Cresset Asset Management LLC Has $19.55 Million Stock Position in Halozyme Therapeutics, Inc. $HALO

Key Points

• Cresset Asset Management LLC reduced its stake in Halozyme Therapeutics by 8.1%, owning 306,371 shares valued at $19.55 million.
• Research analysts have issued mixed ratings for HALO, with two sell ratings, five hold ratings, and four buy ratings, resulting in a consensus rating of "Hold" and an average price target of $66.56.
• Halozyme Therapeutics reported earnings of $1.54 per share for the last quarter, significantly exceeding analyst expectations and reflecting a 40.8% year-over-year revenue increase.

Cresset Asset Management LLC lowered its position in Halozyme Therapeutics, Inc. (NASDAQ:HALO - Free Report) by 8.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 306,371 shares of the biopharmaceutical company's stock after selling 26,963 shares during the quarter. Cresset Asset Management LLC owned 0.25% of Halozyme Therapeutics worth $19,550,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in HALO. Raymond James Financial Inc. purchased a new stake in shares of Halozyme Therapeutics during the fourth quarter worth about $21,838,000. Marshall Wace LLP purchased a new position in Halozyme Therapeutics in the fourth quarter valued at about $212,000. Canada Pension Plan Investment Board grew its stake in Halozyme Therapeutics by 77.8% during the 4th quarter. Canada Pension Plan Investment Board now owns 178,200 shares of the biopharmaceutical company's stock valued at $8,520,000 after purchasing an additional 78,000 shares in the last quarter. Alpha DNA Investment Management LLC grew its position in shares of Halozyme Therapeutics by 7.4% during the fourth quarter. Alpha DNA Investment Management LLC now owns 10,109 shares of the biopharmaceutical company's stock worth $483,000 after buying an additional 695 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of Halozyme Therapeutics by 2.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,933,560 shares of the biopharmaceutical company's stock worth $92,446,000 after buying an additional 47,795 shares during the last quarter. 97.79% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CEO Helen Torley sold 20,000 shares of the firm's stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $63.51, for a total transaction of $1,270,200.00. Following the completion of the sale, the chief executive officer directly owned 733,719 shares in the company, valued at approximately $46,598,493.69. This trade represents a 2.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders have sold 80,000 shares of company stock worth $4,532,600 in the last ninety days. Company insiders own 2.90% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have commented on HALO. Benchmark downgraded shares of Halozyme Therapeutics from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, May 7th. The Goldman Sachs Group initiated coverage on Halozyme Therapeutics in a research note on Thursday, July 10th. They set a "neutral" rating and a $55.00 price objective for the company. Morgan Stanley raised their price target on shares of Halozyme Therapeutics from $75.00 to $80.00 and gave the company an "overweight" rating in a research note on Monday. HC Wainwright boosted their price objective on Halozyme Therapeutics from $72.00 to $75.00 and gave the stock a "buy" rating in a research report on Wednesday, August 6th. Finally, 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 report on Tuesday, May 13th. Four research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $67.11.

Halozyme Therapeutics Price Performance

Shares of Halozyme Therapeutics stock traded up $1.15 on Wednesday, hitting $71.13. The company had a trading volume of 1,891,343 shares, compared to its average volume of 1,963,434. Halozyme Therapeutics, Inc. has a 52 week low of $42.01 and a 52 week high of $71.21. The company has a market cap of $8.32 billion, a PE ratio of 16.28, a PEG ratio of 0.38 and a beta of 1.17. The business has a 50-day simple moving average of $57.68 and a 200-day simple moving average of $58.44. The company has a debt-to-equity ratio of 4.54, a current ratio of 8.36 and a quick ratio of 7.01.

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

About Halozyme Therapeutics

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.