Halozyme Therapeutics, Inc. (NASDAQ:HALO) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. reduced its stake in shares of Halozyme Therapeutics, Inc. (NASDAQ:HALO) by 25.7% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 448,087 shares of the biopharmaceutical company’s stock after selling 154,971 shares during the period. Principal Financial Group Inc.’s holdings in Halozyme Therapeutics were worth $25,649,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of HALO. Raymond James & Associates grew its holdings in Halozyme Therapeutics by 51.8% during the second quarter. Raymond James & Associates now owns 146,261 shares of the biopharmaceutical company’s stock worth $7,658,000 after acquiring an additional 49,923 shares during the period. Raymond James Trust N.A. purchased a new position in shares of Halozyme Therapeutics during the 2nd quarter valued at approximately $246,000. Nations Financial Group Inc. IA ADV increased its holdings in shares of Halozyme Therapeutics by 36.9% during the 2nd quarter. Nations Financial Group Inc. IA ADV now owns 12,919 shares of the biopharmaceutical company’s stock valued at $676,000 after purchasing an additional 3,480 shares in the last quarter. International Assets Investment Management LLC acquired a new position in shares of Halozyme Therapeutics in the 2nd quarter valued at $33,000. Finally, Commonwealth Equity Services LLC boosted its holdings in Halozyme Therapeutics by 34.3% during the second quarter. Commonwealth Equity Services LLC now owns 20,382 shares of the biopharmaceutical company’s stock worth $1,067,000 after buying an additional 5,210 shares in the last quarter. Hedge funds and other institutional investors own 97.79% of the company’s stock.

Insider Buying and Selling

In related news, SVP Michael J. Labarre sold 10,000 shares of the stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $53.26, for a total value of $532,600.00. Following the completion of the sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.70% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on HALO shares. Wells Fargo & Company downgraded shares of Halozyme Therapeutics from an “overweight” rating to an “equal weight” rating and upped their price objective for the stock from $58.00 to $62.00 in a research report on Monday, October 7th. JMP Securities increased their price target on Halozyme Therapeutics from $72.00 to $73.00 and gave the stock a “market outperform” rating in a research report on Friday, November 1st. Cowen reissued a “buy” rating on shares of Halozyme Therapeutics in a report on Friday, October 18th. Piper Sandler upped their target price on Halozyme Therapeutics from $51.00 to $52.00 and gave the stock a “neutral” rating in a research note on Monday, November 4th. Finally, JPMorgan Chase & Co. cut shares of Halozyme Therapeutics from an “overweight” rating to a “neutral” rating and lifted their price target for the company from $52.00 to $57.00 in a research note on Thursday, September 19th. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $61.11.

Halozyme Therapeutics Trading Up 0.8 %

Shares of HALO opened at $47.54 on Wednesday. Halozyme Therapeutics, Inc. has a 52-week low of $33.15 and a 52-week high of $65.53. The stock has a market cap of $6.05 billion, a PE ratio of 15.74, a price-to-earnings-growth ratio of 0.43 and a beta of 1.23. The firm’s fifty day moving average is $50.77 and its two-hundred day moving average is $54.15. The company has a quick ratio of 9.15, a current ratio of 10.36 and a debt-to-equity ratio of 3.32.

Halozyme Therapeutics 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.