Capital Management Corp VA Lowers Stake in Harmony Biosciences Holdings, Inc. $HRMY

Capital Management Corp VA cut its holdings in shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) by 8.4% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 322,912 shares of the company’s stock after selling 29,654 shares during the period. Harmony Biosciences makes up about 1.4% of Capital Management Corp VA’s portfolio, making the stock its 28th largest holding. Capital Management Corp VA’s holdings in Harmony Biosciences were worth $8,899,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of HRMY. American Century Companies Inc. boosted its position in Harmony Biosciences by 16.5% during the second 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 in the last quarter. LSV Asset Management raised its stake in shares of Harmony Biosciences by 24.6% during the 2nd quarter. LSV Asset Management now owns 1,488,502 shares of the company’s stock worth $47,037,000 after buying an additional 293,541 shares during the period. Marshall Wace LLP raised its stake in shares of Harmony Biosciences by 36.3% during the 2nd quarter. Marshall Wace LLP now owns 1,209,484 shares of the company’s stock worth $38,220,000 after buying an additional 321,947 shares during the period. Geode Capital Management LLC lifted its position in shares of Harmony Biosciences by 9.2% during the 2nd quarter. Geode Capital Management LLC now owns 1,054,348 shares of the company’s stock valued at $33,321,000 after buying an additional 88,598 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its stake in Harmony Biosciences by 127.6% in the 2nd 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. Institutional investors and hedge funds own 86.23% of the company’s stock.

Insider Buying and Selling at Harmony Biosciences

In other news, CFO Sandip Kapadia sold 3,746 shares of the business’s stock in a transaction dated Monday, January 26th. The shares were sold at an average price of $37.15, for a total transaction of $139,163.90. Following the transaction, the chief financial officer owned 24,521 shares of the company’s stock, valued at approximately $910,955.15. The trade was a 13.25% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Jeffrey M. Dayno sold 25,933 shares of the company’s stock in a transaction dated Friday, December 12th. The shares were sold at an average price of $40.11, for a total transaction of $1,040,172.63. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 50,640 shares of company stock valued at $1,932,256. 23.60% of the stock is owned by company insiders.

Harmony Biosciences Stock Down 0.9%

HRMY stock opened at $36.52 on Friday. The company has a current ratio of 3.75, a quick ratio of 3.72 and a debt-to-equity ratio of 0.18. The firm has a 50-day moving average of $37.41 and a two-hundred day moving average of $34.26. Harmony Biosciences Holdings, Inc. has a 12 month low of $25.52 and a 12 month high of $40.87. The company has a market cap of $2.10 billion, a price-to-earnings ratio of 11.48, a PEG ratio of 0.34 and a beta of 0.84.

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

Analysts Set New Price Targets

A number of equities analysts have weighed in on HRMY shares. UBS Group reduced their price objective on shares of Harmony Biosciences from $50.00 to $43.00 and set a “buy” rating for the company in a research report on Wednesday, October 15th. Truist Financial reduced their price target on shares of Harmony Biosciences from $48.00 to $45.00 and set a “buy” rating for the company in a research report on Thursday, January 8th. Oppenheimer reiterated an “outperform” rating and issued a $62.00 price objective on shares of Harmony Biosciences in a report on Monday, November 24th. Needham & Company LLC reiterated a “buy” rating and set a $42.00 price objective on shares of Harmony Biosciences in a research note on Monday, November 24th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Harmony Biosciences in a research report on Monday, December 29th. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $45.25.

Harmony Biosciences 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.