Profund Advisors LLC Reduces Position in Halozyme Therapeutics, Inc. (NASDAQ:HALO)

Profund Advisors LLC reduced its position in shares of Halozyme Therapeutics, Inc. (NASDAQ:HALO) by 28.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 29,431 shares of the biopharmaceutical company’s stock after selling 11,915 shares during the period. Profund Advisors LLC’s holdings in Halozyme Therapeutics were worth $1,541,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Rise Advisors LLC purchased a new stake in Halozyme Therapeutics during the 1st quarter worth about $25,000. Whittier Trust Co. purchased a new stake in Halozyme Therapeutics during the first quarter worth approximately $27,000. GAMMA Investing LLC boosted its holdings in Halozyme Therapeutics by 96.6% in the second quarter. GAMMA Investing LLC now owns 517 shares of the biopharmaceutical company’s stock valued at $27,000 after purchasing an additional 254 shares in the last quarter. International Assets Investment Management LLC purchased a new position in Halozyme Therapeutics in the second quarter valued at approximately $33,000. Finally, Principal Securities Inc. acquired a new stake in Halozyme Therapeutics during the fourth quarter worth approximately $34,000. Institutional investors and hedge funds own 97.79% of the company’s stock.

Insiders Place Their Bets

In other Halozyme Therapeutics news, SVP Michael J. Labarre sold 10,000 shares of the business’s stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $55.12, for a total transaction of $551,200.00. Following the sale, the senior vice president now directly owns 168,176 shares in the company, valued at approximately $9,269,861.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, SVP Michael J. Labarre sold 10,000 shares of the stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $55.12, for a total value of $551,200.00. Following the completion of the transaction, the senior vice president now owns 168,176 shares in the company, valued at approximately $9,269,861.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Nicole Labrosse sold 5,000 shares of the business’s stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $53.93, for a total transaction of $269,650.00. Following the sale, the chief financial officer now directly owns 15,480 shares in the company, valued at approximately $834,836.40. The disclosure for this sale can be found here. Over the last quarter, insiders sold 84,881 shares of company stock worth $4,888,184. 2.40% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have recently issued reports on HALO shares. Wells Fargo & Company upped their target price on shares of Halozyme Therapeutics from $48.00 to $58.00 and gave the company an “overweight” rating in a report on Friday, June 7th. The Goldman Sachs Group lifted their target price on Halozyme Therapeutics from $44.00 to $49.00 and gave the stock a “neutral” rating in a research report on Monday, July 22nd. Piper Sandler cut Halozyme Therapeutics from an “overweight” rating to a “neutral” rating and upped their target price for the company from $48.00 to $51.00 in a research report on Friday, June 7th. TD Cowen lifted their price target on Halozyme Therapeutics from $59.00 to $65.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Finally, Benchmark reissued a “buy” rating and issued a $60.00 price objective on shares of Halozyme Therapeutics in a report on Thursday, August 8th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $60.00.

Halozyme Therapeutics Stock Down 1.2 %

Shares of Halozyme Therapeutics stock opened at $58.53 on Tuesday. The company has a market cap of $7.45 billion, a P/E ratio of 24.19, a PEG ratio of 0.57 and a beta of 1.28. The firm has a fifty day moving average of $58.52 and a two-hundred day moving average of $49.37. The company has a debt-to-equity ratio of 5.19, a quick ratio of 6.21 and a current ratio of 7.41. Halozyme Therapeutics, Inc. has a one year low of $32.83 and a one year high of $65.53.

Halozyme Therapeutics (NASDAQ:HALO) last announced its quarterly earnings data on Tuesday, August 6th. The biopharmaceutical company reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.73 by $0.18. Halozyme Therapeutics had a net margin of 38.62% and a return on equity of 195.80%. The firm had revenue of $231.40 million during the quarter, compared to the consensus estimate of $204.94 million. During the same quarter last year, the firm earned $0.68 earnings per share. The firm’s revenue was up 4.7% compared to the same quarter last year. On average, analysts forecast that Halozyme Therapeutics, Inc. will post 3.7 earnings per share for the current year.

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.