Element Squared LLC Invests $1.19 Million in Halozyme Therapeutics, Inc. $HALO

Key Points

• Element Squared LLC bought a new position of 17,726 shares of Halozyme (NASDAQ:HALO) in Q4, valued at about $1.19 million.
• Company insiders have been net sellers — CEO Helen Torley sold 20,000 shares for roughly $1.28 million under a Rule 10b5-1 plan, and insiders sold 110,857 shares (~$7.79 million) over the past three months.
• Halozyme missed EPS expectations (reported ‑$0.24 vs. $1.92 expected) while revenue rose 51.6% to $451.77 million; the stock has a market cap near $7.6 billion and an average analyst price target of $78.56.

Element Squared LLC bought a new position in shares of Halozyme Therapeutics, Inc. (NASDAQ:HALO - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 17,726 shares of the biopharmaceutical company's stock, valued at approximately $1,193,000.

Several other large investors have also recently bought and sold shares of the stock. Root Financial Partners LLC bought a new stake in Halozyme Therapeutics in the 3rd quarter valued at $25,000. Larson Financial Group LLC increased its holdings in shares of Halozyme Therapeutics by 3,118.2% during the 3rd quarter. Larson Financial Group LLC now owns 354 shares of the biopharmaceutical company's stock worth $26,000 after purchasing an additional 343 shares during the period. Richardson Financial Services Inc. raised its position in shares of Halozyme Therapeutics by 87.6% during the third quarter. Richardson Financial Services Inc. now owns 424 shares of the biopharmaceutical company's stock valued at $31,000 after buying an additional 198 shares during the last quarter. Newbridge Financial Services Group Inc. acquired a new position in shares of Halozyme Therapeutics during the second quarter valued at about $32,000. Finally, Clearstead Advisors LLC lifted its stake in shares of Halozyme Therapeutics by 107.7% in the third quarter. Clearstead Advisors LLC now owns 511 shares of the biopharmaceutical company's stock valued at $37,000 after buying an additional 265 shares during the period. 97.79% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Halozyme Therapeutics

In related news, CEO Helen Torley sold 20,000 shares of the stock in a transaction dated Thursday, April 2nd. The shares were sold at an average price of $64.24, for a total transaction of $1,284,800.00. Following the completion of the sale, the chief executive officer owned 767,780 shares in the company, valued at $49,322,187.20. This trade represents a 2.54% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Bernadette Connaughton sold 2,000 shares of Halozyme Therapeutics stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $70.25, for a total transaction of $140,500.00. Following the transaction, the director directly owned 40,123 shares of the company's stock, valued at $2,818,640.75. This represents a 4.75% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 110,857 shares of company stock valued at $7,785,087. 2.40% of the stock is currently owned by company insiders.

Halozyme Therapeutics Price Performance

Shares of HALO opened at $64.49 on Friday. The stock has a market cap of $7.64 billion, a price-to-earnings ratio of 25.90, a P/E/G ratio of 0.26 and a beta of 1.03. The company has a quick ratio of 3.66, a current ratio of 4.66 and a debt-to-equity ratio of 43.89. Halozyme Therapeutics, Inc. has a 12 month low of $47.50 and a 12 month high of $82.22. The company has a 50-day moving average price of $69.94 and a two-hundred day moving average price of $69.38.

Halozyme Therapeutics (NASDAQ:HALO - Get Free Report) last released its quarterly earnings data on Tuesday, February 17th. The biopharmaceutical company reported ($0.24) earnings per share for the quarter, missing the consensus estimate of $1.92 by ($2.16). The company had revenue of $451.77 million during the quarter, compared to the consensus estimate of $446.13 million. Halozyme Therapeutics had a net margin of 22.69% and a return on equity of 136.12%. The company's revenue for the quarter was up 51.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.26 earnings per share. Equities analysts predict that Halozyme Therapeutics, Inc. will post 4.73 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on HALO shares. Wells Fargo & Company lifted their target price on Halozyme Therapeutics from $65.00 to $75.00 and gave the stock an "equal weight" rating in a research report on Thursday, February 19th. Wall Street Zen cut Halozyme Therapeutics from a "strong-buy" rating to a "hold" rating in a report on Saturday, February 21st. Benchmark raised their price objective on Halozyme Therapeutics from $75.00 to $90.00 and gave the stock a "buy" rating in a research report on Thursday, February 19th. HC Wainwright restated a "buy" rating on shares of Halozyme Therapeutics in a research report on Thursday, January 29th. Finally, TD Cowen restated a "buy" rating on shares of Halozyme Therapeutics in a research note on Wednesday, February 18th. Six investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Halozyme Therapeutics presently has an average rating of "Hold" and an average price target of $78.56.

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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