Castellan Group Increases Stake in Halozyme Therapeutics, Inc. (NASDAQ:HALO)

Key Points

• Castellan Group increased its investment in Halozyme Therapeutics by 118.5% during the first quarter, making it the largest holding in their portfolio with 254,477 shares valued at approximately $16.2 million.
• CEO Helen Torley sold 20,000 shares for over $1.1 million, representing a 2.65% decrease in her ownership, while insider ownership is currently at 2.40%.
• Halozyme Therapeutics reported a 35.2% year-over-year revenue increase, with earnings per share of $1.11, surpassing analyst expectations of $0.98.

Castellan Group raised its holdings in shares of Halozyme Therapeutics, Inc. (NASDAQ:HALO - Free Report) by 118.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 254,477 shares of the biopharmaceutical company's stock after purchasing an additional 138,007 shares during the period. Halozyme Therapeutics comprises about 4.5% of Castellan Group's portfolio, making the stock its largest holding. Castellan Group owned approximately 0.21% of Halozyme Therapeutics worth $16,238,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Isthmus Partners LLC lifted its holdings in shares of Halozyme Therapeutics by 2.5% in the 1st quarter. Isthmus Partners LLC now owns 6,875 shares of the biopharmaceutical company's stock worth $439,000 after purchasing an additional 169 shares during the last quarter. OneDigital Investment Advisors LLC increased its position in Halozyme Therapeutics by 1.7% in the first quarter. OneDigital Investment Advisors LLC now owns 10,176 shares of the biopharmaceutical company's stock worth $649,000 after buying an additional 175 shares during the period. Park Place Capital Corp lifted its stake in Halozyme Therapeutics by 20.1% in the first quarter. Park Place Capital Corp now owns 1,086 shares of the biopharmaceutical company's stock valued at $69,000 after buying an additional 182 shares during the last quarter. Xponance Inc. boosted its holdings in shares of Halozyme Therapeutics by 1.1% during the first quarter. Xponance Inc. now owns 18,652 shares of the biopharmaceutical company's stock valued at $1,190,000 after acquiring an additional 198 shares during the period. Finally, Bessemer Group Inc. grew its position in shares of Halozyme Therapeutics by 62.9% during the first quarter. Bessemer Group Inc. now owns 536 shares of the biopharmaceutical company's stock worth $34,000 after acquiring an additional 207 shares during the last quarter. Institutional investors own 97.79% of the company's stock.

Insider Transactions at Halozyme Therapeutics

In other news, CEO Helen Torley sold 20,000 shares of the business's stock in a transaction dated Wednesday, July 9th. The stock was sold at an average price of $56.43, for a total value of $1,128,600.00. Following the sale, the chief executive officer directly owned 733,719 shares in the company, valued at $41,403,763.17. The trade was a 2.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Over the last three months, insiders sold 60,000 shares of company stock worth $3,262,400. 2.40% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages recently weighed in on HALO. HC Wainwright reiterated a "buy" rating and issued a $72.00 price objective on shares of Halozyme Therapeutics in a research report on Thursday, May 29th. Wells Fargo & Company raised their price target 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. Leerink Partnrs downgraded Halozyme Therapeutics from a "hold" rating to a "strong sell" rating in a research report on Tuesday, May 13th. Morgan Stanley cut Halozyme Therapeutics from an "overweight" rating to an "equal weight" rating and lowered their target price for the company from $73.00 to $62.00 in a research report on Wednesday, May 14th. Finally, Leerink Partners downgraded Halozyme Therapeutics from a "market perform" rating to an "underperform" rating and set a $47.00 target price on the stock. in a research note on Tuesday, May 13th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Halozyme Therapeutics presently has an average rating of "Hold" and an average target price of $62.70.

Halozyme Therapeutics Stock Performance

Shares of NASDAQ HALO opened at $59.97 on Friday. Halozyme Therapeutics, Inc. has a 1 year low of $42.01 and a 1 year high of $70.50. The firm has a market cap of $7.39 billion, a P/E ratio of 15.95, a PEG ratio of 0.40 and a beta of 1.15. The stock has a fifty day moving average price of $55.08 and a two-hundred day moving average price of $57.63. The company has a debt-to-equity ratio of 3.13, a quick ratio of 7.30 and a current ratio of 8.39.

Halozyme Therapeutics (NASDAQ:HALO - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The biopharmaceutical company reported $1.11 earnings per share for the quarter, beating analysts' consensus estimates of $0.98 by $0.13. Halozyme Therapeutics had a net margin of 44.76% and a return on equity of 136.91%. The company had revenue of $264.86 million during the quarter, compared to the consensus estimate of $231.21 million. During the same period in the prior year, the company earned $0.79 EPS. Halozyme Therapeutics's revenue was up 35.2% on a year-over-year basis. Research analysts forecast that Halozyme Therapeutics, Inc. will post 4.73 EPS 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.

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