Denali Advisors LLC Purchases 22,661 Shares of Harmony Biosciences Holdings, Inc. $HRMY

Denali Advisors LLC increased its position in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) by 28.6% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 102,028 shares of the company’s stock after acquiring an additional 22,661 shares during the period. Denali Advisors LLC’s holdings in Harmony Biosciences were worth $2,812,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in HRMY. Parkside Financial Bank & Trust boosted its position in shares of Harmony Biosciences by 4,185.2% during the second quarter. Parkside Financial Bank & Trust now owns 1,157 shares of the company’s stock valued at $37,000 after buying an additional 1,130 shares during the last quarter. Tower Research Capital LLC TRC lifted its stake in Harmony Biosciences by 338.9% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,511 shares of the company’s stock valued at $111,000 after acquiring an additional 2,711 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new stake in shares of Harmony Biosciences during the 2nd quarter valued at about $120,000. Ameritas Investment Partners Inc. grew its stake in shares of Harmony Biosciences by 12.0% in the second quarter. Ameritas Investment Partners Inc. now owns 4,466 shares of the company’s stock worth $141,000 after acquiring an additional 479 shares during the period. Finally, EMC Capital Management purchased a new position in shares of Harmony Biosciences during the second quarter valued at approximately $195,000. 86.23% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

HRMY has been the topic of several research reports. UBS Group cut shares of Harmony Biosciences from a “buy” rating to a “neutral” rating and raised their target price for the stock from $43.00 to $46.00 in a report on Wednesday, February 11th. HC Wainwright reaffirmed a “buy” rating on shares of Harmony Biosciences in a report on Wednesday, December 3rd. Wall Street Zen raised Harmony Biosciences from a “hold” rating to a “buy” rating in a report on Saturday, December 13th. Needham & Company LLC restated a “buy” rating and set a $42.00 price target on shares of Harmony Biosciences in a research note on Monday, November 24th. Finally, Truist Financial lowered their price objective 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. Two analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $45.63.

Insider Buying and Selling

In related news, CEO Jeffrey M. Dayno sold 25,933 shares of the company’s stock in a transaction on Friday, December 12th. The shares were sold at an average price of $40.11, for a total value of $1,040,172.63. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Sandip Kapadia sold 3,746 shares of the stock in a transaction on Monday, January 26th. The stock was sold at an average price of $37.15, for a total value of $139,163.90. Following the completion of the sale, the chief financial officer owned 24,521 shares of the company’s stock, valued at $910,955.15. The trade was a 13.25% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 50,640 shares of company stock worth $1,932,256. 23.60% of the stock is owned by company insiders.

Harmony Biosciences Stock Up 0.4%

NASDAQ HRMY opened at $36.01 on Monday. Harmony Biosciences Holdings, Inc. has a 52 week low of $25.52 and a 52 week high of $40.87. The company has a quick ratio of 3.72, a current ratio of 3.75 and a debt-to-equity ratio of 0.18. The company has a market capitalization of $2.07 billion, a P/E ratio of 11.32, a price-to-earnings-growth ratio of 0.33 and a beta of 0.84. The stock’s 50-day moving average price is $37.53 and its 200-day moving average price is $34.31.

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.