Hussman Strategic Advisors Inc. Has $2.89 Million Holdings in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY)

Hussman Strategic Advisors Inc. grew its position in shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) by 33.3% in the 4th quarter, HoldingsChannel reports. The fund owned 84,000 shares of the company’s stock after buying an additional 21,000 shares during the period. Harmony Biosciences makes up about 0.9% of Hussman Strategic Advisors Inc.’s holdings, making the stock its 25th biggest holding. Hussman Strategic Advisors Inc.’s holdings in Harmony Biosciences were worth $2,890,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Pacer Advisors Inc. increased its holdings in shares of Harmony Biosciences by 18.2% during the fourth quarter. Pacer Advisors Inc. now owns 2,279,918 shares of the company’s stock valued at $78,452,000 after acquiring an additional 351,582 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of Harmony Biosciences by 27.1% during the third quarter. Massachusetts Financial Services Co. MA now owns 660,391 shares of the company’s stock valued at $26,416,000 after acquiring an additional 140,690 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Harmony Biosciences by 68.4% during the third quarter. JPMorgan Chase & Co. now owns 230,428 shares of the company’s stock valued at $9,217,000 after acquiring an additional 93,622 shares in the last quarter. Principal Financial Group Inc. grew its holdings in Harmony Biosciences by 28.4% during the fourth quarter. Principal Financial Group Inc. now owns 208,663 shares of the company’s stock worth $7,180,000 after buying an additional 46,194 shares in the last quarter. Finally, Citigroup Inc. grew its holdings in Harmony Biosciences by 9.8% during the third quarter. Citigroup Inc. now owns 177,843 shares of the company’s stock worth $7,114,000 after buying an additional 15,859 shares in the last quarter. Institutional investors own 86.23% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Jeffrey M. Dayno sold 19,293 shares of the company’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $40.13, for a total transaction of $774,228.09. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Jeffrey Dierks sold 1,123 shares of the company’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $40.00, for a total value of $44,920.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 72,452 shares of company stock valued at $2,831,679. Insiders own 30.80% of the company’s stock.

Harmony Biosciences Stock Down 9.6 %

HRMY stock opened at $35.32 on Thursday. The stock’s fifty day simple moving average is $36.47 and its two-hundred day simple moving average is $35.75. The company has a current ratio of 3.24, a quick ratio of 3.20 and a debt-to-equity ratio of 0.28. Harmony Biosciences Holdings, Inc. has a 1-year low of $28.14 and a 1-year high of $41.61. The stock has a market cap of $2.01 billion, a P/E ratio of 16.74, a P/E/G ratio of 0.52 and a beta of 0.80.

Analyst Upgrades and Downgrades

HRMY has been the subject of several recent research reports. Cantor Fitzgerald upped their price target on Harmony Biosciences from $51.00 to $58.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Needham & Company LLC decreased their price target on Harmony Biosciences from $52.00 to $50.00 and set a “buy” rating for the company in a report on Wednesday. Deutsche Bank Aktiengesellschaft initiated coverage on Harmony Biosciences in a report on Tuesday, February 11th. They set a “buy” rating and a $55.00 price target for the company. Oppenheimer reiterated an “outperform” rating and set a $59.00 price target (up previously from $56.00) on shares of Harmony Biosciences in a report on Wednesday, October 30th. Finally, HC Wainwright reiterated a “buy” rating and set a $75.00 price target on shares of Harmony Biosciences in a report on Wednesday. Nine investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Harmony Biosciences has a consensus rating of “Buy” and an average target price of $54.78.

Harmony Biosciences Company 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.