Halozyme Therapeutics, Inc. $HALO Holdings Lowered by Corebridge Financial Inc.

Key Points

• Corebridge Financial Inc. reduced its holdings in Halozyme Therapeutics by 2.1%, owning 200,787 shares worth approximately $12.8 million as of the first quarter.
• Halozyme's recent earnings report showed $1.54 earnings per share, surpassing analysts' estimates significantly and marking a 40.8% increase in revenue year-over-year.
• Despite overall positive performance, analysts have mixed ratings on the stock, with consensus being a "Hold" and a target price of $67.11.

Corebridge Financial Inc. trimmed its stake in shares of Halozyme Therapeutics, Inc. (NASDAQ:HALO - Free Report) by 2.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 200,787 shares of the biopharmaceutical company's stock after selling 4,312 shares during the quarter. Corebridge Financial Inc. owned approximately 0.16% of Halozyme Therapeutics worth $12,812,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Penserra Capital Management LLC bought a new stake in Halozyme Therapeutics during the first quarter valued at $125,000. Bessemer Group Inc. increased its stake in Halozyme Therapeutics by 62.9% during the first quarter. Bessemer Group Inc. now owns 536 shares of the biopharmaceutical company's stock valued at $34,000 after purchasing an additional 207 shares during the last quarter. D. E. Shaw & Co. Inc. increased its stake in Halozyme Therapeutics by 171.2% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 831,414 shares of the biopharmaceutical company's stock valued at $39,750,000 after purchasing an additional 524,802 shares during the last quarter. Fifth Third Bancorp increased its stake in Halozyme Therapeutics by 29.4% during the first quarter. Fifth Third Bancorp now owns 10,017 shares of the biopharmaceutical company's stock valued at $639,000 after purchasing an additional 2,276 shares during the last quarter. Finally, GAMMA Investing LLC increased its stake in Halozyme Therapeutics by 199.0% during the first quarter. GAMMA Investing LLC now owns 2,802 shares of the biopharmaceutical company's stock valued at $179,000 after purchasing an additional 1,865 shares during the last quarter. Institutional investors own 97.79% of the company's stock.

Insider Activity at Halozyme Therapeutics

In other news, CEO Helen Torley sold 20,000 shares of the company's stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $63.51, for a total transaction 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 $46,598,493.69. This represents a 2.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders sold 80,000 shares of company stock worth $4,532,600 over the last three months. Corporate insiders own 2.90% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. HC Wainwright boosted their price target on shares of Halozyme Therapeutics from $72.00 to $75.00 and gave the company a "buy" rating in a report on Wednesday, August 6th. Leerink Partners downgraded shares of Halozyme Therapeutics from a "market perform" rating to an "underperform" rating and set a $47.00 price target for the company. in a report on Tuesday, May 13th. JMP Securities boosted their price target 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. The Goldman Sachs Group assumed coverage on shares of Halozyme Therapeutics in a report on Thursday, July 10th. They set a "neutral" rating and a $55.00 price target for the company. Finally, Leerink Partnrs downgraded shares of Halozyme Therapeutics from a "hold" rating to a "strong sell" rating in a report on Tuesday, May 13th. Four analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, Halozyme Therapeutics has an average rating of "Hold" and a consensus target price of $67.11.

Halozyme Therapeutics Price Performance

NASDAQ HALO traded up $0.34 on Monday, reaching $73.15. The company's stock had a trading volume of 1,163,957 shares, compared to its average volume of 2,229,040. Halozyme Therapeutics, Inc. has a twelve month low of $42.01 and a twelve month high of $74.07. The company has a debt-to-equity ratio of 4.54, a quick ratio of 7.01 and a current ratio of 8.36. The stock has a market cap of $8.56 billion, a PE ratio of 16.74, a PEG ratio of 0.42 and a beta of 1.19. The firm's 50 day moving average is $61.09 and its two-hundred day moving average is $59.39.

Halozyme Therapeutics (NASDAQ:HALO - Get Free Report) last issued its 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 business had revenue of $325.72 million for the quarter, compared to analysts' expectations of $282.66 million. During the same period in the previous year, the firm posted $0.91 EPS. The company's quarterly 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. As a group, sell-side analysts predict that Halozyme Therapeutics, Inc. will post 4.73 EPS 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.