P/E ratio of 13.87, a P/E/G ratio of 0.47 and a beta of 0.80.

Harmony Biosciences (NASDAQ:HRMY - Get Free Report) last released its earnings results on Tuesday, February 25th. The company reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.11. Harmony Biosciences had a net margin of 17.98% and a return on equity of 23.16%. The company had revenue of $201.30 million during the quarter, compared to analyst estimates of $201.25 million. During the same period in the prior year, the firm posted $0.45 EPS. The firm's quarterly revenue was up 19.5% compared to the same quarter last year. As a group, equities research analysts predict that Harmony Biosciences Holdings, Inc. will post 2.43 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Jeffrey M. Dayno sold 19,293 shares of the company's stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $40.13, for a total value of $774,228.09. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jeffrey Dierks sold 1,123 shares of Harmony Biosciences stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $40.00, for a total value of $44,920.00. The disclosure for this sale can be found here. Insiders have sold 72,452 shares of company stock worth $2,831,679 in the last three months. Company insiders own 30.80% of the company's stock.

Wall Street Analysts Forecast Growth

HRMY has been the subject of a number of research analyst reports. Mizuho lifted their target price on shares of Harmony Biosciences from $42.00 to $44.00 and gave the stock an "outperform" rating in a research report on Tuesday, March 18th. Deutsche Bank Aktiengesellschaft started coverage on Harmony Biosciences in a report on Tuesday, February 11th. They issued a "buy" rating and a $55.00 price objective for the company. HC Wainwright lowered their target price on Harmony Biosciences from $75.00 to $70.00 and set a "buy" rating on the stock in a report on Thursday, February 27th. Finally, Needham & Company LLC reissued a "buy" rating and issued a $50.00 target price on shares of Harmony Biosciences in a research report on Tuesday, February 25th. Nine research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $53.33.

Harmony Biosciences Company Profile

Harmony Biosciences Holdings, Inc, a commercial-stage pharmaceutical company, focuses on developing and commercializing therapies for patients with rare and other neurological diseases in the United States. The company offers WAKIX (pitolisant), a molecule with a novel mechanism of action for the treatment of excessive daytime sleepiness in adult patients with narcolepsy.