Assenagon Asset Management S.A. Sells 600,777 Shares of Halozyme Therapeutics, Inc. $HALO

Key Points

• Assenagon Asset Management reduced its Halozyme stake by 60.2%, selling 600,777 shares and retaining 396,866 shares worth approximately $43.8 million. Institutional investors still own 97.79% of HALO.
• Analyst sentiment remains broadly positive, with an average “Moderate Buy” rating and a $99.55 target price; TD Cowen raised its target to $130 and Zacks upgraded the stock to “Strong Buy.”
• Halozyme reported strong operating momentum, including quarterly revenue growth of 47.7% and EPS of $2.28 versus $1.79 expected. The stock opened at $121.84, near its 52-week high, while insiders have sold $13.5 million of shares over the past 90 days under pre-arranged trading plans.

Assenagon Asset Management S.A. cut its position in shares of Halozyme Therapeutics, Inc. (NASDAQ:HALO - Free Report) by 60.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 396,866 shares of the biopharmaceutical company's stock after selling 600,777 shares during the period. Assenagon Asset Management S.A. owned 0.35% of Halozyme Therapeutics worth $43,814,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Mather Group LLC. raised its stake in Halozyme Therapeutics by 48.9% in the third quarter. Mather Group LLC. now owns 414 shares of the biopharmaceutical company's stock valued at $46,000 after buying an additional 136 shares during the period. CoreCap Advisors LLC boosted its position in Halozyme Therapeutics by 98.0% during the third quarter. CoreCap Advisors LLC now owns 303 shares of the biopharmaceutical company's stock worth $33,000 after purchasing an additional 150 shares during the period. Twin Capital Management Inc. boosted its position in Halozyme Therapeutics by 1.4% during the first quarter. Twin Capital Management Inc. now owns 11,422 shares of the biopharmaceutical company's stock worth $738,000 after purchasing an additional 161 shares during the period. First Citizens Bank & Trust Co. increased its holdings in shares of Halozyme Therapeutics by 2.0% in the first quarter. First Citizens Bank & Trust Co. now owns 9,088 shares of the biopharmaceutical company's stock valued at $587,000 after purchasing an additional 175 shares during the last quarter. Finally, Nations Financial Group Inc. IA ADV increased its holdings in shares of Halozyme Therapeutics by 1.2% in the first quarter. Nations Financial Group Inc. IA ADV now owns 15,177 shares of the biopharmaceutical company's stock valued at $981,000 after purchasing an additional 183 shares during the last quarter. 97.79% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on HALO shares. Benchmark restated a "buy" rating on shares of Halozyme Therapeutics in a research report on Tuesday, July 21st. TD Cowen upped their target price on Halozyme Therapeutics from $105.00 to $130.00 and gave the company a "buy" rating in a research report on Tuesday, October 13th. Wells Fargo & Company upped their target price on Halozyme Therapeutics from $75.00 to $95.00 and gave the company an "equal weight" rating in a research report on Friday, August 7th. Zacks Research upgraded Halozyme Therapeutics from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, October 13th. Finally, Citigroup reissued a "market outperform" rating on shares of Halozyme Therapeutics in a report on Friday, August 7th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Halozyme Therapeutics presently has an average rating of "Moderate Buy" and an average target price of $99.55.

Trending Headlines about Halozyme Therapeutics

Here are the key news stories impacting Halozyme Therapeutics this week:

• Positive Sentiment: Zacks upgraded HALO from “hold” to “strong buy,” citing strong price performance and favorable earnings trends. The upgrade helped reinforce investor momentum. 5 Stocks to Buy Using the Relative Price Strength Strategy
• Positive Sentiment: H.C. Wainwright reaffirmed its Buy rating on Halozyme, signaling continued confidence in the company’s growth outlook and commercial execution. H.C. Wainwright Reaffirms Their Buy Rating on Halozyme
• Positive Sentiment: TD Cowen projected substantial price appreciation for HALO, adding to the positive analyst sentiment surrounding the stock. TD Cowen Forecasts Strong Price Appreciation for Halozyme
• Positive Sentiment: Halozyme was highlighted in multiple stock-selection reports as a relative-strength and top-ranked nontechnology Nasdaq pick, based on strong price performance and rising earnings estimates. Buy 5 Top-Ranked Non-Tech Nasdaq Stocks
• Neutral Sentiment: An expanded agreement with argenx could improve Halozyme’s long-term royalty and licensing opportunity, but investors are weighing the deal’s ultimate financial contribution and execution risks. Is Expanded Argenx Deal Altering the Investment Case for Halozyme?

Insider Activity

In related news, Director Matthew Posard sold 5,230 shares of the business's stock in a transaction that occurred on Thursday, October 1st. The stock was sold at an average price of $108.54, for a total value of $567,664.20. Following the completion of the sale, the director directly owned 53,609 shares in the company, valued at approximately $5,818,720.86. The trade was a 8.89% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Helen Torley sold 20,000 shares of the stock in a transaction that occurred on Thursday, October 8th. The stock was sold at an average price of $109.40, for a total value of $2,188,000.00. Following the sale, the chief executive officer directly owned 767,780 shares in the company, valued at $83,995,132. This represents a 2.54% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 125,852 shares of company stock worth $13,538,046. Corporate insiders own 2.50% of the company's stock.

Halozyme Therapeutics Price Performance

NASDAQ:HALO opened at $121.84 on Friday. Halozyme Therapeutics, Inc. has a 52 week low of $61.22 and a 52 week high of $122.45. The company has a debt-to-equity ratio of 13.50, a quick ratio of 2.31 and a current ratio of 2.71. The firm's 50-day simple moving average is $109.06 and its 200 day simple moving average is $84.92. The firm has a market cap of $13.83 billion, a price-to-earnings ratio of 36.37, a P/E/G ratio of 0.46 and a beta of 0.88.

Halozyme Therapeutics (NASDAQ:HALO - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The biopharmaceutical company reported $2.28 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.79 by $0.49. Halozyme Therapeutics had a net margin of 24.86% and a return on equity of 260.98%. The firm had revenue of $481.00 million during the quarter, compared to the consensus estimate of $402.28 million. During the same quarter in the previous year, the firm posted $1.54 EPS. The business's revenue for the quarter was up 47.7% compared to the same quarter last year. Halozyme Therapeutics has set its FY 2026 guidance at 8.650-9.000 EPS. As a group, sell-side analysts predict that Halozyme Therapeutics, Inc. will post 8.31 earnings per share for the current year.

About Halozyme Therapeutics

Halozyme Therapeutics, Inc is a biopharmaceutical company focused on developing and commercializing drug-delivery technologies that improve the administration of injectable medicines. The company's primary platform, ENHANZE, uses recombinant human hyaluronidase to temporarily modify tissue beneath the skin, allowing certain drugs and biologics that are traditionally delivered by intravenous infusion to be administered by subcutaneous injection.

Halozyme licenses its technology to pharmaceutical and biotechnology companies, which incorporate it into their own therapies.

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