Global Retirement Partners LLC purchased a new stake in Halozyme Therapeutics, Inc. (NASDAQ:HALO – Free Report) in the second quarter, HoldingsChannel.com reports. The institutional investor purchased 6,078 shares of the biopharmaceutical company’s stock, valued at approximately $476,000.
Other institutional investors have also recently made changes to their positions in the company. Bank of New York Mellon Corp bought a new stake in shares of Halozyme Therapeutics during the 2nd quarter worth approximately $62,792,000. State of Wyoming acquired a new position in Halozyme Therapeutics during the second quarter worth $513,000. GSA Capital Partners LLP bought a new stake in Halozyme Therapeutics during the second quarter worth $539,000. Wedge Capital Management L L P NC acquired a new stake in Halozyme Therapeutics in the second quarter valued at $31,607,000. Finally, Tema ETFs LLC grew its position in shares of Halozyme Therapeutics by 0.6% in the 2nd quarter. Tema ETFs LLC now owns 32,598 shares of the biopharmaceutical company’s stock valued at $2,551,000 after acquiring an additional 210 shares during the period. Institutional investors and hedge funds own 97.79% of the company’s stock.
Halozyme Therapeutics Trading Up 2.6%
Shares of NASDAQ:HALO opened at $107.62 on Thursday. Halozyme Therapeutics, Inc. has a 12-month low of $61.22 and a 12-month high of $107.96. The business has a 50 day moving average of $81.71 and a 200-day moving average of $73.26. The company has a quick ratio of 2.31, a current ratio of 2.71 and a debt-to-equity ratio of 13.50. The stock has a market cap of $12.21 billion, a PE ratio of 32.13, a P/E/G ratio of 0.42 and a beta of 0.85.
Wall Street Analyst Weigh In
A number of equities research analysts have recently issued reports on the stock. Benchmark reaffirmed a “buy” rating on shares of Halozyme Therapeutics in a report on Tuesday, July 21st. Citizens Jmp lifted their price target on Halozyme Therapeutics from $92.00 to $93.00 and gave the stock a “market outperform” rating in a report on Friday, August 7th. Leerink Partners raised Halozyme Therapeutics from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $83.00 to $110.00 in a research report on Friday, August 7th. Wells Fargo & Company upped their price objective on Halozyme Therapeutics from $75.00 to $95.00 and gave the company an “equal weight” rating in a research note on Friday, August 7th. Finally, Wall Street Zen upgraded Halozyme Therapeutics from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 8th. Nine 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 data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $91.20.
View Our Latest Stock Report on HALO
Insiders Place Their Bets
In other news, Director Mahesh Krishnan sold 7,304 shares of Halozyme Therapeutics stock in a transaction on Monday, June 29th. The stock was sold at an average price of $75.00, for a total transaction of $547,800.00. Following the completion of the sale, the director owned 14,462 shares of the company’s stock, valued at approximately $1,084,650. This trade represents a 33.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Bernadette Connaughton sold 1,626 shares of the firm’s stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $102.80, for a total transaction of $167,152.80. Following the transaction, the director directly owned 40,418 shares in the company, valued at approximately $4,154,970.40. This represents a 3.87% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 64,103 shares of company stock worth $5,226,496 in the last 90 days. Company insiders own 2.50% of the company’s stock.
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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