Convergence Investment Partners LLC Reduces Stock Position in Halozyme Therapeutics, Inc. (NASDAQ:HALO)

Convergence Investment Partners LLC trimmed its stake in Halozyme Therapeutics, Inc. (NASDAQ:HALO - Free Report) by 17.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,539 shares of the biopharmaceutical company's stock after selling 6,174 shares during the period. Convergence Investment Partners LLC's holdings in Halozyme Therapeutics were worth $1,821,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of HALO. Norges Bank purchased a new stake in Halozyme Therapeutics in the 4th quarter worth $60,054,000. Capital World Investors purchased a new stake in Halozyme Therapeutics in the 4th quarter worth $35,773,000. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Halozyme Therapeutics by 141.3% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 992,887 shares of the biopharmaceutical company's stock valued at $47,470,000 after purchasing an additional 581,475 shares during the last quarter. D. E. Shaw & Co. Inc. boosted its holdings in shares of Halozyme Therapeutics by 171.2% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 831,414 shares of the biopharmaceutical company's stock valued at $39,750,000 after purchasing an additional 524,802 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new position in shares of Halozyme Therapeutics during the 4th quarter valued at about $21,838,000. Hedge funds and other institutional investors own 97.79% of the company's stock.

Halozyme Therapeutics Stock Down 0.9%

Shares of NASDAQ:HALO traded down $0.53 on Friday, reaching $58.24. The company had a trading volume of 1,095,721 shares, compared to its average volume of 1,937,576. Halozyme Therapeutics, Inc. has a 52-week low of $42.01 and a 52-week high of $70.50. The firm's 50 day simple moving average is $54.63 and its 200-day simple moving average is $57.46. The firm has a market capitalization of $7.18 billion, a PE ratio of 15.49, a PEG ratio of 0.39 and a beta of 1.15. The company has a current ratio of 8.39, a quick ratio of 7.30 and a debt-to-equity ratio of 3.13.

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

Wall Street Analysts Forecast Growth

Several research analysts have commented on HALO shares. The Goldman Sachs Group started coverage on shares of Halozyme Therapeutics in a report on Thursday, July 10th. They set a "neutral" rating and a $55.00 price objective for the company. HC Wainwright reissued a "buy" rating and set a $72.00 price target on shares of Halozyme Therapeutics in a research note on Thursday, May 29th. Benchmark lowered Halozyme Therapeutics from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, May 7th. Morgan Stanley lowered Halozyme Therapeutics from an "overweight" rating to an "equal weight" rating and decreased their price target for the stock from $73.00 to $62.00 in a research note on Wednesday, May 14th. Finally, JPMorgan Chase & Co. raised their price target on Halozyme Therapeutics from $58.00 to $60.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 16th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $62.70.

Insider Buying and Selling at Halozyme Therapeutics

In related news, Director Jeffrey William Henderson sold 4,497 shares of the business's stock in a transaction on Monday, April 28th. The stock was sold at an average price of $60.37, for a total transaction of $271,483.89. Following the transaction, the director directly owned 28,611 shares in the company, valued at $1,727,246.07. The trade was a 13.58% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Helen Torley sold 20,000 shares of the business's stock in a transaction on 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 transaction, the chief executive officer owned 733,719 shares in the company, valued at approximately $41,403,763.17. This trade represents 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 have sold 64,497 shares of company stock worth $3,533,884. 2.40% of the stock is owned by company insiders.

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.