Trexquant Investment LP Takes Position in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY)

Trexquant Investment LP acquired a new position in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) during the 4th quarter, HoldingsChannel.com reports. The fund acquired 175,574 shares of the company’s stock, valued at approximately $6,042,000.

Several other institutional investors also recently bought and sold shares of HRMY. GAMMA Investing LLC grew its position in shares of Harmony Biosciences by 92.6% during the 4th quarter. GAMMA Investing LLC now owns 907 shares of the company’s stock worth $31,000 after buying an additional 436 shares in the last quarter. Mendota Financial Group LLC grew its holdings in Harmony Biosciences by 24,125.0% during the 4th quarter. Mendota Financial Group LLC now owns 969 shares of the company’s stock worth $33,000 after acquiring an additional 965 shares in the last quarter. KBC Group NV increased its position in Harmony Biosciences by 79.9% during the 4th quarter. KBC Group NV now owns 1,844 shares of the company’s stock valued at $63,000 after purchasing an additional 819 shares during the period. Quantbot Technologies LP purchased a new position in Harmony Biosciences during the 3rd quarter valued at about $74,000. Finally, PNC Financial Services Group Inc. raised its holdings in shares of Harmony Biosciences by 28.7% in the 4th quarter. PNC Financial Services Group Inc. now owns 2,328 shares of the company’s stock valued at $80,000 after purchasing an additional 519 shares in the last quarter. 86.23% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Harmony Biosciences news, insider Jeffrey Dierks sold 1,123 shares of Harmony Biosciences stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $40.00, for a total transaction of $44,920.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Sandip Kapadia sold 25,000 shares of the business’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $40.18, for a total value of $1,004,500.00. The disclosure for this sale can be found here. Insiders have sold 72,452 shares of company stock valued at $2,831,679 over the last ninety days. 30.80% of the stock is currently owned by insiders.

Harmony Biosciences Stock Performance

HRMY opened at $29.26 on Friday. The company has a market cap of $1.68 billion, a P/E ratio of 13.87, a price-to-earnings-growth ratio of 0.47 and a beta of 0.80. The company has a quick ratio of 3.20, a current ratio of 3.24 and a debt-to-equity ratio of 0.28. The firm’s 50-day moving average price is $35.30 and its 200-day moving average price is $35.28. Harmony Biosciences Holdings, Inc. has a 52-week low of $28.14 and a 52-week high of $41.61.

Harmony Biosciences (NASDAQ:HRMY) last released its earnings results on Tuesday, February 25th. The company reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.11. The company had revenue of $201.30 million for the quarter, compared to the consensus estimate of $201.25 million. Harmony Biosciences had a net margin of 17.98% and a return on equity of 23.16%. Harmony Biosciences’s revenue was up 19.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.45 EPS. As a group, equities analysts anticipate that Harmony Biosciences Holdings, Inc. will post 2.43 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently issued reports on HRMY shares. HC Wainwright cut their price objective on shares of Harmony Biosciences from $75.00 to $70.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. Needham & Company LLC reissued a “buy” rating and issued a $50.00 price target on shares of Harmony Biosciences in a research report on Tuesday, February 25th. Deutsche Bank Aktiengesellschaft assumed coverage on Harmony Biosciences in a research note on Tuesday, February 11th. They set a “buy” rating and a $55.00 price objective for the company. Finally, Mizuho boosted their target price on shares of Harmony Biosciences from $42.00 to $44.00 and gave the stock an “outperform” rating in a report on Tuesday, March 18th. Nine analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $53.33.

Harmony Biosciences 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.