Halozyme Therapeutics, Inc. $HALO Shares Sold by Fifth Third Bancorp

Key Points

• Fifth Third Bancorp reduced its stake in Halozyme Therapeutics by 41.6%, selling 4,165 shares, and now holds 5,852 shares valued at approximately $304,000.
• The company reported a 40.8% year-over-year increase in revenue, totaling $325.72 million for the most recent quarter, significantly surpassing the consensus estimate.
• Analysts have raised price targets for Halozyme Therapeutics, with Morgan Stanley setting a target of $80.00 and Benchmark increasing it to $90.00, reflecting positive sentiment on the stock.

Fifth Third Bancorp lessened its holdings in shares of Halozyme Therapeutics, Inc. (NASDAQ:HALO - Free Report) by 41.6% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 5,852 shares of the biopharmaceutical company's stock after selling 4,165 shares during the period. Fifth Third Bancorp's holdings in Halozyme Therapeutics were worth $304,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Penserra Capital Management LLC bought a new stake in shares of Halozyme Therapeutics during the 1st quarter valued at about $125,000. Bessemer Group Inc. grew its position in 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. Redhawk Wealth Advisors Inc. grew its position in Halozyme Therapeutics by 14.8% in the 2nd quarter. Redhawk Wealth Advisors Inc. now owns 37,419 shares of the biopharmaceutical company's stock worth $1,947,000 after purchasing an additional 4,827 shares during the last quarter. GAMMA Investing LLC grew its position in Halozyme Therapeutics by 199.0% in the 1st quarter. GAMMA Investing LLC now owns 2,802 shares of the biopharmaceutical company's stock worth $179,000 after purchasing an additional 1,865 shares during the last quarter. Finally, Intech Investment Management LLC grew its position in Halozyme Therapeutics by 9.9% in the 1st quarter. Intech Investment Management LLC now owns 153,199 shares of the biopharmaceutical company's stock worth $9,776,000 after purchasing an additional 13,789 shares during the last quarter. Institutional investors own 97.79% of the company's stock.

Halozyme Therapeutics Trading Up 0.1%

Shares of NASDAQ:HALO opened at $73.34 on Wednesday. The stock has a market capitalization of $8.58 billion, a price-to-earnings ratio of 16.78, a PEG ratio of 0.40 and a beta of 1.19. Halozyme Therapeutics, Inc. has a 1-year low of $42.01 and a 1-year high of $79.50. 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 company has a 50 day moving average price of $69.65 and a 200 day moving average price of $61.77.

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

Analysts Set New Price Targets

Several research firms have commented on HALO. Morgan Stanley upped their target price on shares of Halozyme Therapeutics from $75.00 to $80.00 and gave the stock an "overweight" rating in a research report on Monday, August 18th. JPMorgan Chase & Co. upped their target price 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. Benchmark upped their target price on shares of Halozyme Therapeutics from $75.00 to $90.00 and gave the stock a "buy" rating in a research report on Wednesday, September 24th. JMP Securities upped their target price on shares of Halozyme Therapeutics from $78.00 to $91.00 and gave the stock a "market outperform" rating in a research report on Wednesday, August 6th. Finally, Zacks Research upgraded shares of Halozyme Therapeutics from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, September 2nd. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $69.89.

Insider Activity at Halozyme Therapeutics

In related news, 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 value of $1,488,800.00. Following the completion of the sale, the chief executive officer owned 733,719 shares in the company, valued at approximately $54,618,042.36. This represents a 2.65% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Nicole Labrosse sold 2,227 shares of the company's stock in a transaction that occurred on Monday, September 22nd. The shares were sold at an average price of $77.95, for a total transaction of $173,594.65. Following the completion of the sale, the chief financial officer owned 22,079 shares of the company's stock, valued at approximately $1,721,058.05. This trade represents a 9.16% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 86,227 shares of company stock worth $5,870,115. 2.90% of the stock is owned by corporate insiders.

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.

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