Halozyme Therapeutics, Inc. (NASDAQ:HALO) Short Interest Up 8.0% in August

Halozyme Therapeutics, Inc. (NASDAQ:HALO) saw a large increase in short interest in the month of August. As of August 15th, there was short interest totalling 9,670,000 shares, an increase of 8.0% from the July 31st total of 8,950,000 shares. Approximately 7.7% of the company’s stock are sold short. Based on an average trading volume of 1,350,000 shares, the short-interest ratio is currently 7.2 days.

Halozyme Therapeutics Stock Down 4.1 %

HALO stock opened at $61.22 on Wednesday. The company has a market cap of $7.79 billion, a price-to-earnings ratio of 25.30, a P/E/G ratio of 0.62 and a beta of 1.27. The company has a debt-to-equity ratio of 5.19, a quick ratio of 6.21 and a current ratio of 7.41. The business’s 50-day moving average is $56.20 and its two-hundred day moving average is $47.32. Halozyme Therapeutics has a fifty-two week low of $32.83 and a fifty-two week high of $65.53.

Halozyme Therapeutics (NASDAQ:HALO) last issued its quarterly earnings data on Tuesday, August 6th. The biopharmaceutical company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.18. Halozyme Therapeutics had a net margin of 38.62% and a return on equity of 195.80%. The firm had revenue of $231.40 million for the quarter, compared to analysts’ expectations of $204.94 million. During the same quarter in the prior year, the business earned $0.68 EPS. The business’s quarterly revenue was up 4.7% on a year-over-year basis. As a group, analysts forecast that Halozyme Therapeutics will post 3.7 earnings per share for the current year.

Insider Activity at Halozyme Therapeutics

In other Halozyme Therapeutics news, Director Matthew L. Posard sold 10,000 shares of the company’s stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $50.01, for a total value of $500,100.00. Following the sale, the director now owns 109,755 shares in the company, valued at $5,488,847.55. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Halozyme Therapeutics news, Director Matthew L. Posard sold 10,000 shares of the business’s stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $50.01, for a total value of $500,100.00. Following the sale, the director now directly owns 109,755 shares of the company’s stock, valued at $5,488,847.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Matthew L. Posard sold 9,881 shares of the stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $57.70, for a total value of $570,133.70. Following the completion of the sale, the director now directly owns 69,874 shares in the company, valued at $4,031,729.80. The disclosure for this sale can be found here. Insiders sold a total of 64,881 shares of company stock valued at $3,585,084 in the last three months. Company insiders own 2.40% of the company’s stock.

Hedge Funds Weigh In On Halozyme Therapeutics

A number of institutional investors have recently bought and sold shares of HALO. International Assets Investment Management LLC purchased a new stake in Halozyme Therapeutics in the fourth quarter worth about $1,030,000. Truist Financial Corp increased its holdings in Halozyme Therapeutics by 0.6% in the 4th quarter. Truist Financial Corp now owns 102,622 shares of the biopharmaceutical company’s stock worth $3,793,000 after acquiring an additional 563 shares in the last quarter. Retirement Systems of Alabama raised its stake in Halozyme Therapeutics by 0.4% during the 4th quarter. Retirement Systems of Alabama now owns 165,445 shares of the biopharmaceutical company’s stock worth $6,115,000 after acquiring an additional 728 shares during the period. Kestra Private Wealth Services LLC purchased a new position in Halozyme Therapeutics during the fourth quarter valued at approximately $414,000. Finally, First Trust Direct Indexing L.P. bought a new position in shares of Halozyme Therapeutics in the fourth quarter worth approximately $209,000. 97.79% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. JMP Securities dropped their target price on shares of Halozyme Therapeutics from $72.00 to $71.00 and set a “market outperform” rating on the stock in a research note on Wednesday, May 8th. JPMorgan Chase & Co. lowered their price objective on Halozyme Therapeutics from $53.00 to $52.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 6th. HC Wainwright reissued a “buy” rating and issued a $65.00 target price on shares of Halozyme Therapeutics in a report on Thursday, August 8th. Morgan Stanley boosted their price target on Halozyme Therapeutics from $59.00 to $64.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 7th. Finally, The Goldman Sachs Group increased their price objective on Halozyme Therapeutics from $44.00 to $49.00 and gave the company a “neutral” rating in a research report on Monday, July 22nd. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $59.44.

Halozyme Therapeutics Company Profile

Halozyme Therapeutics, Inc, a biopharma technology platform company, researches, develops, and commercializes proprietary enzymes and devices in the United States, Switzerland, Belgium, Japan, and internationally. The company's products are based on the patented recombinant human hyaluronidase enzyme (rHuPH20) that enables delivery of injectable biologics, such as monoclonal antibodies and other therapeutic molecules, as well as small molecules and fluids.