Cim Investment Management Inc. Sells 9,295 Shares of Halozyme Therapeutics, Inc. $HALO

Cim Investment Management Inc. reduced its stake in Halozyme Therapeutics, Inc. (NASDAQ:HALO) by 51.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,629 shares of the biopharmaceutical company’s stock after selling 9,295 shares during the period. Cim Investment Management Inc.’s holdings in Halozyme Therapeutics were worth $633,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the stock. Campbell Newman Asset Management Inc. lifted its stake in shares of Halozyme Therapeutics by 0.4% in the 3rd quarter. Campbell Newman Asset Management Inc. now owns 36,878 shares of the biopharmaceutical company’s stock valued at $2,705,000 after purchasing an additional 153 shares during the period. Alps Advisors Inc. grew its stake in Halozyme Therapeutics by 3.0% in the third quarter. Alps Advisors Inc. now owns 5,926 shares of the biopharmaceutical company’s stock worth $435,000 after purchasing an additional 170 shares during the period. EverSource Wealth Advisors LLC raised its holdings in Halozyme Therapeutics by 6.9% in the second quarter. EverSource Wealth Advisors LLC now owns 2,685 shares of the biopharmaceutical company’s stock worth $140,000 after purchasing an additional 174 shares in the last quarter. Private Advisor Group LLC raised its holdings in Halozyme Therapeutics by 0.8% in the third quarter. Private Advisor Group LLC now owns 23,623 shares of the biopharmaceutical company’s stock worth $1,733,000 after purchasing an additional 184 shares in the last quarter. Finally, Richardson Financial Services Inc. lifted its position in Halozyme Therapeutics by 87.6% during the third quarter. Richardson Financial Services Inc. now owns 424 shares of the biopharmaceutical company’s stock valued at $31,000 after buying an additional 198 shares during the period. 97.79% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Halozyme Therapeutics

In other news, CEO Helen Torley sold 20,000 shares of the business’s stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $76.12, for a total value of $1,522,400.00. Following the completion of the transaction, the chief executive officer owned 708,719 shares in the company, valued at $53,947,690.28. The trade was a 2.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Cortney Caudill sold 20,000 shares of the business’s stock in a transaction on Monday, March 9th. The stock was sold at an average price of $67.80, for a total value of $1,356,000.00. Following the completion of the transaction, the chief operating officer owned 14,366 shares of the company’s stock, valued at $974,014.80. This represents a 58.20% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 90,857 shares of company stock valued at $6,500,287. 2.90% of the stock is owned by corporate insiders.

Halozyme Therapeutics Stock Up 1.3%

NASDAQ:HALO opened at $65.13 on Wednesday. The company has a debt-to-equity ratio of 43.89, a quick ratio of 3.66 and a current ratio of 4.66. The firm has a market cap of $7.69 billion, a P/E ratio of 26.16, a P/E/G ratio of 0.26 and a beta of 0.98. Halozyme Therapeutics, Inc. has a fifty-two week low of $47.50 and a fifty-two week high of $82.22. The firm has a 50-day simple moving average of $72.12 and a two-hundred day simple moving average of $70.38.

Halozyme Therapeutics (NASDAQ:HALO) last issued 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 return on equity of 136.12% and a net margin of 22.69%.The firm had revenue of $451.77 million during the quarter, compared to the consensus estimate of $446.13 million. During the same quarter in the prior year, the company posted $1.26 EPS. The company’s quarterly revenue was up 51.6% on a year-over-year basis. Analysts predict that Halozyme Therapeutics, Inc. will post 4.73 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. Weiss Ratings cut shares of Halozyme Therapeutics from a “buy (b-)” rating to a “hold (c)” rating in a report on Tuesday, February 24th. HC Wainwright reissued a “buy” rating on shares of Halozyme Therapeutics in a research report on Thursday, January 29th. Wells Fargo & Company boosted their price objective on shares of Halozyme Therapeutics from $65.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 19th. 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 reaffirmed a “buy” rating on shares of Halozyme Therapeutics in a research note on Wednesday, February 18th. Six investment 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. Based on data from MarketBeat, Halozyme Therapeutics currently has an average rating of “Hold” and an average price target of $78.56.

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.