PNC Financial Services Group Inc. Reduces Stake in Halozyme Therapeutics, Inc. (NASDAQ:HALO)

PNC Financial Services Group Inc. lowered its holdings in Halozyme Therapeutics, Inc. (NASDAQ:HALO) by 3.5% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,708 shares of the biopharmaceutical company’s stock after selling 353 shares during the period. PNC Financial Services Group Inc.’s holdings in Halozyme Therapeutics were worth $464,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of HALO. GSA Capital Partners LLP purchased a new stake in shares of Halozyme Therapeutics in the 3rd quarter valued at about $217,000. CIBC Asset Management Inc purchased a new stake in shares of Halozyme Therapeutics in the 3rd quarter valued at about $211,000. Natixis Advisors LLC raised its holdings in shares of Halozyme Therapeutics by 86.7% in the 3rd quarter. Natixis Advisors LLC now owns 121,560 shares of the biopharmaceutical company’s stock valued at $6,958,000 after acquiring an additional 56,461 shares in the last quarter. Quest Partners LLC raised its holdings in shares of Halozyme Therapeutics by 1,386.0% in the 3rd quarter. Quest Partners LLC now owns 9,793 shares of the biopharmaceutical company’s stock valued at $561,000 after acquiring an additional 9,134 shares in the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of Halozyme Therapeutics in the 3rd quarter valued at about $1,899,000. Hedge funds and other institutional investors own 97.79% of the company’s stock.

Wall Street Analysts Forecast Growth

HALO has been the topic of several recent analyst reports. Benchmark reaffirmed a “buy” rating and issued a $75.00 price target on shares of Halozyme Therapeutics in a report on Thursday, February 20th. HC Wainwright reiterated a “buy” rating on shares of Halozyme Therapeutics in a research report on Thursday, March 6th. Wells Fargo & Company reduced their price objective on Halozyme Therapeutics from $62.00 to $57.00 and set an “equal weight” rating on the stock in a research report on Monday, January 13th. Finally, Piper Sandler increased their price objective on Halozyme Therapeutics from $52.00 to $53.00 and gave the company a “neutral” rating in a research report on Friday, January 10th. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $62.78.

Halozyme Therapeutics Price Performance

HALO opened at $64.30 on Thursday. The stock’s 50 day simple moving average is $57.53 and its 200 day simple moving average is $54.61. The company has a debt-to-equity ratio of 4.14, a current ratio of 7.80 and a quick ratio of 9.15. Halozyme Therapeutics, Inc. has a 1 year low of $37.73 and a 1 year high of $65.53. The firm has a market cap of $7.92 billion, a price-to-earnings ratio of 18.75, a PEG ratio of 0.42 and a beta of 1.32.

Halozyme Therapeutics (NASDAQ:HALO) last posted its quarterly earnings results on Tuesday, February 18th. The biopharmaceutical company reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.17 by $0.02. Halozyme Therapeutics had a return on equity of 157.78% and a net margin of 43.74%. The business had revenue of $298.01 million for the quarter, compared to analyst estimates of $285.74 million. As a group, analysts predict that Halozyme Therapeutics, Inc. will post 4.73 earnings per share for the current year.

Insiders Place Their Bets

In other Halozyme Therapeutics news, Director Jeffrey William Henderson sold 10,000 shares of the stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $50.01, for a total value of $500,100.00. Following the completion of the sale, the director now owns 43,611 shares in the company, valued at approximately $2,180,986.11. This trade represents a 18.65 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Michael J. Labarre sold 1,697 shares of the stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $58.28, for a total value of $98,901.16. Following the completion of the sale, the senior vice president now owns 173,756 shares of the company’s stock, valued at approximately $10,126,499.68. This trade represents a 0.97 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 31,697 shares of company stock worth $1,754,451. 2.40% of the stock is currently owned by company insiders.

About Halozyme Therapeutics

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.