Envestnet Asset Management Inc. Cuts Stake in Halozyme Therapeutics, Inc. $HALO

Envestnet Asset Management Inc. lowered its position in Halozyme Therapeutics, Inc. (NASDAQ:HALO) by 8.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 246,478 shares of the biopharmaceutical company’s stock after selling 23,319 shares during the quarter. Envestnet Asset Management Inc. owned 0.21% of Halozyme Therapeutics worth $18,077,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of HALO. DLD Asset Management LP bought a new stake in shares of Halozyme Therapeutics in the 2nd quarter worth about $650,250,000. Arrowstreet Capital Limited Partnership increased its holdings 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 valued at $132,192,000 after buying an additional 1,425,674 shares during the last quarter. Federated Hermes Inc. raised its stake in Halozyme Therapeutics by 294.1% during the third quarter. Federated Hermes Inc. now owns 1,450,704 shares of the biopharmaceutical company’s stock valued at $106,395,000 after buying an additional 1,082,638 shares in the last quarter. Qube Research & Technologies Ltd bought a new position in Halozyme Therapeutics during the 2nd quarter worth approximately $51,295,000. Finally, Los Angeles Capital Management LLC grew its position in shares of Halozyme Therapeutics by 951.8% in the 2nd quarter. Los Angeles Capital Management LLC now owns 973,670 shares of the biopharmaceutical company’s stock worth $50,650,000 after acquiring an additional 881,094 shares in the last quarter. 97.79% of the stock is currently owned by institutional investors and hedge funds.

Halozyme Therapeutics Price Performance

NASDAQ HALO opened at $79.44 on Friday. Halozyme Therapeutics, Inc. has a fifty-two week low of $47.50 and a fifty-two week high of $82.22. The stock’s 50-day moving average is $70.85 and its two-hundred day moving average is $69.89. The firm has a market cap of $9.34 billion, a P/E ratio of 16.72, a price-to-earnings-growth ratio of 0.33 and a beta of 0.97. The company has a debt-to-equity ratio of 1.59, a current ratio of 1.59 and a quick ratio of 1.37.

Insider Activity

In other Halozyme Therapeutics news, Director Bernadette Connaughton sold 2,000 shares of the stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $70.25, for a total transaction of $140,500.00. Following the sale, 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Helen Torley sold 10,000 shares of the business’s stock in a transaction dated Thursday, February 5th. The stock was sold at an average price of $78.64, for a total value of $786,400.00. Following the sale, the chief executive officer directly owned 708,719 shares of the company’s stock, valued at $55,733,662.16. This represents a 1.39% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 49,398 shares of company stock worth $3,650,592 over the last ninety days. Insiders own 2.40% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. TD Cowen increased their price target on Halozyme Therapeutics from $79.00 to $90.00 and gave the stock a “buy” rating in a research report on Thursday, January 8th. HC Wainwright reaffirmed a “buy” rating on shares of Halozyme Therapeutics in a research report on Thursday, January 29th. Citigroup restated a “market outperform” rating on shares of Halozyme Therapeutics in a research report on Tuesday, November 4th. Weiss Ratings upgraded shares of Halozyme Therapeutics from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday. Finally, Wall Street Zen upgraded shares of Halozyme Therapeutics from a “buy” rating to a “strong-buy” rating in a research report on Saturday, January 31st. Eight research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $78.80.

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.