Rhumbline Advisers Trims Position in Halozyme Therapeutics, Inc. $HALO

Rhumbline Advisers trimmed its holdings in Halozyme Therapeutics, Inc. (NASDAQ:HALO) by 4.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 364,162 shares of the biopharmaceutical company’s stock after selling 17,487 shares during the quarter. Rhumbline Advisers owned approximately 0.31% of Halozyme Therapeutics worth $26,708,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Root Financial Partners LLC bought a new stake in Halozyme Therapeutics in the 3rd quarter worth approximately $25,000. Richardson Financial Services Inc. raised its stake in shares of Halozyme Therapeutics by 87.6% in the third quarter. Richardson Financial Services Inc. now owns 424 shares of the biopharmaceutical company’s stock valued at $31,000 after acquiring an additional 198 shares during the period. Newbridge Financial Services Group Inc. purchased a new position in shares of Halozyme Therapeutics during the 2nd quarter worth about $32,000. Employees Retirement System of Texas bought a new position in shares of Halozyme Therapeutics during the second quarter valued at approximately $34,000. Finally, Penserra Capital Management LLC bought a new position in Halozyme Therapeutics in the 3rd quarter valued at $52,000. Institutional investors own 97.79% of the company’s stock.

Halozyme Therapeutics Trading Up 3.3%

HALO opened at $79.44 on Monday. The company has a debt-to-equity ratio of 1.59, a current ratio of 1.59 and a quick ratio of 1.37. The company’s 50 day simple moving average is $70.85 and its two-hundred day simple moving average is $69.96. The firm has a market capitalization of $9.34 billion, a price-to-earnings ratio of 16.72, a price-to-earnings-growth ratio of 0.33 and a beta of 0.97. Halozyme Therapeutics, Inc. has a 1-year low of $47.50 and a 1-year high of $82.22.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on HALO shares. TD Cowen raised their target price on shares of Halozyme Therapeutics from $79.00 to $90.00 and gave the stock a “buy” rating in a research report on Thursday, January 8th. Citizens Jmp lifted their price target on shares of Halozyme Therapeutics from $91.00 to $92.00 and gave the stock a “market outperform” rating in a report on Tuesday, November 4th. Morgan Stanley cut their price target on shares of Halozyme Therapeutics from $80.00 to $79.00 and set an “overweight” rating on the stock in a research note on Monday, October 20th. HC Wainwright restated a “buy” rating on shares of Halozyme Therapeutics in a research note on Thursday, January 29th. Finally, Citigroup reaffirmed a “market outperform” rating on shares of Halozyme Therapeutics in a report on Tuesday, November 4th. Eight investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Halozyme Therapeutics presently has a consensus rating of “Moderate Buy” and an average target price of $78.80.

Insider Activity at Halozyme Therapeutics

In other Halozyme Therapeutics news, CEO Helen Torley sold 20,000 shares of Halozyme Therapeutics stock in a transaction dated Tuesday, February 3rd. The stock was sold at an average price of $76.12, for a total transaction of $1,522,400.00. Following the completion of the sale, the chief executive officer directly owned 708,719 shares of the company’s stock, valued at $53,947,690.28. The trade was a 2.74% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Bernadette Connaughton sold 2,000 shares of the company’s stock in a transaction on Monday, January 5th. The shares were sold at an average price of $70.25, for a total transaction of $140,500.00. Following the completion of the transaction, the director owned 40,123 shares of the company’s stock, valued at approximately $2,818,640.75. The trade was a 4.75% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 49,398 shares of company stock worth $3,650,592. Company insiders own 2.90% of the company’s stock.

About Halozyme Therapeutics

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.