Halozyme Therapeutics, Inc. $HALO Holdings Lowered by Ruffer LLP

Key Points

• Ruffer LLP has reduced its stake in Halozyme Therapeutics by 13.9%, selling 6,986 shares, which left them with 43,428 shares now valued at approximately $2.25 million.
• Insider transactions saw CEO Helen Torley and CFO Nicole Labrosse each selling 20,000 shares, resulting in a respective decrease of 2.65% and 45.14% in their ownership stakes.
• Wall Street analysts have varying outlooks on Halozyme, with current forecasts suggesting a consensus price target of $69.89 and reports of positive quarterly earnings that exceeded estimates.

Ruffer LLP trimmed its stake in shares of Halozyme Therapeutics, Inc. (NASDAQ:HALO - Free Report) by 13.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 43,428 shares of the biopharmaceutical company's stock after selling 6,986 shares during the quarter. Ruffer LLP's holdings in Halozyme Therapeutics were worth $2,259,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Heck Capital Advisors LLC purchased a new position in Halozyme Therapeutics during the fourth quarter valued at approximately $29,000. Wealth Preservation Advisors LLC acquired a new position in shares of Halozyme Therapeutics in the 1st quarter valued at $32,000. SVB Wealth LLC bought a new stake in shares of Halozyme Therapeutics in the 1st quarter worth about $33,000. Bessemer Group Inc. grew its holdings in shares of Halozyme Therapeutics by 62.9% in the 1st quarter. Bessemer Group Inc. now owns 536 shares of the biopharmaceutical company's stock worth $34,000 after purchasing an additional 207 shares during the last quarter. Finally, Brooklyn Investment Group grew its holdings in Halozyme Therapeutics by 1,558.1% during the 1st quarter. Brooklyn Investment Group now owns 713 shares of the biopharmaceutical company's stock worth $45,000 after acquiring an additional 670 shares during the last quarter. 97.79% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Halozyme Therapeutics

In related news, CEO Helen Torley sold 20,000 shares of the stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $63.51, for a total value of $1,270,200.00. Following the completion of the sale, the chief executive officer directly owned 733,719 shares of the company's stock, valued at approximately $46,598,493.69. This represents a 2.65% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Nicole Labrosse sold 20,000 shares of the stock in a transaction on Wednesday, September 10th. The shares were sold at an average price of $75.71, for a total value 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 $1,840,207.26. The trade was a 45.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 86,227 shares of company stock valued at $5,870,115 over the last ninety days. 2.40% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on HALO. Benchmark upped their target price on shares of Halozyme Therapeutics from $75.00 to $90.00 and gave the company a "buy" rating in a research report on Wednesday. The Goldman Sachs Group began coverage on shares of Halozyme Therapeutics in a research note on Thursday, July 10th. They issued a "neutral" rating and a $55.00 target price for the company. JPMorgan Chase & Co. lifted their price objective on shares of Halozyme Therapeutics from $60.00 to $63.00 and gave the stock a "neutral" rating in a research report on Thursday, August 7th. HC Wainwright lifted their target price on Halozyme Therapeutics from $75.00 to $85.00 and gave the stock a "buy" rating in a report on Monday. Finally, Wall Street Zen downgraded Halozyme Therapeutics from a "strong-buy" rating to a "buy" rating in a research note on Friday, September 5th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $69.89.

Halozyme Therapeutics Price Performance

Halozyme Therapeutics stock opened at $75.64 on Thursday. The stock has a market capitalization of $8.85 billion, a price-to-earnings ratio of 17.31, a PEG ratio of 0.43 and a beta of 1.19. Halozyme Therapeutics, Inc. has a 52-week low of $42.01 and a 52-week high of $79.50. The stock's 50 day moving average price is $68.31 and its two-hundred day moving average price is $61.43. The company has a debt-to-equity ratio of 4.54, a quick ratio of 7.01 and a current ratio of 8.36.

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, topping analysts' consensus estimates of $1.23 by $0.31. Halozyme Therapeutics had a return on equity of 150.85% and a net margin of 47.28%.The firm had revenue of $325.72 million for the quarter, compared to analysts' expectations of $282.66 million. During the same period in the prior year, the business earned $0.91 EPS. The company's revenue for the quarter was up 40.8% compared to the same quarter last year. Halozyme Therapeutics has set its FY 2025 guidance at 6.000-6.400 EPS. On average, equities analysts predict that Halozyme Therapeutics, Inc. will post 4.73 earnings per share for the current year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.