PNC Financial Services Group Inc. Has $420,000 Stake in Halozyme Therapeutics, Inc. (NASDAQ:HALO)

PNC Financial Services Group Inc. cut its holdings in shares of Halozyme Therapeutics, Inc. (NASDAQ:HALO) by 4.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,364 shares of the biopharmaceutical company’s stock after selling 499 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Halozyme Therapeutics were worth $420,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Principal Securities Inc. acquired a new stake in Halozyme Therapeutics during the fourth quarter worth approximately $34,000. First Horizon Advisors Inc. grew its holdings in shares of Halozyme Therapeutics by 24.5% during the 4th quarter. First Horizon Advisors Inc. now owns 1,491 shares of the biopharmaceutical company’s stock worth $55,000 after purchasing an additional 293 shares in the last quarter. Parkside Financial Bank & Trust bought a new position in shares of Halozyme Therapeutics in the fourth quarter worth $64,000. Headlands Technologies LLC raised its stake in Halozyme Therapeutics by 1,068.2% in the fourth quarter. Headlands Technologies LLC now owns 1,764 shares of the biopharmaceutical company’s stock valued at $65,000 after purchasing an additional 1,613 shares in the last quarter. Finally, Quadrant Capital Group LLC lifted its position in Halozyme Therapeutics by 22.4% during the fourth quarter. Quadrant Capital Group LLC now owns 3,414 shares of the biopharmaceutical company’s stock worth $126,000 after purchasing an additional 624 shares during the period. 97.79% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Piper Sandler cut shares of Halozyme Therapeutics from an “overweight” rating to a “neutral” rating and boosted their target price for the company from $48.00 to $51.00 in a research report on Friday, June 7th. Wells Fargo & Company boosted their price objective on shares of Halozyme Therapeutics from $48.00 to $58.00 and gave the company an “overweight” rating in a research report on Friday, June 7th. JMP Securities decreased their price target on Halozyme Therapeutics from $72.00 to $71.00 and set a “market outperform” rating on the stock in a research note on Wednesday, May 8th. Benchmark boosted their price target on Halozyme Therapeutics from $50.00 to $60.00 and gave the stock a “buy” rating in a report on Tuesday. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $65.00 price objective on shares of Halozyme Therapeutics in a research note on Monday, June 24th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, Halozyme Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus target price of $57.25.

Halozyme Therapeutics Stock Performance

Shares of HALO stock opened at $52.36 on Friday. The business’s 50-day moving average price is $45.31 and its 200-day moving average price is $40.46. Halozyme Therapeutics, Inc. has a 12 month low of $32.83 and a 12 month high of $53.00. The company has a current ratio of 6.64, a quick ratio of 5.36 and a debt-to-equity ratio of 8.44. The firm has a market capitalization of $6.66 billion, a price-to-earnings ratio of 21.64, a PEG ratio of 0.53 and a beta of 1.28.

Halozyme Therapeutics (NASDAQ:HALO) last posted its earnings results on Tuesday, May 7th. The biopharmaceutical company reported $0.71 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.07. The firm had revenue of $195.88 million for the quarter, compared to analyst estimates of $201.72 million. Halozyme Therapeutics had a net margin of 36.94% and a return on equity of 225.71%. Equities research analysts forecast that Halozyme Therapeutics, Inc. will post 3.66 EPS for the current year.

Insider Buying and Selling

In other Halozyme Therapeutics news, SVP Michael J. Labarre sold 10,000 shares of the company’s stock in a transaction dated Wednesday, April 17th. The stock was sold at an average price of $38.49, for a total value of $384,900.00. Following the sale, the senior vice president now owns 168,176 shares in the company, valued at approximately $6,473,094.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders sold a total of 40,000 shares of company stock valued at $1,858,100 in the last three months. Insiders own 2.40% of the company’s stock.

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.