Azzad Asset Management Inc. ADV Takes $875,000 Position in Halozyme Therapeutics, Inc. $HALO

Azzad Asset Management Inc. ADV bought a new stake in Halozyme Therapeutics, Inc. (NASDAQ:HALO) in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm bought 11,930 shares of the biopharmaceutical company’s stock, valued at approximately $875,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. DLD Asset Management LP bought a new position in Halozyme Therapeutics during the second quarter worth about $650,250,000. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Halozyme Therapeutics by 127.8% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 2,541,181 shares of the biopharmaceutical company’s stock worth $132,192,000 after acquiring an additional 1,425,674 shares during the last quarter. Federated Hermes Inc. grew its holdings in shares of Halozyme Therapeutics by 294.1% during the 3rd quarter. Federated Hermes Inc. now owns 1,450,704 shares of the biopharmaceutical company’s stock valued at $106,395,000 after purchasing an additional 1,082,638 shares during the last quarter. LSV Asset Management lifted its stake in Halozyme Therapeutics by 40.2% in the second quarter. LSV Asset Management now owns 1,255,240 shares of the biopharmaceutical company’s stock worth $65,298,000 after purchasing an additional 360,049 shares during the last quarter. Finally, Royal London Asset Management Ltd. grew its stake in shares of Halozyme Therapeutics by 122.3% during the second quarter. Royal London Asset Management Ltd. now owns 1,101,912 shares of the biopharmaceutical company’s stock valued at $57,321,000 after buying an additional 606,236 shares during the last quarter. 97.79% of the stock is currently owned by hedge funds and other institutional investors.

Halozyme Therapeutics Trading Down 0.9%

Shares of NASDAQ:HALO opened at $80.48 on Tuesday. The company has a market capitalization of $9.46 billion, a PE ratio of 16.94, a PEG ratio of 0.34 and a beta of 0.97. Halozyme Therapeutics, Inc. has a 12-month low of $47.50 and a 12-month high of $82.22. The business has a 50 day moving average of $69.68 and a two-hundred day moving average of $69.39. The company has a current ratio of 1.59, a quick ratio of 1.37 and a debt-to-equity ratio of 1.59.

Wall Street Analysts Forecast Growth

Several brokerages have commented on HALO. HC Wainwright restated a “buy” rating on shares of Halozyme Therapeutics in a report on Thursday, January 29th. The Goldman Sachs Group reaffirmed a “sell” rating and issued a $56.00 target price on shares of Halozyme Therapeutics in a research report on Thursday, December 4th. Wall Street Zen raised Halozyme Therapeutics from a “buy” rating to a “strong-buy” rating in a report on Saturday, January 31st. JPMorgan Chase & Co. upped their price objective on Halozyme Therapeutics from $63.00 to $65.00 and gave the company a “neutral” rating in a research report on Monday, October 27th. Finally, Morgan Stanley decreased their target price on shares of Halozyme Therapeutics from $80.00 to $79.00 and set an “overweight” rating on the stock in a research note on Monday, October 20th. Seven analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $78.80.

Insider Activity at Halozyme Therapeutics

In related news, CEO Helen Torley sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $76.12, for a total value of $1,522,400.00. Following the sale, the chief executive officer owned 708,719 shares of the company’s stock, valued at approximately $53,947,690.28. This represents a 2.74% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Bernadette Connaughton sold 2,000 shares of Halozyme Therapeutics stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $70.25, for a total value of $140,500.00. Following the completion of the sale, the director owned 40,123 shares of the company’s stock, valued at $2,818,640.75. This trade represents a 4.75% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 49,398 shares of company stock valued at $3,650,592. Insiders own 2.90% of the company’s stock.

Halozyme Therapeutics Company Profile

Halozyme Therapeutics, Inc is a biopharmaceutical company headquartered in San Diego, California, that specializes in the development and commercialization of novel drug-delivery technologies. Founded in 1998, Halozyme focuses on enabling subcutaneous administration of biologic therapies through its proprietary platforms. The company’s core mission is to improve patient access and convenience while maintaining efficacy and safety profiles comparable to or better than traditional routes of administration.

The company’s flagship technology, ENHANZE®, is based on recombinant human hyaluronidase PH20 (rHuPH20), an enzyme that transiently degrades hyaluronan in the extracellular matrix.