Federated Hermes Inc. Sells 29,856 Shares of Halozyme Therapeutics, Inc. (NASDAQ:HALO)

Key Points

• Federated Hermes Inc. reduced its stake in Halozyme Therapeutics by 7.7%, selling 29,856 shares and now holding about 359,537 shares valued at $22.9 million.
• CEO Helen Torley sold 20,000 shares valued at $1.13 million, resulting in a 2.65% decrease in her ownership of the company.
• Wall Street analysts have mixed ratings on Halozyme Therapeutics, with a consensus average rating of "Hold" and an average price target of $62.70.

Federated Hermes Inc. decreased its position in Halozyme Therapeutics, Inc. (NASDAQ:HALO - Free Report) by 7.7% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 359,537 shares of the biopharmaceutical company's stock after selling 29,856 shares during the quarter. Federated Hermes Inc. owned about 0.29% of Halozyme Therapeutics worth $22,942,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the company. Snyder Capital Management L P lifted its holdings in Halozyme Therapeutics by 2.6% in the 4th quarter. Snyder Capital Management L P now owns 4,168,453 shares of the biopharmaceutical company's stock worth $199,294,000 after purchasing an additional 105,086 shares during the last quarter. Congress Asset Management Co. lifted its holdings in Halozyme Therapeutics by 8.8% in the 1st quarter. Congress Asset Management Co. now owns 2,132,707 shares of the biopharmaceutical company's stock worth $136,088,000 after purchasing an additional 172,971 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Halozyme Therapeutics by 2.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,933,560 shares of the biopharmaceutical company's stock worth $92,446,000 after purchasing an additional 47,795 shares during the last quarter. Northern Trust Corp lifted its holdings in Halozyme Therapeutics by 8.7% in the 4th quarter. Northern Trust Corp now owns 1,827,771 shares of the biopharmaceutical company's stock worth $87,386,000 after purchasing an additional 145,617 shares during the last quarter. Finally, TD Asset Management Inc lifted its holdings in Halozyme Therapeutics by 5.8% in the 1st quarter. TD Asset Management Inc now owns 1,451,842 shares of the biopharmaceutical company's stock worth $92,642,000 after purchasing an additional 79,708 shares during the last quarter. Institutional investors own 97.79% of the company's stock.

Insiders Place Their Bets

In other Halozyme Therapeutics news, CEO Helen Torley sold 20,000 shares of the company'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 sale, the chief executive officer directly owned 733,719 shares in the company, valued at $41,403,763.17. This represents a 2.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders sold 60,000 shares of company stock valued at $3,262,400 in the last quarter. Corporate insiders own 2.40% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on HALO. Leerink Partnrs lowered Halozyme Therapeutics from a "hold" rating to a "strong sell" rating in a report on Tuesday, May 13th. JPMorgan Chase & Co. upped their price target on Halozyme Therapeutics from $58.00 to $60.00 and gave the stock a "neutral" rating in a report on Wednesday, July 16th. Morgan Stanley lowered Halozyme Therapeutics from an "overweight" rating to an "equal weight" rating and cut their price target for the stock from $73.00 to $62.00 in a report on Wednesday, May 14th. The Goldman Sachs Group initiated coverage on Halozyme Therapeutics in a report on Thursday, July 10th. They set a "neutral" rating and a $55.00 price target for the company. Finally, Benchmark lowered Halozyme Therapeutics from a "strong-buy" rating to a "hold" rating in a report on Wednesday, May 7th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $62.70.

Halozyme Therapeutics Stock Performance

Shares of NASDAQ:HALO opened at $59.97 on Friday. The business's fifty day moving average price is $55.08 and its two-hundred day moving average price is $57.63. Halozyme Therapeutics, Inc. has a fifty-two week low of $42.01 and a fifty-two week high of $70.50. The stock has a market capitalization of $7.39 billion, a price-to-earnings ratio of 15.95, a price-to-earnings-growth ratio of 0.40 and a beta of 1.15. The company has a debt-to-equity ratio of 3.13, a current ratio of 8.39 and a quick ratio of 7.30.

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 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 firm had revenue of $264.86 million for the quarter, compared to analysts' expectations of $231.21 million. During the same period in the prior year, the business posted $0.79 earnings per share. The business's revenue was up 35.2% compared to the same quarter last year. As a group, analysts predict 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.

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