Third Security LLC Reduces Holdings in Halozyme Therapeutics, Inc. (NASDAQ:HALO)

Third Security LLC reduced its stake in Halozyme Therapeutics, Inc. (NASDAQ:HALO) by 35.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,129,551 shares of the biopharmaceutical company’s stock after selling 632,521 shares during the period. Halozyme Therapeutics accounts for 6.4% of Third Security LLC’s holdings, making the stock its 3rd biggest holding. Third Security LLC owned about 0.79% of Halozyme Therapeutics worth $47,091,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently modified their holdings of HALO. Artisan Partners Limited Partnership boosted its stake in shares of Halozyme Therapeutics by 1.8% during the first quarter. Artisan Partners Limited Partnership now owns 10,468,159 shares of the biopharmaceutical company’s stock valued at $436,418,000 after purchasing an additional 184,023 shares in the last quarter. FMR LLC boosted its stake in shares of Halozyme Therapeutics by 5.0% during the first quarter. FMR LLC now owns 2,685,575 shares of the biopharmaceutical company’s stock valued at $43,238,000 after purchasing an additional 127,379 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Halozyme Therapeutics by 6.6% during the first quarter. Geode Capital Management LLC now owns 2,267,258 shares of the biopharmaceutical company’s stock valued at $94,521,000 after purchasing an additional 139,458 shares in the last quarter. New York State Common Retirement Fund boosted its stake in shares of Halozyme Therapeutics by 5.1% during the first quarter. New York State Common Retirement Fund now owns 1,678,138 shares of the biopharmaceutical company’s stock valued at $69,962,000 after purchasing an additional 80,756 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its stake in shares of Halozyme Therapeutics by 21.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,513,095 shares of the biopharmaceutical company’s stock valued at $63,081,000 after purchasing an additional 266,361 shares in the last quarter. Institutional investors and hedge funds own 91.40% of the company’s stock.

In related news, SVP Michael J. Labarre sold 40,315 shares of the firm’s stock in a transaction on Thursday, July 1st. The shares were sold at an average price of $45.70, for a total transaction of $1,842,395.50. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Helen Torley sold 50,000 shares of Halozyme Therapeutics stock in a transaction dated Monday, June 7th. The shares were sold at an average price of $39.66, for a total transaction of $1,983,000.00. Following the completion of the sale, the chief executive officer now owns 587,160 shares in the company, valued at approximately $23,286,765.60. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 190,315 shares of company stock worth $8,274,896. 2.60% of the stock is owned by company insiders.

Several brokerages have weighed in on HALO. Zacks Investment Research downgraded shares of Halozyme Therapeutics from a “buy” rating to a “hold” rating and set a $45.00 target price for the company. in a research note on Friday, July 16th. Evercore ISI started coverage on shares of Halozyme Therapeutics in a research note on Monday, June 14th. They issued an “outperform” rating for the company. SVB Leerink started coverage on shares of Halozyme Therapeutics in a report on Monday, May 17th. They issued an “outperform” rating and a $56.00 price target for the company. TheStreet cut shares of Halozyme Therapeutics from a “b” rating to a “c+” rating in a report on Friday, May 14th. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $48.00 price target (down previously from $50.00) on shares of Halozyme Therapeutics in a report on Monday, May 17th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $51.67.

Shares of Halozyme Therapeutics stock traded up $0.11 during trading on Thursday, hitting $42.20. 2,095 shares of the company’s stock were exchanged, compared to its average volume of 682,699. The company has a market cap of $6.01 billion, a PE ratio of 32.87 and a beta of 1.47. The company has a quick ratio of 8.22, a current ratio of 8.77 and a debt-to-equity ratio of 11.61. The firm’s 50-day simple moving average is $42.93. Halozyme Therapeutics, Inc. has a 52-week low of $25.17 and a 52-week high of $56.40.

Halozyme Therapeutics (NASDAQ:HALO) last released its quarterly earnings results on Monday, May 10th. The biopharmaceutical company reported $0.37 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.32 by $0.05. The company had revenue of $89.02 million for the quarter, compared to analyst estimates of $84.88 million. Halozyme Therapeutics had a net margin of 49.23% and a return on equity of 174.48%. The firm’s revenue was up 251.1% on a year-over-year basis. During the same quarter last year, the business earned ($0.04) earnings per share. Sell-side analysts forecast that Halozyme Therapeutics, Inc. will post 1.78 EPS for the current year.

Halozyme Therapeutics Profile

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

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Institutional Ownership by Quarter for Halozyme Therapeutics (NASDAQ:HALO)

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