Halozyme Therapeutics, Inc. (NASDAQ:HALO) Shares Sold by Profund Advisors LLC

Profund Advisors LLC decreased its position in shares of Halozyme Therapeutics, Inc. (NASDAQ:HALO) by 28.8% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 29,431 shares of the biopharmaceutical company’s stock after selling 11,915 shares during the quarter. Profund Advisors LLC’s holdings in Halozyme Therapeutics were worth $1,541,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. TD Asset Management Inc lifted its stake in shares of Halozyme Therapeutics by 517.0% during the 4th quarter. TD Asset Management Inc now owns 1,983,916 shares of the biopharmaceutical company’s stock worth $73,326,000 after purchasing an additional 1,662,390 shares during the period. Norges Bank purchased a new position in Halozyme Therapeutics during the fourth quarter worth about $44,935,000. Epoch Investment Partners Inc. boosted its stake in Halozyme Therapeutics by 250.5% in the 4th quarter. Epoch Investment Partners Inc. now owns 1,163,033 shares of the biopharmaceutical company’s stock worth $42,986,000 after buying an additional 831,199 shares during the last quarter. Boston Trust Walden Corp purchased a new stake in Halozyme Therapeutics in the 2nd quarter valued at about $23,211,000. Finally, Swedbank AB acquired a new position in shares of Halozyme Therapeutics during the 1st quarter valued at about $13,927,000. Institutional investors and hedge funds own 97.79% of the company’s stock.

Halozyme Therapeutics Stock Performance

NASDAQ:HALO opened at $58.53 on Tuesday. Halozyme Therapeutics, Inc. has a twelve month low of $32.83 and a twelve month high of $65.53. The firm has a market capitalization of $7.45 billion, a price-to-earnings ratio of 24.19, a PEG ratio of 0.57 and a beta of 1.28. The company has a current ratio of 7.41, a quick ratio of 6.21 and a debt-to-equity ratio of 5.19. The firm’s fifty day simple moving average is $58.52 and its 200 day simple moving average is $49.37.

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

Insiders Place Their Bets

In other news, SVP Michael J. Labarre sold 10,000 shares of Halozyme Therapeutics stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $62.03, for a total transaction of $620,300.00. Following the sale, the senior vice president now owns 173,756 shares in the company, valued at $10,778,084.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Halozyme Therapeutics news, Director Matthew L. Posard sold 9,881 shares of the business’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $57.70, for a total value of $570,133.70. Following the transaction, the director now owns 69,874 shares in the company, valued at approximately $4,031,729.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Michael J. Labarre sold 10,000 shares of the company’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $62.03, for a total transaction of $620,300.00. Following the completion of the transaction, the senior vice president now directly owns 173,756 shares of the company’s stock, valued at $10,778,084.68. The disclosure for this sale can be found here. Insiders sold a total of 84,881 shares of company stock worth $4,888,184 in the last 90 days. 2.40% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on HALO. Morgan Stanley raised their target price on shares of Halozyme Therapeutics from $59.00 to $64.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 7th. HC Wainwright reiterated a “buy” rating and issued a $65.00 price target on shares of Halozyme Therapeutics in a report on Friday, September 13th. TD Cowen boosted their price objective on shares of Halozyme Therapeutics from $59.00 to $65.00 and gave the company a “buy” rating in a research note on Wednesday, August 7th. Piper Sandler lowered Halozyme Therapeutics from an “overweight” rating to a “neutral” rating and increased their target price for the stock from $48.00 to $51.00 in a research report on Friday, June 7th. Finally, JPMorgan Chase & Co. cut Halozyme Therapeutics from an “overweight” rating to a “neutral” rating and lifted their target price for the company from $52.00 to $57.00 in a report on Thursday, September 19th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $60.00.

About Halozyme Therapeutics

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.