Allspring Global Investments Holdings LLC Has $2.11 Million Stock Holdings in Halozyme Therapeutics, Inc. $HALO

Allspring Global Investments Holdings LLC lifted its position in shares of Halozyme Therapeutics, Inc. (NASDAQ:HALO) by 247.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 28,117 shares of the biopharmaceutical company’s stock after purchasing an additional 20,033 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Halozyme Therapeutics were worth $2,107,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the company. DLD Asset Management LP acquired a new position in shares of Halozyme Therapeutics in the 2nd quarter valued at $650,250,000. Arrowstreet Capital Limited Partnership raised its position in Halozyme Therapeutics by 127.8% in the second quarter. Arrowstreet Capital Limited Partnership now owns 2,541,181 shares of the biopharmaceutical company’s stock worth $132,192,000 after purchasing an additional 1,425,674 shares in the last quarter. Qube Research & Technologies Ltd bought a new position in Halozyme Therapeutics during the second quarter worth about $51,295,000. Los Angeles Capital Management LLC boosted its holdings in Halozyme Therapeutics by 951.8% during the second quarter. Los Angeles Capital Management LLC now owns 973,670 shares of the biopharmaceutical company’s stock valued at $50,650,000 after purchasing an additional 881,094 shares in the last quarter. Finally, Norges Bank acquired a new stake in Halozyme Therapeutics during the second quarter valued at approximately $45,027,000. 97.79% of the stock is currently owned by institutional investors.

Insider Transactions at Halozyme Therapeutics

In other news, Director Bernadette Connaughton sold 2,000 shares of the company’s stock in a transaction on Monday, January 5th. The stock was sold at an average price of $70.25, for a total transaction of $140,500.00. Following the transaction, the director owned 40,123 shares of the company’s stock, valued at $2,818,640.75. This represents a 4.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Helen Torley sold 16,569 shares of Halozyme Therapeutics stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $68.92, for a total value of $1,141,935.48. Following the completion of the sale, the chief executive officer owned 708,719 shares of the company’s stock, valued at approximately $48,844,913.48. The trade was a 2.28% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 45,661 shares of company stock worth $3,139,257 over the last 90 days. 2.40% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms recently commented on HALO. Zacks Research downgraded Halozyme Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 6th. Morgan Stanley cut their price objective on Halozyme Therapeutics from $80.00 to $79.00 and set an “overweight” rating for the company in a report on Monday, October 20th. Weiss Ratings upgraded shares of Halozyme Therapeutics from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, December 29th. Leerink Partners upgraded shares of Halozyme Therapeutics from an “underperform” rating to a “market perform” rating and set a $70.00 target price for the company in a research report on Tuesday, October 14th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Halozyme Therapeutics from $63.00 to $65.00 and gave the stock a “neutral” rating in a research note on Monday, October 27th. Eight research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Halozyme Therapeutics currently has an average rating of “Hold” and an average target price of $76.45.

Halozyme Therapeutics Price Performance

Shares of HALO stock opened at $72.13 on Friday. Halozyme Therapeutics, Inc. has a 1 year low of $47.50 and a 1 year high of $79.50. The company has a current ratio of 1.59, a quick ratio of 1.37 and a debt-to-equity ratio of 1.59. The firm’s 50 day moving average is $68.13 and its 200-day moving average is $66.46. The firm has a market capitalization of $8.48 billion, a price-to-earnings ratio of 15.19, a PEG ratio of 0.33 and a beta of 0.94.

Halozyme Therapeutics (NASDAQ:HALO) last posted its quarterly earnings data on Monday, November 3rd. The biopharmaceutical company reported $1.72 earnings per share for the quarter, topping the consensus estimate of $1.63 by $0.09. The firm had revenue of $354.26 million during the quarter, compared to analysts’ expectations of $339.18 million. Halozyme Therapeutics had a net margin of 47.91% and a return on equity of 156.95%. Halozyme Therapeutics’s revenue was up 22.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.27 EPS. Sell-side analysts forecast that Halozyme Therapeutics, Inc. will post 4.73 EPS for the current fiscal year.

Halozyme Therapeutics Company 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.