Allspring Global Investments Holdings LLC Reduces Stock Position in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY)

Allspring Global Investments Holdings LLC cut its stake in Harmony Biosciences Holdings, Inc. (NASDAQ:HRMY) by 30.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 34,875 shares of the company’s stock after selling 15,256 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.06% of Harmony Biosciences worth $1,126,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. China Universal Asset Management Co. Ltd. increased its stake in shares of Harmony Biosciences by 342.1% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 6,777 shares of the company’s stock worth $219,000 after purchasing an additional 5,244 shares in the last quarter. Pacer Advisors Inc. increased its stake in shares of Harmony Biosciences by 534,795.2% during the 4th quarter. Pacer Advisors Inc. now owns 1,224,910 shares of the company’s stock worth $39,565,000 after purchasing an additional 1,224,681 shares in the last quarter. Exchange Traded Concepts LLC increased its stake in shares of Harmony Biosciences by 0.8% during the 4th quarter. Exchange Traded Concepts LLC now owns 40,889 shares of the company’s stock worth $1,321,000 after purchasing an additional 328 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Harmony Biosciences by 2.5% during the 3rd quarter. Vanguard Group Inc. now owns 3,684,152 shares of the company’s stock worth $120,730,000 after purchasing an additional 88,295 shares in the last quarter. Finally, ELCO Management Co. LLC purchased a new position in shares of Harmony Biosciences during the 3rd quarter worth approximately $210,000. 86.23% of the stock is owned by hedge funds and other institutional investors.

Harmony Biosciences Stock Down 1.7 %

Shares of HRMY opened at $28.85 on Wednesday. The firm has a market cap of $1.64 billion, a PE ratio of 13.61, a price-to-earnings-growth ratio of 0.41 and a beta of 0.73. The company’s fifty day moving average is $31.68 and its two-hundred day moving average is $30.01. Harmony Biosciences Holdings, Inc. has a fifty-two week low of $18.61 and a fifty-two week high of $39.26. The company has a quick ratio of 2.72, a current ratio of 2.75 and a debt-to-equity ratio of 0.38.

Harmony Biosciences (NASDAQ:HRMY) last announced its quarterly earnings results on Thursday, February 22nd. The company reported $0.45 earnings per share for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.29). The company had revenue of $168.40 million during the quarter, compared to analyst estimates of $168.90 million. Harmony Biosciences had a net margin of 22.16% and a return on equity of 27.49%. The firm’s revenue for the quarter was up 31.3% compared to the same quarter last year. During the same quarter last year, the business earned $1.01 EPS. Analysts forecast that Harmony Biosciences Holdings, Inc. will post 3 earnings per share for the current year.

Analyst Ratings Changes

HRMY has been the subject of a number of recent research reports. Mizuho dropped their price objective on shares of Harmony Biosciences from $42.00 to $40.00 and set a “buy” rating for the company in a research note on Tuesday, February 27th. The Goldman Sachs Group lifted their target price on shares of Harmony Biosciences from $25.00 to $28.00 and gave the stock a “sell” rating in a research note on Tuesday, January 9th. Bank of America reaffirmed an “underperform” rating and issued a $30.00 target price on shares of Harmony Biosciences in a research note on Tuesday, January 2nd. Needham & Company LLC reaffirmed a “buy” rating and issued a $50.00 target price on shares of Harmony Biosciences in a research note on Tuesday, April 9th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $49.00 target price on shares of Harmony Biosciences in a research note on Friday, April 12th. Two analysts have rated the stock with a sell rating and six have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $40.63.

Insider Buying and Selling at Harmony Biosciences

In other Harmony Biosciences news, insider Jeffrey Dierks sold 11,979 shares of Harmony Biosciences stock in a transaction on Friday, March 15th. The shares were sold at an average price of $32.00, for a total value of $383,328.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 30.80% of the stock is owned by company insiders.

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.