Goldman Sachs Group Inc. Sells 331,718 Shares of Halozyme Therapeutics, Inc. $HALO

Key Points

• Goldman Sachs Group Inc. has reduced its stake in Halozyme Therapeutics by 17.9%, selling 331,718 shares and now holding approximately 1.23% of the company worth $96.9 million.
• Several institutional investors have also changed their positions in Halozyme, with notable increases from Bessemer Group Inc. and Brooklyn Investment Group, increasing their stakes significantly in the first quarter.
• Halozyme Therapeutics reported strong earnings with an EPS of $1.54, surpassing expectations, and has set a FY 2025 EPS guidance between 6.000-6.400.

Goldman Sachs Group Inc. lessened its position in Halozyme Therapeutics, Inc. (NASDAQ:HALO - Free Report) by 17.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,518,915 shares of the biopharmaceutical company's stock after selling 331,718 shares during the period. Goldman Sachs Group Inc. owned about 1.23% of Halozyme Therapeutics worth $96,922,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in HALO. Heck Capital Advisors LLC bought a new position in shares of Halozyme Therapeutics in the fourth quarter worth approximately $29,000. Wealth Preservation Advisors LLC bought a new position in shares of Halozyme Therapeutics in the first quarter worth approximately $32,000. SVB Wealth LLC bought a new position in shares of Halozyme Therapeutics in the first quarter worth approximately $33,000. Bessemer Group Inc. lifted its stake in shares of Halozyme Therapeutics by 62.9% in the first quarter. Bessemer Group Inc. now owns 536 shares of the biopharmaceutical company's stock worth $34,000 after buying an additional 207 shares in the last quarter. Finally, Brooklyn Investment Group lifted its stake in shares of Halozyme Therapeutics by 1,558.1% in the first quarter. Brooklyn Investment Group now owns 713 shares of the biopharmaceutical company's stock worth $45,000 after buying an additional 670 shares in the last quarter. Institutional investors own 97.79% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Zacks Research raised shares of Halozyme Therapeutics from a "hold" rating to a "strong-buy" rating in a report on Tuesday, September 2nd. Wall Street Zen cut shares of Halozyme Therapeutics from a "strong-buy" rating to a "buy" rating in a report on Friday, September 5th. Morgan Stanley boosted their price objective on shares of Halozyme Therapeutics from $75.00 to $80.00 and gave the company an "overweight" rating in a report on Monday, August 18th. JMP Securities boosted their price objective on shares of Halozyme Therapeutics from $78.00 to $91.00 and gave the company a "market outperform" rating in a report on Wednesday, August 6th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Halozyme Therapeutics from $60.00 to $63.00 and gave the company a "neutral" rating in a report on Thursday, August 7th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, five have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, Halozyme Therapeutics currently has a consensus rating of "Hold" and a consensus price target of $67.11.

Insider Buying and Selling at Halozyme Therapeutics

In other Halozyme Therapeutics news, CFO Nicole Labrosse sold 20,000 shares of the company's stock in a transaction that occurred on Wednesday, September 10th. The shares were sold at an average price of $75.71, for a total transaction of $1,514,200.00. Following the completion of the sale, the chief financial officer directly owned 24,306 shares of the company's stock, valued at approximately $1,840,207.26. This represents a 45.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Helen Torley sold 20,000 shares of the company's stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $74.44, for a total transaction of $1,488,800.00. Following the sale, the chief executive officer directly owned 733,719 shares of the company's stock, valued at approximately $54,618,042.36. This represents a 2.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 124,000 shares of company stock valued at $7,830,320. Insiders own 2.40% of the company's stock.

Halozyme Therapeutics Stock Down 0.8%

Shares of HALO stock opened at $76.90 on Friday. Halozyme Therapeutics, Inc. has a 12 month low of $42.01 and a 12 month high of $77.60. The stock has a market cap of $8.99 billion, a P/E ratio of 17.60, a P/E/G ratio of 0.43 and a beta of 1.19. 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 50 day simple moving average of $65.11 and a two-hundred day simple moving average of $60.45.

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