Assetmark Inc. Has $9.25 Million Position in Halozyme Therapeutics, Inc. $HALO

Key Points

• Assetmark Inc. raised its stake in Halozyme by 11.9% to 137,415 shares worth about $9.25 million, representing roughly 0.12% of the company at quarter end.
• Company insiders have been selling recently — COO Cortney Caudill and CEO Helen Torley each sold 20,000 shares — with insiders offloading 118,857 shares (~$8.28M) in the last 90 days while still owning about 2.5% of the stock.
• Halozyme posted a notable EPS miss (loss of $0.24 vs. $1.92 expected) but beat revenue ($451.8M, +51.6% y/y); analysts' consensus is a Hold with an average price target of $78.56 (6 Buy / 5 Hold / 1 Sell).

Assetmark Inc. increased its position in Halozyme Therapeutics, Inc. (NASDAQ:HALO - Free Report) by 11.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 137,415 shares of the biopharmaceutical company's stock after buying an additional 14,568 shares during the period. Assetmark Inc. owned 0.12% of Halozyme Therapeutics worth $9,248,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Root Financial Partners LLC acquired a new stake in shares of Halozyme Therapeutics in the 3rd quarter valued at about $25,000. Larson Financial Group LLC boosted its stake in Halozyme Therapeutics by 3,118.2% during the 3rd quarter. Larson Financial Group LLC now owns 354 shares of the biopharmaceutical company's stock valued at $26,000 after purchasing an additional 343 shares during the last quarter. Richardson Financial Services Inc. boosted its stake in Halozyme Therapeutics by 87.6% during the 3rd quarter. Richardson Financial Services Inc. now owns 424 shares of the biopharmaceutical company's stock valued at $31,000 after purchasing an additional 198 shares during the last quarter. Clearstead Advisors LLC boosted its stake in Halozyme Therapeutics by 107.7% during the 3rd quarter. Clearstead Advisors LLC now owns 511 shares of the biopharmaceutical company's stock valued at $37,000 after purchasing an additional 265 shares during the last quarter. Finally, Penserra Capital Management LLC acquired a new position in Halozyme Therapeutics during the 3rd quarter valued at about $52,000. 97.79% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, COO Cortney Caudill sold 20,000 shares of the business's stock in a transaction on Monday, March 9th. The shares were sold at an average price of $67.80, for a total value of $1,356,000.00. Following the transaction, the chief operating officer owned 14,366 shares of the company's stock, valued at approximately $974,014.80. The trade was a 58.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Helen Torley sold 20,000 shares of the business's stock in a transaction on Thursday, April 2nd. The stock was sold at an average price of $64.24, for a total transaction of $1,284,800.00. Following the completion of the transaction, the chief executive officer directly owned 767,780 shares in the company, valued at $49,322,187.20. This trade 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. In the last 90 days, insiders have sold 118,857 shares of company stock worth $8,279,587. 2.50% of the stock is owned by insiders.

Analyst Ratings Changes

HALO has been the subject of a number of analyst reports. HC Wainwright reiterated a "buy" rating on shares of Halozyme Therapeutics in a research note on Thursday, January 29th. Wall Street Zen downgraded Halozyme Therapeutics from a "strong-buy" rating to a "hold" rating in a research note on Saturday, February 21st. Weiss Ratings downgraded Halozyme Therapeutics from a "buy (b-)" rating to a "hold (c)" rating in a research note on Tuesday, February 24th. Wells Fargo & Company lifted their price target on Halozyme Therapeutics from $65.00 to $75.00 and gave the company an "equal weight" rating in a research note on Thursday, February 19th. Finally, TD Cowen reiterated a "buy" rating on shares of Halozyme Therapeutics in a research note on Wednesday, February 18th. Six analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $78.56.

Halozyme Therapeutics Price Performance

HALO stock opened at $69.29 on Friday. Halozyme Therapeutics, Inc. has a 1 year low of $47.50 and a 1 year high of $82.22. The company has a market cap of $8.21 billion, a P/E ratio of 27.83, a PEG ratio of 0.27 and a beta of 1.03. The firm has a 50-day moving average of $68.31 and a 200 day moving average of $68.73. The company has a debt-to-equity ratio of 43.89, a current ratio of 4.66 and a quick ratio of 3.66.

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

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.

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