Russell Investments Group Ltd. cut its stake in Halozyme Therapeutics, Inc. (NASDAQ:HALO – Get Rating) by 10.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 242,159 shares of the biopharmaceutical company’s stock after selling 28,762 shares during the period. Russell Investments Group Ltd. owned 0.18% of Halozyme Therapeutics worth $13,779,000 at the end of the most recent reporting period.
Several other institutional investors have also recently added to or reduced their stakes in HALO. Bank of Montreal Can raised its holdings in Halozyme Therapeutics by 1,979.8% in the third quarter. Bank of Montreal Can now owns 431,396 shares of the biopharmaceutical company’s stock valued at $17,450,000 after acquiring an additional 410,654 shares in the last quarter. UBS Asset Management Americas Inc. raised its holdings in Halozyme Therapeutics by 194.0% in the third quarter. UBS Asset Management Americas Inc. now owns 519,951 shares of the biopharmaceutical company’s stock valued at $20,559,000 after acquiring an additional 343,087 shares in the last quarter. Point72 Asset Management L.P. acquired a new stake in Halozyme Therapeutics in the third quarter valued at $12,014,000. Braun Stacey Associates Inc. acquired a new stake in Halozyme Therapeutics in the third quarter valued at $10,166,000. Finally, Prudential Financial Inc. increased its stake in Halozyme Therapeutics by 269.6% during the second quarter. Prudential Financial Inc. now owns 315,229 shares of the biopharmaceutical company’s stock valued at $13,876,000 after purchasing an additional 229,934 shares during the last quarter. 96.32% of the stock is owned by institutional investors and hedge funds.
Halozyme Therapeutics Stock Performance
NASDAQ:HALO opened at $34.49 on Thursday. Halozyme Therapeutics, Inc. has a twelve month low of $29.85 and a twelve month high of $59.46. The company has a current ratio of 5.65, a quick ratio of 4.88 and a debt-to-equity ratio of 8.79. The company has a 50-day moving average of $36.49 and a 200-day moving average of $47.02. The firm has a market cap of $4.67 billion, a price-to-earnings ratio of 23.79, a price-to-earnings-growth ratio of 0.44 and a beta of 1.21.
Analyst Ratings Changes
Several research firms have weighed in on HALO. Wells Fargo & Company lowered their target price on shares of Halozyme Therapeutics from $65.00 to $55.00 and set an “overweight” rating for the company in a research note on Thursday, March 16th. JPMorgan Chase & Co. lowered their price target on shares of Halozyme Therapeutics from $54.00 to $52.00 and set an “overweight” rating for the company in a research report on Thursday, February 23rd. SVB Securities lowered shares of Halozyme Therapeutics from an “outperform” rating to a “market perform” rating and set a $42.00 price target for the company. in a research report on Thursday, March 16th. Morgan Stanley lowered their price target on shares of Halozyme Therapeutics from $65.00 to $64.00 and set an “overweight” rating for the company in a research report on Monday, March 6th. Finally, Berenberg Bank began coverage on shares of Halozyme Therapeutics in a research report on Monday, March 27th. They set a “buy” rating and a $58.00 price target for the company. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, Halozyme Therapeutics currently has a consensus rating of “Moderate Buy” and an average target price of $55.30.
Insider Activity
In other news, SVP Michael J. Labarre sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, February 15th. The shares were sold at an average price of $48.39, for a total transaction of $483,900.00. Following the completion of the transaction, the senior vice president now owns 143,477 shares in the company, valued at approximately $6,942,852.03. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Halozyme Therapeutics news, SVP Michael J. Labarre sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, February 15th. The shares were sold at an average price of $48.39, for a total value of $483,900.00. Following the completion of the transaction, the senior vice president now directly owns 143,477 shares in the company, valued at $6,942,852.03. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Nicole Labrosse sold 2,525 shares of the firm’s stock in a transaction dated Thursday, February 16th. The stock was sold at an average price of $49.26, for a total transaction of $124,381.50. Following the completion of the transaction, the chief financial officer now owns 9,066 shares of the company’s stock, valued at $446,591.16. The disclosure for this sale can be found here. In the last quarter, insiders sold 73,586 shares of company stock worth $3,367,746. Corporate insiders own 2.40% of the company’s stock.
Halozyme Therapeutics Company 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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