Cutter Capital Management LP Takes $7.66 Million Position in Halozyme Therapeutics, Inc. $HALO

Key Points

• Cutter Capital Management LP has invested approximately $7.66 million in Halozyme Therapeutics, acquiring 120,000 shares, making it the firm's 16th largest position.
• Several institutional investors, including Alliancebernstein and Congress Asset Management, have also increased their holdings in Halozyme, indicating strong institutional interest in the company.
• Halozyme recently reported $1.54 earnings per share for the last quarter, surpassing estimates, with a 40.8% increase in revenue year-over-year.

Cutter Capital Management LP purchased a new stake in shares of Halozyme Therapeutics, Inc. (NASDAQ:HALO - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 120,000 shares of the biopharmaceutical company's stock, valued at approximately $7,657,000. Halozyme Therapeutics accounts for about 3.3% of Cutter Capital Management LP's holdings, making the stock its 16th largest position. Cutter Capital Management LP owned about 0.10% of Halozyme Therapeutics at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Isthmus Partners LLC raised its position in Halozyme Therapeutics by 2.5% during the 1st quarter. Isthmus Partners LLC now owns 6,875 shares of the biopharmaceutical company's stock worth $439,000 after buying an additional 169 shares during the last quarter. OneDigital Investment Advisors LLC lifted its holdings 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 valued at $649,000 after acquiring an additional 175 shares during the period. Park Place Capital Corp lifted its holdings 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 acquiring an additional 182 shares during the period. Xponance Inc. lifted its holdings in Halozyme Therapeutics by 1.1% in 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. lifted its holdings in Halozyme Therapeutics by 62.9% in the first quarter. Bessemer Group Inc. now owns 536 shares of the biopharmaceutical company's stock valued at $34,000 after acquiring an additional 207 shares during the period. Hedge funds and other institutional investors own 97.79% of the company's stock.

Halozyme Therapeutics Trading Up 1.2%

HALO traded up $0.92 during mid-day trading on Monday, hitting $75.85. 1,827,452 shares of the stock were exchanged, compared to its average volume of 1,974,138. The company has a current ratio of 8.36, a quick ratio of 7.01 and a debt-to-equity ratio of 4.54. The company has a market cap of $8.87 billion, a PE ratio of 17.36, a PEG ratio of 0.41 and a beta of 1.19. The firm's fifty day moving average is $62.80 and its two-hundred day moving average is $59.84. Halozyme Therapeutics, Inc. has a 1-year low of $42.01 and a 1-year high of $76.28.

Halozyme Therapeutics (NASDAQ:HALO - Get Free Report) last posted its quarterly 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 for 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%.Halozyme Therapeutics's revenue for the quarter was up 40.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.91 EPS. Halozyme Therapeutics has set its FY 2025 guidance at 6.000-6.400 EPS. Equities analysts forecast that Halozyme Therapeutics, Inc. will post 4.73 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have issued reports on HALO. JPMorgan Chase & Co. boosted their price target on Halozyme Therapeutics from $60.00 to $63.00 and gave the company a "neutral" rating in a report on Thursday, August 7th. Leerink Partnrs downgraded Halozyme Therapeutics from a "hold" rating to a "strong sell" rating in a report on Tuesday, May 13th. JMP Securities upped their target price on Halozyme Therapeutics from $78.00 to $91.00 and gave the stock a "market outperform" rating in a research note on Wednesday, August 6th. The Goldman Sachs Group began coverage on Halozyme Therapeutics in a research note on Thursday, July 10th. They issued a "neutral" rating and a $55.00 price target on the stock. Finally, HC Wainwright upped their price target on Halozyme Therapeutics from $72.00 to $75.00 and gave the company a "buy" rating in a research note on Wednesday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $67.11.

Insider Transactions at Halozyme Therapeutics

In other Halozyme Therapeutics news, CEO Helen Torley sold 20,000 shares of the stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $74.44, for a total value of $1,488,800.00. Following the sale, the chief executive officer owned 733,719 shares of the company's stock, valued at $54,618,042.36. This trade represents a 2.65% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Bernadette Connaughton sold 4,000 shares of the stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $73.68, for a total value of $294,720.00. Following the completion of the sale, the director directly owned 46,952 shares in the company, valued at $3,459,423.36. This represents a 7.85% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 104,000 shares of company stock worth $6,316,120 in the last ninety days. 2.90% of the stock is owned by corporate insiders.

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.