Harmony Biosciences Holdings, Inc. $HRMY Shares Sold by Nan Fung Group Holdings Ltd

Nan Fung Group Holdings Ltd cut its stake in shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) by 92.7% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 27,049 shares of the company’s stock after selling 341,616 shares during the period. Harmony Biosciences makes up about 1.2% of Nan Fung Group Holdings Ltd’s holdings, making the stock its 18th biggest position. Nan Fung Group Holdings Ltd’s holdings in Harmony Biosciences were worth $745,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Amundi increased its stake in Harmony Biosciences by 115.6% in the 1st quarter. Amundi now owns 39,668 shares of the company’s stock worth $1,229,000 after purchasing an additional 21,266 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Harmony Biosciences by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,651 shares of the company’s stock worth $752,000 after buying an additional 984 shares during the period. Empowered Funds LLC purchased a new stake in Harmony Biosciences during the first quarter valued at about $2,330,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Harmony Biosciences by 53.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 95,389 shares of the company’s stock worth $3,166,000 after buying an additional 33,058 shares during the period. Finally, Bank of Montreal Can boosted its holdings in shares of Harmony Biosciences by 14.6% in the second quarter. Bank of Montreal Can now owns 13,559 shares of the company’s stock worth $428,000 after buying an additional 1,729 shares during the period. 86.23% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on HRMY shares. Weiss Ratings reissued a “hold (c)” rating on shares of Harmony Biosciences in a research report on Monday, December 29th. UBS Group decreased their price objective on shares of Harmony Biosciences from $46.00 to $36.00 and set a “neutral” rating for the company in a research note on Wednesday, February 25th. Mizuho set a $50.00 price objective on shares of Harmony Biosciences in a research report on Thursday, February 19th. Bank of America cut their target price on shares of Harmony Biosciences from $32.00 to $28.00 and set an “underperform” rating on the stock in a research note on Wednesday, February 25th. Finally, Truist Financial lowered Harmony Biosciences from a “buy” rating to a “hold” rating in a report on Monday, February 23rd. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $42.67.

Harmony Biosciences Stock Down 0.6%

HRMY stock opened at $27.61 on Friday. The company has a 50 day moving average of $34.09 and a two-hundred day moving average of $33.49. The company has a market cap of $1.60 billion, a price-to-earnings ratio of 10.19, a PEG ratio of 0.38 and a beta of 0.88. Harmony Biosciences Holdings, Inc. has a 12-month low of $25.52 and a 12-month high of $40.87. The company has a quick ratio of 3.58, a current ratio of 3.60 and a debt-to-equity ratio of 0.17.

Harmony Biosciences (NASDAQ:HRMY) last posted its quarterly earnings results on Tuesday, February 24th. The company reported $0.38 EPS for the quarter, missing the consensus estimate of $0.84 by ($0.46). Harmony Biosciences had a net margin of 18.29% and a return on equity of 19.86%. The company had revenue of $243.78 million for the quarter, compared to analysts’ expectations of $240.04 million. During the same quarter in the prior year, the firm earned $0.85 earnings per share. The company’s revenue was up 21.1% on a year-over-year basis. On average, equities analysts anticipate that Harmony Biosciences Holdings, Inc. will post 2.43 earnings per share for the current fiscal year.

Insider Transactions at Harmony Biosciences

In other Harmony Biosciences news, CFO Sandip Kapadia sold 3,746 shares of the business’s stock in a transaction dated Monday, January 26th. The stock was sold at an average price of $37.15, for a total value of $139,163.90. Following the transaction, the chief financial officer owned 24,521 shares in the company, valued at $910,955.15. The trade was a 13.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 23.60% of the company’s stock.

About Harmony Biosciences

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.