Coastal Bridge Advisors LLC purchased a new position in shares of Halozyme Therapeutics, Inc. (NASDAQ:HALO – Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 14,500 shares of the biopharmaceutical company’s stock, valued at approximately $1,135,000.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Measured Wealth Private Client Group LLC lifted its holdings in shares of Halozyme Therapeutics by 51.5% during the 4th quarter. Measured Wealth Private Client Group LLC now owns 365 shares of the biopharmaceutical company’s stock worth $25,000 after acquiring an additional 124 shares during the period. Larson Financial Group LLC increased its stake in Halozyme Therapeutics by 3,118.2% in the third quarter. Larson Financial Group LLC now owns 354 shares of the biopharmaceutical company’s stock valued at $26,000 after acquiring an additional 343 shares during the period. MidFirst Bank bought a new stake in Halozyme Therapeutics in the second quarter valued at about $27,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in Halozyme Therapeutics in the second quarter worth about $28,000. Finally, Quantbot Technologies LP acquired a new position in Halozyme Therapeutics in the second quarter worth about $30,000. Institutional investors own 97.79% of the company’s stock.
Halozyme Therapeutics Trading Down 0.1%
Shares of HALO stock opened at $106.92 on Friday. Halozyme Therapeutics, Inc. has a 12-month low of $61.22 and a 12-month high of $109.66. The company has a market capitalization of $12.14 billion, a P/E ratio of 31.92, a P/E/G ratio of 0.43 and a beta of 0.85. The firm has a 50-day moving average price of $86.27 and a 200 day moving average price of $74.57. The company has a quick ratio of 2.31, a current ratio of 2.71 and a debt-to-equity ratio of 13.50.
Wall Street Analysts Forecast Growth
A number of equities research analysts have weighed in on HALO shares. Benchmark reaffirmed a “buy” rating on shares of Halozyme Therapeutics in a report on Tuesday, July 21st. HC Wainwright increased their target price on Halozyme Therapeutics from $95.00 to $115.00 and gave the stock a “buy” rating in a report on Friday, August 7th. Wells Fargo & Company raised their target price on Halozyme Therapeutics from $75.00 to $95.00 and gave the stock an “equal weight” rating in a research report on Friday, August 7th. TD Cowen boosted their price target on Halozyme Therapeutics from $96.00 to $105.00 and gave the company a “buy” rating in a research note on Friday, August 7th. Finally, Citigroup reaffirmed a “market outperform” rating on shares of Halozyme Therapeutics in a research note on Friday, August 7th. Nine equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Halozyme Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus target price of $91.20.
Check Out Our Latest Stock Report on Halozyme Therapeutics
Insider Transactions at Halozyme Therapeutics
In related news, CEO Helen Torley sold 20,000 shares of the firm’s stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $104.18, for a total transaction of $2,083,600.00. Following the completion of the sale, the chief executive officer directly owned 767,780 shares of the company’s stock, valued at $79,987,320.40. This trade represents a 2.54% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mahesh Krishnan sold 7,304 shares of Halozyme Therapeutics stock in a transaction on Monday, June 29th. The shares were sold at an average price of $75.00, for a total value of $547,800.00. Following the completion of the transaction, the director owned 14,462 shares of the company’s stock, valued at approximately $1,084,650. The trade was a 33.56% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 64,103 shares of company stock valued at $5,226,496 in the last three months. 2.50% of the stock is owned by corporate insiders.
Halozyme Therapeutics Profile
Halozyme Therapeutics, Inc is a biopharmaceutical company headquartered in San Diego, California, that specializes in the development and commercialization of novel drug-delivery technologies. Founded in 1998, Halozyme focuses on enabling subcutaneous administration of biologic therapies through its proprietary platforms. The company’s core mission is to improve patient access and convenience while maintaining efficacy and safety profiles comparable to or better than traditional routes of administration.
The company’s flagship technology, ENHANZE®, is based on recombinant human hyaluronidase PH20 (rHuPH20), an enzyme that transiently degrades hyaluronan in the extracellular matrix.
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