Horizon Investments LLC Sells 32,553 Shares of Halozyme Therapeutics, Inc. $HALO

Horizon Investments LLC lowered its position in shares of Halozyme Therapeutics, Inc. (NASDAQ:HALO) by 91.8% in the 4th quarter, HoldingsChannel reports. The firm owned 2,908 shares of the biopharmaceutical company’s stock after selling 32,553 shares during the quarter. Horizon Investments LLC’s holdings in Halozyme Therapeutics were worth $196,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in HALO. DLD Asset Management LP lifted its stake in Halozyme Therapeutics by 20.0% during the third quarter. DLD Asset Management LP now owns 30,000,000 shares of the biopharmaceutical company’s stock worth $2,200,200,000 after purchasing an additional 5,000,000 shares during the last quarter. Federated Hermes Inc. lifted its stake in Halozyme Therapeutics by 294.1% during the third quarter. Federated Hermes Inc. now owns 1,450,704 shares of the biopharmaceutical company’s stock worth $106,395,000 after purchasing an additional 1,082,638 shares during the last quarter. Voloridge Investment Management LLC bought a new stake in Halozyme Therapeutics during the third quarter worth about $77,587,000. Qube Research & Technologies Ltd bought a new stake in Halozyme Therapeutics during the second quarter worth about $51,295,000. Finally, Arrowstreet Capital Limited Partnership lifted its stake in Halozyme Therapeutics by 29.5% during the third quarter. Arrowstreet Capital Limited Partnership now owns 3,290,665 shares of the biopharmaceutical company’s stock worth $241,337,000 after purchasing an additional 749,484 shares during the last quarter. Institutional investors own 97.79% of the company’s stock.

Insider Activity at Halozyme Therapeutics

In related news, CEO Helen Torley sold 20,000 shares of the business’s stock in a transaction dated Thursday, April 2nd. The stock was sold at an average price of $64.24, for a total transaction of $1,284,800.00. Following the transaction, the chief executive officer owned 767,780 shares in the company, valued at $49,322,187.20. The trade was a 2.54% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Cortney Caudill sold 20,000 shares of the business’s stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $67.80, for a total value of $1,356,000.00. Following the transaction, the chief operating officer owned 14,366 shares in the company, valued at approximately $974,014.80. This represents a 58.20% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 90,482 shares of company stock worth $6,073,942 in the last 90 days. Company insiders own 2.50% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. HC Wainwright lifted their price target on Halozyme Therapeutics from $90.00 to $95.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. Wall Street Zen downgraded Halozyme Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Saturday, February 21st. Weiss Ratings downgraded Halozyme Therapeutics from a “buy (b-)” rating to a “hold (c)” rating in a report on Tuesday, February 24th. Wells Fargo & Company lifted their price objective on Halozyme Therapeutics from $65.00 to $75.00 and gave the stock an “equal weight” rating in a report on Thursday, February 19th. Finally, Benchmark lifted their price objective on Halozyme Therapeutics from $75.00 to $90.00 and gave the stock a “buy” rating in a report on Thursday, February 19th. Six investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Halozyme Therapeutics currently has a consensus rating of “Hold” and an average price target of $79.11.

Halozyme Therapeutics Stock Down 1.6%

Shares of Halozyme Therapeutics stock opened at $64.12 on Friday. Halozyme Therapeutics, Inc. has a 52-week low of $47.50 and a 52-week high of $82.22. The stock has a market capitalization of $7.60 billion, a price-to-earnings ratio of 25.75, a P/E/G ratio of 0.26 and a beta of 0.89. The company has a debt-to-equity ratio of 43.89, a quick ratio of 3.66 and a current ratio of 4.66. The company’s 50 day moving average price is $65.86 and its 200-day moving average price is $68.59.

Halozyme Therapeutics (NASDAQ:HALO) last announced its quarterly earnings results on Tuesday, February 17th. The biopharmaceutical company reported ($0.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.92 by ($2.16). Halozyme Therapeutics had a net margin of 22.69% and a return on equity of 136.12%. The business had revenue of $451.77 million for the quarter, compared to analysts’ expectations of $446.13 million. During the same quarter in the prior year, the firm earned $1.26 EPS. The firm’s revenue for the quarter was up 51.6% on a year-over-year basis. Equities research analysts forecast that Halozyme Therapeutics, Inc. will post 7.68 EPS for the current year.

Halozyme Therapeutics 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.