AlphaQuest LLC Sells 22,625 Shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY)

AlphaQuest LLC lowered its position in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY - Free Report) by 63.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,098 shares of the company's stock after selling 22,625 shares during the period. AlphaQuest LLC's holdings in Harmony Biosciences were worth $451,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of HRMY. GAMMA Investing LLC raised its position in Harmony Biosciences by 92.6% in the 4th quarter. GAMMA Investing LLC now owns 907 shares of the company's stock valued at $31,000 after purchasing an additional 436 shares during the last quarter. Mendota Financial Group LLC lifted its position in Harmony Biosciences by 24,125.0% during the 4th quarter. Mendota Financial Group LLC now owns 969 shares of the company's stock worth $33,000 after buying an additional 965 shares in the last quarter. KBC Group NV lifted its position in Harmony Biosciences by 79.9% during the 4th quarter. KBC Group NV now owns 1,844 shares of the company's stock worth $63,000 after buying an additional 819 shares in the last quarter. Quantbot Technologies LP bought a new stake in Harmony Biosciences during the 3rd quarter worth about $74,000. Finally, PNC Financial Services Group Inc. increased its position in Harmony Biosciences by 28.7% in the 4th quarter. PNC Financial Services Group Inc. now owns 2,328 shares of the company's stock valued at $80,000 after acquiring an additional 519 shares in the last quarter. 86.23% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CFO Sandip Kapadia sold 1,775 shares of the firm's stock in a transaction on Monday, January 27th. The shares were sold at an average price of $38.05, for a total transaction of $67,538.75. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Jeffrey Dierks sold 1,123 shares of the business's stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $40.00, for a total transaction 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 90 days. Corporate insiders own 30.80% of the company's stock.

Harmony Biosciences Price Performance

Harmony Biosciences stock opened at $32.72 on Friday. The company has a current ratio of 3.24, a quick ratio of 3.20 and a debt-to-equity ratio of 0.28. The firm has a market capitalization of $1.88 billion, a P/E ratio of 15.51, a PEG ratio of 0.47 and a beta of 0.82. The business has a 50-day moving average of $36.44 and a 200-day moving average of $35.65. Harmony Biosciences Holdings, Inc. has a 1 year low of $28.14 and a 1 year high of $41.61.

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Harmony Biosciences (NASDAQ:HRMY - Get Free Report) last announced its quarterly earnings results on Tuesday, February 25th. The company reported $0.85 earnings per share for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $201.25 million. During the same period last year, the firm posted $0.45 earnings per share. The business's quarterly revenue was up 19.5% compared to the same quarter last year. On average, equities analysts anticipate that Harmony Biosciences Holdings, Inc. will post 2.43 EPS for the current year.

Analyst Ratings Changes

Several research firms have recently commented on HRMY. Deutsche Bank Aktiengesellschaft started coverage on shares of Harmony Biosciences in a research note on Tuesday, February 11th. They set a "buy" rating and a $55.00 price target on the stock. Mizuho decreased their price objective on Harmony Biosciences from $52.00 to $42.00 and set an "outperform" rating on the stock in a research report on Thursday, February 20th. HC Wainwright decreased their price target 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 set a $50.00 price objective on shares of Harmony Biosciences in a report on Tuesday, February 25th. Nine analysts have rated the stock with a buy rating, According to MarketBeat.com, Harmony Biosciences currently has an average rating of "Buy" and a consensus target price of $53.11.

Harmony Biosciences 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.

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