Y Intercept Hong Kong Ltd Increases Stake in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY)

Y Intercept Hong Kong Ltd lifted its holdings in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY - Free Report) by 287.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 27,061 shares of the company's stock after purchasing an additional 20,070 shares during the quarter. Y Intercept Hong Kong Ltd's holdings in Harmony Biosciences were worth $931,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of HRMY. Creative Planning purchased a new position in shares of Harmony Biosciences in the third quarter worth approximately $246,000. Mirae Asset Global Investments Co. Ltd. raised its position in Harmony Biosciences by 21.2% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,056 shares of the company's stock worth $80,000 after acquiring an additional 360 shares during the period. Nisa Investment Advisors LLC boosted its stake in shares of Harmony Biosciences by 8,867.7% during the 3rd quarter. Nisa Investment Advisors LLC now owns 5,560 shares of the company's stock worth $222,000 after acquiring an additional 5,498 shares during the last quarter. China Universal Asset Management Co. Ltd. grew its position in shares of Harmony Biosciences by 63.8% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 10,931 shares of the company's stock valued at $437,000 after acquiring an additional 4,259 shares during the period. Finally, CWA Asset Management Group LLC purchased a new position in Harmony Biosciences during the third quarter valued at $576,000. 86.23% of the stock is owned by institutional investors.

Insider Activity

In other Harmony Biosciences news, CFO Sandip Kapadia sold 25,000 shares of the stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $40.18, for a total transaction of $1,004,500.00. 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 1,629 shares of Harmony Biosciences stock in a transaction on Monday, January 27th. The stock was sold at an average price of $38.02, for a total transaction of $61,934.58. The disclosure for this sale can be found here. In the last ninety days, insiders sold 72,452 shares of company stock worth $2,831,679. 30.80% of the stock is currently owned by insiders.

Harmony Biosciences Price Performance

NASDAQ HRMY traded down $1.70 on Monday, reaching $32.15. The company had a trading volume of 489,740 shares, compared to its average volume of 633,983. The stock has a market capitalization of $1.84 billion, a PE ratio of 15.24, a price-to-earnings-growth ratio of 0.47 and a beta of 0.80. Harmony Biosciences Holdings, Inc. has a 12 month low of $28.14 and a 12 month high of $41.61. The company has a quick ratio of 3.20, a current ratio of 3.24 and a debt-to-equity ratio of 0.28. The firm's 50 day moving average price is $36.63 and its 200 day moving average price is $35.81.

Harmony Biosciences (NASDAQ:HRMY - Get Free Report) last issued 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. The firm had revenue of $201.30 million for the quarter, compared to analysts' expectations of $201.25 million. Harmony Biosciences had a return on equity of 23.16% and a net margin of 17.98%. The business's revenue was up 19.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.45 earnings per share. As a group, equities analysts predict that Harmony Biosciences Holdings, Inc. will post 2.43 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have recently weighed in on HRMY. Deutsche Bank Aktiengesellschaft assumed coverage on Harmony Biosciences in a research report on Tuesday, February 11th. They set a "buy" rating and a $55.00 price objective on the stock. HC Wainwright dropped their price target on shares of Harmony Biosciences from $75.00 to $70.00 and set a "buy" rating for the company in a research report on Thursday. Needham & Company LLC reissued a "buy" rating and issued a $50.00 price objective on shares of Harmony Biosciences in a research note on Tuesday, February 25th. Finally, Mizuho dropped their target price on shares of Harmony Biosciences from $52.00 to $42.00 and set an "outperform" rating for the company in a report on Thursday, February 20th. Nine equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has an average rating of "Buy" and an average price target of $53.11.

About Harmony Biosciences

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.