King Luther Capital Management Corp Makes New $4.23 Million Investment in Halozyme Therapeutics, Inc. (NASDAQ:HALO)

Key Points

• King Luther Capital Management Corp has acquired 66,240 shares of Halozyme Therapeutics, valued at approximately $4.2 million, increasing its stake to about 0.05% of the company.
• CEO Helen Torley sold 20,000 shares at an average price of $56.43, reducing her ownership by 2.65% to around 733,719 shares.
• Halozyme Therapeutics reported a 40.8% revenue increase year-over-year and earnings per share (EPS) of $1.54, surpassing analysts' expectations of $1.23.

King Luther Capital Management Corp acquired a new position in Halozyme Therapeutics, Inc. (NASDAQ:HALO - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 66,240 shares of the biopharmaceutical company's stock, valued at approximately $4,227,000. King Luther Capital Management Corp owned approximately 0.05% of Halozyme Therapeutics as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. Snyder Capital Management L P boosted its holdings in Halozyme Therapeutics by 2.6% in the fourth quarter. Snyder Capital Management L P now owns 4,168,453 shares of the biopharmaceutical company's stock worth $199,294,000 after acquiring an additional 105,086 shares in the last quarter. Congress Asset Management Co. increased its holdings in shares of Halozyme Therapeutics by 8.8% during the first quarter. Congress Asset Management Co. now owns 2,132,707 shares of the biopharmaceutical company's stock valued at $136,088,000 after acquiring an additional 172,971 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Halozyme Therapeutics by 2.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,933,560 shares of the biopharmaceutical company's stock valued at $92,446,000 after purchasing an additional 47,795 shares during the last quarter. Northern Trust Corp boosted its stake in Halozyme Therapeutics by 8.7% in the 4th quarter. Northern Trust Corp now owns 1,827,771 shares of the biopharmaceutical company's stock worth $87,386,000 after purchasing an additional 145,617 shares in the last quarter. Finally, TD Asset Management Inc grew its position in Halozyme Therapeutics by 5.8% during the 1st quarter. TD Asset Management Inc now owns 1,451,842 shares of the biopharmaceutical company's stock worth $92,642,000 after purchasing an additional 79,708 shares during the last quarter. Hedge funds and other institutional investors own 97.79% of the company's stock.

Insider Buying and Selling

In other news, CEO Helen Torley sold 20,000 shares of the business's stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $63.51, for a total value of $1,270,200.00. Following the sale, the chief executive officer directly owned 733,719 shares of the company's stock, valued at approximately $46,598,493.69. The trade was a 2.65% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold 80,000 shares of company stock worth $4,532,600 over the last quarter. 2.40% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Leerink Partners lowered shares of Halozyme Therapeutics from a "market perform" rating to an "underperform" rating and set a $47.00 price objective on the stock. in a report on Tuesday, May 13th. Wells Fargo & Company lifted their price objective on shares of Halozyme Therapeutics from $60.00 to $65.00 and gave the company an "equal weight" rating in a research note on Wednesday, May 7th. JPMorgan Chase & Co. increased their price objective on shares of Halozyme Therapeutics from $60.00 to $63.00 and gave the stock a "neutral" rating in a research note on Thursday, August 7th. Morgan Stanley upgraded Halozyme Therapeutics from an "equal weight" rating to an "overweight" rating and upped their target price for the stock from $62.00 to $75.00 in a research note on Wednesday, August 6th. Finally, Leerink Partnrs lowered shares of Halozyme Therapeutics from a "hold" rating to a "strong sell" rating in a report on Tuesday, May 13th. Two analysts have rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $66.56.

Halozyme Therapeutics Price Performance

Shares of Halozyme Therapeutics stock traded up $0.41 during trading hours on Thursday, reaching $65.54. 1,598,185 shares of the company's stock were exchanged, compared to its average volume of 1,959,797. The company has a quick ratio of 7.01, a current ratio of 8.36 and a debt-to-equity ratio of 4.54. The business has a fifty day moving average of $56.56 and a two-hundred day moving average of $58.10. Halozyme Therapeutics, Inc. has a 1 year low of $42.01 and a 1 year high of $70.50. The company has a market capitalization of $8.08 billion, a P/E ratio of 15.00, a price-to-earnings-growth ratio of 0.35 and a beta of 1.17.

Halozyme Therapeutics (NASDAQ:HALO - Get Free Report) last issued its earnings results on Tuesday, August 5th. The biopharmaceutical company reported $1.54 EPS for the quarter, topping analysts' consensus estimates of $1.23 by $0.31. Halozyme Therapeutics had a net margin of 47.28% and a return on equity of 150.85%. The company had revenue of $325.72 million for the quarter, compared to the consensus estimate of $282.66 million. During the same period in the previous year, the firm earned $0.91 earnings per share. Halozyme Therapeutics's quarterly revenue was up 40.8% compared to the same quarter last year. As a group, research analysts predict that Halozyme Therapeutics, Inc. will post 4.73 earnings per share for the current fiscal year.

Halozyme Therapeutics Company Profile

Halozyme Therapeutics, Inc, a biopharma technology platform company, researches, develops, and commercializes proprietary enzymes and devices in the United States, Switzerland, Belgium, Japan, and internationally. The company's products are based on the patented recombinant human hyaluronidase enzyme (rHuPH20) that enables delivery of injectable biologics, such as monoclonal antibodies and other therapeutic molecules, as well as small molecules and fluids.