Exchange Traded Concepts LLC Has $1.79 Million Position in Harmony Biosciences Holdings, Inc. $HRMY

Exchange Traded Concepts LLC boosted its stake in shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) by 102.6% during the third quarter, Holdings Channel.com reports. The fund owned 65,023 shares of the company’s stock after acquiring an additional 32,923 shares during the period. Exchange Traded Concepts LLC’s holdings in Harmony Biosciences were worth $1,792,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Voya Investment Management LLC increased its position in shares of Harmony Biosciences by 56.3% in the third quarter. Voya Investment Management LLC now owns 52,213 shares of the company’s stock worth $1,439,000 after purchasing an additional 18,812 shares during the period. City Center Advisors LLC bought a new stake in shares of Harmony Biosciences in the third quarter worth $221,000. Texas Permanent School Fund Corp grew its stake in shares of Harmony Biosciences by 28.4% in the second quarter. Texas Permanent School Fund Corp now owns 34,732 shares of the company’s stock worth $1,098,000 after purchasing an additional 7,686 shares during the last quarter. Cim LLC increased its holdings in Harmony Biosciences by 5.7% in the second quarter. Cim LLC now owns 13,641 shares of the company’s stock valued at $431,000 after purchasing an additional 730 shares during the period. Finally, State of Wyoming raised its position in Harmony Biosciences by 41.2% during the 2nd quarter. State of Wyoming now owns 8,885 shares of the company’s stock worth $281,000 after purchasing an additional 2,591 shares during the last quarter. 86.23% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Harmony Biosciences news, CEO Jeffrey M. Dayno sold 25,933 shares of Harmony Biosciences 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 23.60% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on HRMY shares. Deutsche Bank Aktiengesellschaft reduced their price target on Harmony Biosciences from $54.00 to $36.00 and set a “buy” rating on the stock in a research report on Thursday, September 25th. HC Wainwright reaffirmed a “buy” rating on shares of Harmony Biosciences in a research note on Wednesday, December 3rd. Wall Street Zen raised shares of Harmony Biosciences from a “hold” rating to a “buy” rating in a research report on Saturday, December 13th. Mizuho boosted their price target on shares of Harmony Biosciences from $39.00 to $46.00 and gave the stock an “outperform” rating in a research report on Monday, December 1st. Finally, UBS Group reduced their price objective on shares of Harmony Biosciences from $50.00 to $43.00 and set a “buy” rating on the stock in a research note on Wednesday, October 15th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $45.63.

Harmony Biosciences Trading Down 0.9%

Shares of HRMY stock opened at $38.13 on Friday. Harmony Biosciences Holdings, Inc. has a fifty-two week low of $25.52 and a fifty-two week high of $40.93. The company has a debt-to-equity ratio of 0.18, a quick ratio of 3.72 and a current ratio of 3.75. The stock has a 50 day simple moving average of $34.38 and a two-hundred day simple moving average of $33.54. The company has a market cap of $2.20 billion, a P/E ratio of 11.99, a PEG ratio of 0.48 and a beta of 0.80.

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

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.