Hussman Strategic Advisors Inc. Buys 21,000 Shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY)

Hussman Strategic Advisors Inc. increased its stake in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) by 33.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 84,000 shares of the company’s stock after purchasing an additional 21,000 shares during the period. Harmony Biosciences makes up 0.9% of Hussman Strategic Advisors Inc.’s holdings, making the stock its 25th biggest holding. Hussman Strategic Advisors Inc. owned 0.15% of Harmony Biosciences worth $2,890,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the stock. Handelsbanken Fonder AB increased its position in shares of Harmony Biosciences by 19.5% in the fourth quarter. Handelsbanken Fonder AB now owns 13,500 shares of the company’s stock worth $465,000 after purchasing an additional 2,200 shares during the period. Alberta Investment Management Corp increased its position in shares of Harmony Biosciences by 44.0% in the fourth quarter. Alberta Investment Management Corp now owns 38,600 shares of the company’s stock worth $1,328,000 after purchasing an additional 11,800 shares during the period. New York State Common Retirement Fund increased its position in shares of Harmony Biosciences by 30.3% in the fourth quarter. New York State Common Retirement Fund now owns 61,878 shares of the company’s stock worth $2,129,000 after purchasing an additional 14,406 shares during the period. Principal Financial Group Inc. increased its position in shares of Harmony Biosciences by 28.4% in the fourth quarter. Principal Financial Group Inc. now owns 208,663 shares of the company’s stock worth $7,180,000 after purchasing an additional 46,194 shares during the period. Finally, Rhumbline Advisers increased its position in shares of Harmony Biosciences by 18.0% in the fourth quarter. Rhumbline Advisers now owns 108,588 shares of the company’s stock worth $3,736,000 after purchasing an additional 16,537 shares during the period. Institutional investors own 86.23% of the company’s stock.

Insider Buying and Selling

In other Harmony Biosciences news, CFO Sandip Kapadia sold 1,775 shares of the business’s stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $38.05, for a total value of $67,538.75. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Jeffrey Dierks sold 1,123 shares of the business’s stock in a transaction that occurred 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. Insiders have sold a total of 72,452 shares of company stock valued at $2,831,679 over the last ninety days. 30.80% of the stock is owned by company insiders.

Harmony Biosciences Price Performance

Harmony Biosciences stock opened at $35.32 on Thursday. The stock’s 50 day moving average is $36.47 and its 200 day moving average is $35.75. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.24 and a quick ratio of 3.20. The firm 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. Harmony Biosciences Holdings, Inc. has a one year low of $28.14 and a one year high of $41.61.

Wall Street Analysts Forecast Growth

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