2Xideas AG Trims Holdings in Halozyme Therapeutics, Inc. $HALO

2Xideas AG lessened its holdings in Halozyme Therapeutics, Inc. (NASDAQ:HALO) by 13.9% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 158,824 shares of the biopharmaceutical company’s stock after selling 25,722 shares during the quarter. Halozyme Therapeutics accounts for 2.5% of 2Xideas AG’s investment portfolio, making the stock its 7th biggest position. 2Xideas AG owned 0.14% of Halozyme Therapeutics worth $11,648,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. DLD Asset Management LP bought a new stake in Halozyme Therapeutics in the 2nd quarter worth about $650,250,000. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Halozyme Therapeutics by 127.8% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 2,541,181 shares of the biopharmaceutical company’s stock valued at $132,192,000 after acquiring an additional 1,425,674 shares during the last quarter. Federated Hermes Inc. grew its stake in shares of Halozyme Therapeutics by 294.1% in the third quarter. Federated Hermes Inc. now owns 1,450,704 shares of the biopharmaceutical company’s stock worth $106,395,000 after acquiring an additional 1,082,638 shares during the period. Qube Research & Technologies Ltd purchased a new position in shares of Halozyme Therapeutics during the second quarter valued at approximately $51,295,000. Finally, Norges Bank bought a new position in Halozyme Therapeutics during the second quarter valued at approximately $45,027,000. 97.79% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on HALO. Wells Fargo & Company raised their target price on Halozyme Therapeutics from $65.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 19th. HC Wainwright reiterated a “buy” rating on shares of Halozyme Therapeutics in a research note on Thursday, January 29th. Weiss Ratings downgraded shares of Halozyme Therapeutics from a “buy (b-)” rating to a “hold (c)” rating in a report on Tuesday, February 24th. Wall Street Zen cut shares of Halozyme Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Saturday, February 21st. Finally, TD Cowen reiterated a “buy” rating on shares of Halozyme Therapeutics in a research report on Wednesday, February 18th. Six analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $78.56.

Insider Activity

In other Halozyme Therapeutics news, Director Bernadette Connaughton sold 2,000 shares of Halozyme Therapeutics 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 directly owned 40,123 shares of the company’s stock, valued at $2,818,640.75. The trade was a 4.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Helen Torley sold 20,000 shares of the business’s stock in a transaction on Tuesday, February 3rd. The shares were sold at an average price of $76.12, for a total transaction of $1,522,400.00. Following the transaction, the chief executive officer owned 708,719 shares in the company, valued at $53,947,690.28. This trade represents a 2.74% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 90,857 shares of company stock valued at $6,500,287. 2.40% of the stock is currently owned by insiders.

Halozyme Therapeutics Trading Up 0.2%

Shares of HALO opened at $63.66 on Friday. The stock has a market capitalization of $7.51 billion, a PE ratio of 25.57, a P/E/G ratio of 0.26 and a beta of 0.98. The company’s fifty day moving average is $72.42 and its 200 day moving average is $70.53. The company has a debt-to-equity ratio of 43.89, a quick ratio of 3.66 and a current ratio of 4.66. Halozyme Therapeutics, Inc. has a fifty-two week low of $47.50 and a fifty-two week high of $82.22.

Halozyme Therapeutics (NASDAQ:HALO) last issued its quarterly earnings data on Tuesday, February 17th. The biopharmaceutical company reported ($0.24) EPS for the quarter, missing analysts’ consensus estimates of $1.92 by ($2.16). Halozyme Therapeutics had a return on equity of 136.12% and a net margin of 22.69%.The business had revenue of $451.77 million during the quarter, compared to analysts’ expectations of $446.13 million. During the same period in the previous year, the business earned $1.26 earnings per share. The business’s quarterly revenue was up 51.6% on a year-over-year basis. Sell-side analysts expect that Halozyme Therapeutics, Inc. will post 4.73 earnings per share for the current fiscal year.

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.