Aquatic Capital Management LLC Acquires Shares of 89,651 Halozyme Therapeutics, Inc. $HALO

Aquatic Capital Management LLC bought a new position in Halozyme Therapeutics, Inc. (NASDAQ:HALO) during the third quarter, according to its most recent 13F filing with the SEC. The fund bought 89,651 shares of the biopharmaceutical company’s stock, valued at approximately $6,575,000. Aquatic Capital Management LLC owned about 0.08% of Halozyme Therapeutics as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in HALO. Empowered Funds LLC bought a new stake in Halozyme Therapeutics in the first quarter worth $755,000. Acadian Asset Management LLC bought a new position in Halozyme Therapeutics during the first quarter valued at $195,000. Allworth Financial LP raised its stake in shares of Halozyme Therapeutics by 607.1% in the second quarter. Allworth Financial LP now owns 9,405 shares of the biopharmaceutical company’s stock valued at $489,000 after acquiring an additional 8,075 shares during the period. PNC Financial Services Group Inc. lifted its holdings in shares of Halozyme Therapeutics by 8.0% in the 2nd quarter. PNC Financial Services Group Inc. now owns 9,857 shares of the biopharmaceutical company’s stock worth $513,000 after acquiring an additional 727 shares during the last quarter. Finally, Police & Firemen s Retirement System of New Jersey lifted its holdings in shares of Halozyme Therapeutics by 72.7% in the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 46,401 shares of the biopharmaceutical company’s stock worth $2,414,000 after acquiring an additional 19,533 shares during the last quarter. 97.79% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on HALO shares. Wells Fargo & Company lifted 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 reissued a “buy” rating on shares of Halozyme Therapeutics in a research note on Thursday, January 29th. TD Cowen restated a “buy” rating on shares of Halozyme Therapeutics in a report on Wednesday, February 18th. Wall Street Zen lowered Halozyme Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Saturday, February 21st. Finally, The Goldman Sachs Group reiterated a “sell” rating and issued a $56.00 target price on shares of Halozyme Therapeutics in a report on Thursday, December 4th. Six equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Halozyme Therapeutics presently has an average rating of “Hold” and a consensus target price of $78.56.

Insider Activity

In other news, COO Cortney Caudill sold 8,857 shares of the firm’s stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $67.64, for a total value of $599,087.48. Following the completion of the sale, the chief operating officer owned 7,055 shares of the company’s stock, valued at $477,200.20. This trade represents a 55.66% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Bernadette Connaughton sold 2,000 shares of the business’s stock in a transaction on Monday, January 5th. The stock was sold at an average price of $70.25, for a total value of $140,500.00. Following the transaction, the director owned 40,123 shares in the company, valued at approximately $2,818,640.75. This trade represents a 4.75% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 90,857 shares of company stock worth $6,500,287. Insiders own 2.90% of the company’s stock.

Halozyme Therapeutics Stock Performance

Shares of HALO stock opened at $63.66 on Monday. The firm has a market cap of $7.51 billion, a price-to-earnings ratio of 25.57, a PEG ratio of 0.26 and a beta of 0.98. Halozyme Therapeutics, Inc. has a 52-week low of $47.50 and a 52-week high of $82.22. The company has a quick ratio of 3.66, a current ratio of 4.66 and a debt-to-equity ratio of 43.89. The company’s 50 day moving average is $72.42 and its 200 day moving average is $70.50.

Halozyme Therapeutics (NASDAQ:HALO) last announced its earnings results on Tuesday, February 17th. The biopharmaceutical company reported ($0.24) earnings per share (EPS) for the quarter, missing the consensus estimate of $1.92 by ($2.16). Halozyme Therapeutics had a net margin of 22.69% and a return on equity of 136.12%. The company had revenue of $451.77 million for the quarter, compared to the consensus estimate of $446.13 million. During the same period last year, the business posted $1.26 EPS. The firm’s revenue was up 51.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Halozyme Therapeutics, Inc. will post 4.73 EPS for the current fiscal year.

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.