HighTower Advisors LLC Boosts Stock Holdings in Halozyme Therapeutics, Inc. (NASDAQ:HALO)

HighTower Advisors LLC lifted its holdings in shares of Halozyme Therapeutics, Inc. (NASDAQ:HALO) by 20.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 36,174 shares of the biopharmaceutical company’s stock after buying an additional 6,075 shares during the quarter. HighTower Advisors LLC’s holdings in Halozyme Therapeutics were worth $2,080,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Erste Asset Management GmbH purchased a new stake in Halozyme Therapeutics during the 3rd quarter worth about $2,723,000. Edgestream Partners L.P. lifted its holdings in shares of Halozyme Therapeutics by 116.9% in the third quarter. Edgestream Partners L.P. now owns 86,001 shares of the biopharmaceutical company’s stock worth $4,923,000 after buying an additional 46,352 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec purchased a new stake in shares of Halozyme Therapeutics in the third quarter worth about $5,381,000. Hantz Financial Services Inc. bought a new position in shares of Halozyme Therapeutics in the third quarter valued at approximately $9,260,000. Finally, RPg Family Wealth Advisory LLC purchased a new position in Halozyme Therapeutics during the third quarter valued at approximately $1,886,000. 97.79% of the stock is owned by institutional investors.

Halozyme Therapeutics Stock Performance

Shares of NASDAQ HALO opened at $48.00 on Friday. The stock has a market cap of $6.11 billion, a price-to-earnings ratio of 15.89, a P/E/G ratio of 0.43 and a beta of 1.23. The stock’s 50-day moving average is $51.43 and its 200 day moving average is $54.00. The company has a current ratio of 10.36, a quick ratio of 9.15 and a debt-to-equity ratio of 3.32. Halozyme Therapeutics, Inc. has a 1-year low of $33.15 and a 1-year high of $65.53.

Insiders Place Their Bets

In related news, SVP Michael J. Labarre sold 10,000 shares of the stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $53.26, for a total transaction of $532,600.00. Following the transaction, the senior vice president now owns 173,756 shares of the company’s stock, valued at approximately $9,254,244.56. This trade represents a 5.44 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Over the last ninety days, insiders have sold 40,000 shares of company stock valued at $2,242,100. 2.40% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

HALO has been the topic of several recent analyst reports. Wells Fargo & Company cut shares of Halozyme Therapeutics from an “overweight” rating to an “equal weight” rating and increased their target price for the stock from $58.00 to $62.00 in a research note on Monday, October 7th. HC Wainwright reaffirmed a “buy” rating and issued a $68.00 price target on shares of Halozyme Therapeutics in a report on Wednesday, November 20th. Cowen reissued a “buy” rating on shares of Halozyme Therapeutics in a research note on Friday, October 18th. JPMorgan Chase & Co. lowered Halozyme Therapeutics from an “overweight” rating to a “neutral” rating and upped their target price for the stock from $52.00 to $57.00 in a research note on Thursday, September 19th. Finally, Piper Sandler raised their price target on Halozyme Therapeutics from $51.00 to $52.00 and gave the company a “neutral” rating in a report on Monday, November 4th. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $61.11.

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.