Choreo LLC Sells 28,448 Shares of Halozyme Therapeutics, Inc. $HALO

Key Points

• Choreo LLC cut its position in Halozyme by 90.2%, selling 28,448 shares and retaining 3,075 shares valued at about $208,000 after the quarter.
• Insiders have been active sellers recently: COO Cortney Caudill sold 8,857 shares and CEO Helen Torley sold 10,000 shares, with insiders disposing of 118,857 shares worth roughly $8.28 million in the past 90 days.
• Analysts are mixed with a consensus rating of Hold and an average price target of $78.56, while Halozyme reported revenue up 51.6% to $451.8M but missed EPS (reported ($0.24) vs. $1.92 consensus).

Choreo LLC reduced its position in Halozyme Therapeutics, Inc. (NASDAQ:HALO - Free Report) by 90.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,075 shares of the biopharmaceutical company's stock after selling 28,448 shares during the quarter. Choreo LLC's holdings in Halozyme Therapeutics were worth $208,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of HALO. Empowered Funds LLC bought a new position in shares of Halozyme Therapeutics in the first quarter worth approximately $755,000. Acadian Asset Management LLC bought a new position in shares of Halozyme Therapeutics in the first quarter worth approximately $195,000. Hsbc Holdings PLC boosted its position in shares of Halozyme Therapeutics by 117.1% in the second quarter. Hsbc Holdings PLC now owns 10,102 shares of the biopharmaceutical company's stock worth $522,000 after purchasing an additional 5,448 shares during the period. EverSource Wealth Advisors LLC boosted its position in shares of Halozyme Therapeutics by 6.9% during the second quarter. EverSource Wealth Advisors LLC now owns 2,685 shares of the biopharmaceutical company's stock worth $140,000 after acquiring an additional 174 shares during the last quarter. Finally, Baird Financial Group Inc. boosted its position in shares of Halozyme Therapeutics by 6.2% during the second quarter. Baird Financial Group Inc. now owns 11,090 shares of the biopharmaceutical company's stock worth $577,000 after acquiring an additional 650 shares during the last quarter. 97.79% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

HALO has been the subject of a number of research reports. Wall Street Zen lowered shares of Halozyme Therapeutics from a "strong-buy" rating to a "hold" rating in a research report on Saturday, February 21st. Wells Fargo & Company upped their target price on shares of Halozyme Therapeutics from $65.00 to $75.00 and gave the stock an "equal weight" rating in a research report on Thursday, February 19th. Benchmark upped their target price on shares of Halozyme Therapeutics from $75.00 to $90.00 and gave the stock a "buy" rating in a research report on Thursday, February 19th. Weiss Ratings lowered shares of Halozyme Therapeutics from a "buy (b-)" rating to a "hold (c)" rating in a research report on Tuesday, February 24th. Finally, HC Wainwright restated a "buy" rating on shares of Halozyme Therapeutics in a research report on Thursday, January 29th. Six investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $78.56.

Halozyme Therapeutics Price Performance

Shares of NASDAQ:HALO opened at $68.41 on Wednesday. The company has a debt-to-equity ratio of 43.89, a quick ratio of 3.66 and a current ratio of 4.66. The firm has a fifty day moving average price of $67.86 and a 200 day moving average price of $68.64. Halozyme Therapeutics, Inc. has a fifty-two week low of $47.50 and a fifty-two week high of $82.22. The firm has a market cap of $8.10 billion, a price-to-earnings ratio of 27.47, a P/E/G ratio of 0.28 and a beta of 1.03.

Halozyme Therapeutics (NASDAQ:HALO - Get Free Report) last issued its earnings results 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). The company had revenue of $451.77 million for the quarter, compared to the consensus estimate of $446.13 million. Halozyme Therapeutics had a return on equity of 136.12% and a net margin of 22.69%.Halozyme Therapeutics's revenue was up 51.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.26 EPS. As a group, sell-side analysts expect that Halozyme Therapeutics, Inc. will post 7.74 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, COO Cortney Caudill sold 8,857 shares of the company's stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of $67.64, for a total transaction of $599,087.48. Following the sale, the chief operating officer owned 7,055 shares of the company's stock, valued at $477,200.20. This represents a 55.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Helen Torley sold 10,000 shares of the company's stock in a transaction on Monday, April 6th. The shares were sold at an average price of $63.50, for a total transaction of $635,000.00. Following the sale, the chief executive officer directly owned 767,780 shares in the company, valued at approximately $48,754,030. The trade was a 1.29% 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 ninety days, insiders have sold 118,857 shares of company stock worth $8,279,587. 2.50% of the stock is owned by insiders.

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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