Canada Pension Plan Investment Board Has $6.96 Million Stock Position in Halozyme Therapeutics, Inc. $HALO

Key Points

• The Canada Pension Plan Investment Board reduced its stake in Halozyme Therapeutics by 38.8%, after selling 69,100 shares, now owning approximately $6.96 million worth of the company.
• CEO Helen Torley and Director Bernadette Connaughton both sold shares recently, with Torley selling 20,000 shares and Connaughton selling 4,000 shares, indicating recent insider activity.
• Halozyme Therapeutics reported a 40.8% increase in quarterly revenue year-over-year, with earnings of $1.54 per share, surpassing analysts' expectations of $1.23.

Canada Pension Plan Investment Board cut its position in shares of Halozyme Therapeutics, Inc. (NASDAQ:HALO - Free Report) by 38.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 109,100 shares of the biopharmaceutical company's stock after selling 69,100 shares during the quarter. Canada Pension Plan Investment Board owned 0.09% of Halozyme Therapeutics worth $6,962,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Lansforsakringar Fondforvaltning AB publ lifted its stake in Halozyme Therapeutics by 6.2% during the first quarter. Lansforsakringar Fondforvaltning AB publ now owns 9,457 shares of the biopharmaceutical company's stock valued at $603,000 after buying an additional 550 shares in the last quarter. Wealth Preservation Advisors LLC acquired a new position in Halozyme Therapeutics during the first quarter valued at approximately $32,000. Epoch Investment Partners Inc. grew its holdings in Halozyme Therapeutics by 6.3% during the first quarter. Epoch Investment Partners Inc. now owns 827,247 shares of the biopharmaceutical company's stock valued at $52,787,000 after purchasing an additional 48,936 shares during the last quarter. FORA Capital LLC bought a new stake in shares of Halozyme Therapeutics in the first quarter valued at approximately $1,733,000. Finally, Caisse DE Depot ET Placement DU Quebec boosted its position in shares of Halozyme Therapeutics by 154.5% in the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 910,169 shares of the biopharmaceutical company's stock valued at $58,078,000 after acquiring an additional 552,590 shares during the period. 97.79% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Bernadette Connaughton sold 4,000 shares of Halozyme Therapeutics stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $73.68, for a total transaction of $294,720.00. Following the sale, the director directly owned 46,952 shares of the company's stock, valued at approximately $3,459,423.36. This trade represents a 7.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Helen Torley sold 20,000 shares of Halozyme Therapeutics stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $74.44, for a total value of $1,488,800.00. Following the sale, the chief executive officer directly owned 733,719 shares in the company, valued at $54,618,042.36. The trade was a 2.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 104,000 shares of company stock worth $6,316,120. 2.40% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on HALO shares. Leerink Partnrs cut Halozyme Therapeutics from a "hold" rating to a "strong sell" rating in a research report on Tuesday, May 13th. Wall Street Zen lowered Halozyme Therapeutics from a "strong-buy" rating to a "buy" rating in a research note on Friday. Leerink Partners lowered Halozyme Therapeutics from a "market perform" rating to an "underperform" rating and set a $47.00 price objective for the company. in a research report on Tuesday, May 13th. JPMorgan Chase & Co. raised their target price on Halozyme Therapeutics from $60.00 to $63.00 and gave the stock a "neutral" rating in a report on Thursday, August 7th. Finally, JMP Securities raised their target price on Halozyme Therapeutics from $78.00 to $91.00 and gave the stock a "market outperform" rating in a report on Wednesday, August 6th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $67.11.

Halozyme Therapeutics Stock Up 2.1%

NASDAQ HALO traded up $1.53 during trading on Friday, hitting $74.93. The stock had a trading volume of 1,890,001 shares, compared to its average volume of 2,006,340. The company has a market capitalization of $8.76 billion, a PE ratio of 17.15, a P/E/G ratio of 0.41 and a beta of 1.19. Halozyme Therapeutics, Inc. has a 12 month low of $42.01 and a 12 month high of $75.46. The company's 50-day moving average price is $62.80 and its two-hundred day moving average price is $59.83. The company has a debt-to-equity ratio of 4.54, a quick ratio of 7.01 and a current ratio of 8.36.

Halozyme Therapeutics (NASDAQ:HALO - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The biopharmaceutical company reported $1.54 earnings per share for the quarter, beating analysts' consensus estimates of $1.23 by $0.31. The business had revenue of $325.72 million for the quarter, compared to analysts' expectations of $282.66 million. Halozyme Therapeutics had a return on equity of 150.85% and a net margin of 47.28%.The firm's revenue for the quarter was up 40.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.91 EPS. Halozyme Therapeutics has set its FY 2025 guidance at 6.000-6.400 EPS. As a group, sell-side analysts forecast that Halozyme Therapeutics, Inc. will post 4.73 EPS for the current year.

Halozyme Therapeutics 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.