Congress Asset Management Co. Sells 297,296 Shares of Halozyme Therapeutics, Inc. $HALO

Key Points

• Congress Asset Management Co. reduced its stake in Halozyme Therapeutics by 13.9%, selling 297,296 shares, leaving it with 1,835,411 shares valued at approximately $95.5 million.
• CEO Helen Torley and CFO Nicole Labrosse both sold shares recently, with Torley selling 20,000 shares for $1.49 million and Labrosse selling 2,227 shares for $173,595.
• A range of Wall Street analysts have revised their ratings for Halozyme Therapeutics, with targets increasing, indicating a general optimism about the company’s growth potential.

Congress Asset Management Co. lessened its stake in Halozyme Therapeutics, Inc. (NASDAQ:HALO - Free Report) by 13.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,835,411 shares of the biopharmaceutical company's stock after selling 297,296 shares during the period. Congress Asset Management Co. owned about 1.49% of Halozyme Therapeutics worth $95,478,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Wealth Preservation Advisors LLC bought a new stake in shares of Halozyme Therapeutics in the 1st quarter worth approximately $32,000. SVB Wealth LLC acquired a new position in shares of Halozyme Therapeutics in the first quarter valued at $33,000. Bessemer Group Inc. lifted its position in Halozyme Therapeutics by 62.9% in the first quarter. Bessemer Group Inc. now owns 536 shares of the biopharmaceutical company's stock worth $34,000 after purchasing an additional 207 shares during the period. Brooklyn Investment Group lifted its position in Halozyme Therapeutics by 1,558.1% in the first quarter. Brooklyn Investment Group now owns 713 shares of the biopharmaceutical company's stock worth $45,000 after purchasing an additional 670 shares during the period. Finally, Park Place Capital Corp boosted its stake in Halozyme Therapeutics by 20.1% during the first quarter. Park Place Capital Corp now owns 1,086 shares of the biopharmaceutical company's stock worth $69,000 after buying an additional 182 shares in the last quarter. 97.79% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Helen Torley sold 20,000 shares of the firm's stock in a transaction on 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 completion of the transaction, the chief executive officer directly owned 733,719 shares of the company's stock, valued at approximately $54,618,042.36. This trade represents a 2.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Nicole Labrosse sold 2,227 shares of the company's stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $77.95, for a total transaction of $173,594.65. Following the sale, the chief financial officer directly owned 22,079 shares in the company, valued at $1,721,058.05. This trade represents a 9.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 86,227 shares of company stock valued at $5,870,115. 2.40% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

HALO has been the topic of several analyst reports. Wall Street Zen lowered shares of Halozyme Therapeutics from a "strong-buy" rating to a "buy" rating in a report on Friday, September 5th. Benchmark lifted their target price on shares of Halozyme Therapeutics from $75.00 to $90.00 and gave the company a "buy" rating in a research report on Wednesday. JMP Securities increased their price target on shares of Halozyme Therapeutics from $78.00 to $91.00 and gave the stock a "market outperform" rating in a research report on Wednesday, August 6th. JPMorgan Chase & Co. lifted their price objective on Halozyme Therapeutics from $60.00 to $63.00 and gave the company a "neutral" rating in a report on Thursday, August 7th. Finally, Morgan Stanley increased their target price on Halozyme Therapeutics from $75.00 to $80.00 and gave the stock an "overweight" rating in a report on Monday, August 18th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat.com, Halozyme Therapeutics presently has an average rating of "Hold" and a consensus price target of $69.89.

Halozyme Therapeutics Price Performance

NASDAQ:HALO opened at $73.97 on Friday. The company has a quick ratio of 7.01, a current ratio of 8.36 and a debt-to-equity ratio of 4.54. The firm has a market cap of $8.65 billion, a PE ratio of 16.93, a price-to-earnings-growth ratio of 0.42 and a beta of 1.19. Halozyme Therapeutics, Inc. has a 12 month low of $42.01 and a 12 month high of $79.50. The company's 50-day moving average price is $68.64 and its two-hundred day moving average price is $61.52.

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

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