Bokf Na Takes Position in Halozyme Therapeutics, Inc. $HALO

Key Points

• Bokf Na opened a new position in Halozyme Therapeutics during the fourth quarter, buying 16,050 shares valued at about $1.08 million.
• Institutional ownership remains very high, with hedge funds and other institutions controlling 97.79% of the stock; several firms, including DLD Asset Management and Federated Hermes, increased their stakes significantly.
• Halozyme shares were down 1.6% to $64.12, while analysts are mixed overall: the consensus rating is Hold with a price target of $79.11, despite some recent target increases from firms like Benchmark and HC Wainwright.

Bokf Na purchased a new position in Halozyme Therapeutics, Inc. (NASDAQ:HALO - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 16,050 shares of the biopharmaceutical company's stock, valued at approximately $1,080,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. DLD Asset Management LP boosted its stake in shares of Halozyme Therapeutics by 20.0% in the 3rd quarter. DLD Asset Management LP now owns 30,000,000 shares of the biopharmaceutical company's stock worth $2,200,200,000 after buying an additional 5,000,000 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in Halozyme Therapeutics by 29.5% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 3,290,665 shares of the biopharmaceutical company's stock worth $241,337,000 after purchasing an additional 749,484 shares during the period. Dimensional Fund Advisors LP raised its holdings in Halozyme Therapeutics by 3.2% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,078,426 shares of the biopharmaceutical company's stock worth $152,431,000 after purchasing an additional 63,699 shares during the period. Federated Hermes Inc. raised its holdings in Halozyme Therapeutics by 294.1% in the 3rd quarter. Federated Hermes Inc. now owns 1,450,704 shares of the biopharmaceutical company's stock worth $106,395,000 after purchasing an additional 1,082,638 shares during the period. Finally, LSV Asset Management raised its holdings in Halozyme Therapeutics by 0.9% in the 3rd quarter. LSV Asset Management now owns 1,266,027 shares of the biopharmaceutical company's stock worth $92,850,000 after purchasing an additional 10,787 shares during the period. 97.79% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Bernadette Connaughton sold 1,625 shares of the company's stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $63.48, for a total transaction of $103,155.00. Following the transaction, the director owned 38,498 shares of the company's stock, valued at approximately $2,443,853.04. This represents a 4.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed 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 company's stock in a transaction that occurred on Thursday, April 2nd. The shares were sold at an average price of $64.24, for a total value of $1,284,800.00. Following the transaction, the chief executive officer directly owned 767,780 shares in the company, valued at approximately $49,322,187.20. 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 90 days, insiders have sold 90,482 shares of company stock valued at $6,073,942. 2.50% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

HALO has been the topic of a number of recent research reports. Benchmark raised their target price on Halozyme Therapeutics from $75.00 to $90.00 and gave the stock a "buy" rating in a report on Thursday, February 19th. Wells Fargo & Company raised their price target on Halozyme Therapeutics from $65.00 to $75.00 and gave the company an "equal weight" rating in a report on Thursday, February 19th. Weiss Ratings downgraded Halozyme Therapeutics from a "buy (b-)" rating to a "hold (c)" rating in a research note on Tuesday, February 24th. Wall Street Zen lowered shares of Halozyme Therapeutics from a "strong-buy" rating to a "hold" rating in a report on Saturday, February 21st. Finally, HC Wainwright increased their price objective on shares of Halozyme Therapeutics from $90.00 to $95.00 and gave the company a "buy" rating in a report on Wednesday, April 29th. Six equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $79.11.

Halozyme Therapeutics Trading Down 1.6%

HALO opened at $64.12 on Friday. The stock has a market cap of $7.60 billion, a price-to-earnings ratio of 25.75, a P/E/G ratio of 0.27 and a beta of 0.89. The stock's 50 day moving average price is $65.86 and its 200-day moving average price is $68.59. Halozyme Therapeutics, Inc. has a one year low of $47.50 and a one year high of $82.22. The company has a debt-to-equity ratio of 43.89, a quick ratio of 3.66 and a current ratio of 4.66.

Halozyme Therapeutics (NASDAQ:HALO - Get Free Report) last released its earnings results on Tuesday, February 17th. The biopharmaceutical company reported ($0.24) EPS for the quarter, missing analysts' consensus estimates of $1.92 by ($2.16). The business had revenue of $451.77 million for the quarter, compared to the consensus estimate of $446.13 million. Halozyme Therapeutics had a net margin of 22.69% and a return on equity of 136.12%. The company's quarterly revenue was up 51.6% compared to the same quarter last year. During the same period in the prior year, the company posted $1.26 EPS. On average, equities analysts forecast that Halozyme Therapeutics, Inc. will post 7.68 EPS for the current 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.

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