Halozyme Therapeutics, Inc. (NASDAQ:HALO) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lowered its position in Halozyme Therapeutics, Inc. (NASDAQ:HALO) by 12.1% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 40,917 shares of the biopharmaceutical company’s stock after selling 5,610 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Halozyme Therapeutics were worth $2,532,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Artemis Investment Management LLP purchased a new position in Halozyme Therapeutics in the 1st quarter valued at $8,018,000. Park Place Capital Corp raised its holdings in shares of Halozyme Therapeutics by 20.1% during the 1st quarter. Park Place Capital Corp now owns 1,086 shares of the biopharmaceutical company’s stock worth $69,000 after acquiring an additional 182 shares during the period. Bessemer Group Inc. raised its holdings in shares of Halozyme Therapeutics by 62.9% during the 1st quarter. Bessemer Group Inc. now owns 536 shares of the biopharmaceutical company’s stock worth $34,000 after acquiring an additional 207 shares during the period. Spire Wealth Management raised its holdings in shares of Halozyme Therapeutics by 9,919.0% during the 1st quarter. Spire Wealth Management now owns 14,227 shares of the biopharmaceutical company’s stock worth $908,000 after acquiring an additional 14,085 shares during the period. Finally, Retirement Guys Formula LLC purchased a new position in shares of Halozyme Therapeutics during the 1st quarter worth $214,000. Hedge funds and other institutional investors own 97.79% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. JPMorgan Chase & Co. lifted their price target on Halozyme Therapeutics from $55.00 to $58.00 and gave the stock a “neutral” rating in a report on Monday, April 21st. HC Wainwright reiterated a “buy” rating and set a $72.00 price target on shares of Halozyme Therapeutics in a report on Thursday, May 29th. Leerink Partnrs lowered Halozyme Therapeutics from a “hold” rating to a “strong sell” rating in a report on Tuesday, May 13th. Benchmark lowered Halozyme Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 7th. Finally, Leerink Partners downgraded Halozyme Therapeutics from a “market perform” rating to an “underperform” rating and set a $47.00 price objective for the company. in a research report on Tuesday, May 13th. Two analysts have rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $61.90.

Insider Transactions at Halozyme Therapeutics

In related news, Director Jeffrey William Henderson sold 4,497 shares of the business’s stock in a transaction that occurred on Monday, April 28th. The stock was sold at an average price of $60.37, for a total transaction of $271,483.89. Following the completion of the sale, the director owned 28,611 shares in the company, valued at $1,727,246.07. The trade was a 13.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Helen Torley sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 24th. The stock was sold at an average price of $53.73, for a total value of $1,074,600.00. Following the sale, the chief executive officer owned 733,719 shares of the company’s stock, valued at approximately $39,422,721.87. The trade was a 2.65% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 44,497 shares of company stock valued at $2,405,284. Corporate insiders own 2.90% of the company’s stock.

Halozyme Therapeutics Stock Performance

NASDAQ HALO opened at $54.05 on Monday. The company has a market cap of $6.66 billion, a P/E ratio of 14.38, a P/E/G ratio of 0.36 and a beta of 1.15. The company has a debt-to-equity ratio of 3.13, a current ratio of 8.39 and a quick ratio of 7.30. The stock has a 50-day moving average of $55.49 and a two-hundred day moving average of $56.70. Halozyme Therapeutics, Inc. has a 1-year low of $42.01 and a 1-year high of $70.51.

Halozyme Therapeutics (NASDAQ:HALO) last announced its quarterly earnings data on Tuesday, May 6th. The biopharmaceutical company reported $1.11 EPS for the quarter, topping analysts’ consensus estimates of $0.98 by $0.13. Halozyme Therapeutics had a return on equity of 136.91% and a net margin of 44.76%. The business had revenue of $264.86 million during the quarter, compared to the consensus estimate of $231.21 million. During the same period in the previous year, the company posted $0.79 earnings per share. The business’s revenue for the quarter was up 35.2% on a year-over-year basis. As a group, analysts anticipate that Halozyme Therapeutics, Inc. will post 4.73 EPS for the current year.

Halozyme Therapeutics Company Profile

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.