PDT Partners LLC Sells 6,514 Shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY)

PDT Partners LLC lessened its position in shares of Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) by 7.6% in the 3rd quarter, HoldingsChannel reports. The fund owned 79,654 shares of the company’s stock after selling 6,514 shares during the period. PDT Partners LLC’s holdings in Harmony Biosciences were worth $3,186,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the company. Verition Fund Management LLC raised its stake in shares of Harmony Biosciences by 168.8% during the 3rd quarter. Verition Fund Management LLC now owns 54,976 shares of the company’s stock worth $2,199,000 after acquiring an additional 34,524 shares in the last quarter. Martingale Asset Management L P increased its stake in Harmony Biosciences by 75.3% during the 3rd quarter. Martingale Asset Management L P now owns 34,783 shares of the company’s stock valued at $1,391,000 after purchasing an additional 14,946 shares in the last quarter. Quantbot Technologies LP acquired a new position in Harmony Biosciences during the 3rd quarter valued at approximately $74,000. StoneX Group Inc. acquired a new position in Harmony Biosciences during the 3rd quarter valued at approximately $755,000. Finally, Citigroup Inc. increased its stake in Harmony Biosciences by 9.8% during the 3rd quarter. Citigroup Inc. now owns 177,843 shares of the company’s stock valued at $7,114,000 after purchasing an additional 15,859 shares in the last quarter. Institutional investors own 86.23% of the company’s stock.

Insider Buying and Selling

In related news, insider Jeffrey Dierks sold 21,496 shares of the stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $40.47, for a total transaction of $869,943.12. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 30.80% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on HRMY shares. Cantor Fitzgerald upped their price target on shares of Harmony Biosciences from $51.00 to $58.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Oppenheimer restated an “outperform” rating and set a $59.00 price target (up previously from $56.00) on shares of Harmony Biosciences in a research note on Wednesday, October 30th. UBS Group started coverage on shares of Harmony Biosciences in a research note on Tuesday, September 10th. They set a “buy” rating and a $56.00 price target on the stock. Mizuho upped their price target on shares of Harmony Biosciences from $42.00 to $52.00 and gave the company an “outperform” rating in a research note on Thursday, October 10th. Finally, Raymond James reiterated an “outperform” rating and issued a $40.00 price objective on shares of Harmony Biosciences in a research note on Thursday, October 10th. Two analysts have rated the stock with a sell rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Harmony Biosciences presently has a consensus rating of “Moderate Buy” and an average price target of $47.00.

Harmony Biosciences Stock Down 3.0 %

NASDAQ:HRMY opened at $34.67 on Friday. The firm has a market capitalization of $1.98 billion, a P/E ratio of 16.43, a PEG ratio of 0.66 and a beta of 0.77. Harmony Biosciences Holdings, Inc. has a 1-year low of $28.14 and a 1-year high of $41.61. The company’s fifty day moving average price is $35.16 and its 200-day moving average price is $33.69. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.24 and a quick ratio of 3.20.

Harmony Biosciences (NASDAQ:HRMY) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $0.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.15. Harmony Biosciences had a net margin of 17.98% and a return on equity of 23.16%. The firm had revenue of $186.00 million for the quarter, compared to the consensus estimate of $184.07 million. During the same period in the prior year, the firm posted $0.63 earnings per share. The firm’s quarterly revenue was up 16.0% compared to the same quarter last year. As a group, equities research analysts anticipate that Harmony Biosciences Holdings, Inc. will post 2.36 EPS for the current year.

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.