Halozyme Therapeutics, Inc. $HALO Shares Sold by Gabelli Funds LLC

Key Points

• Gabelli Funds cut its Halozyme Therapeutics stake by 56.3% in the first quarter, selling 59,500 shares and retaining 46,200 shares valued at approximately $3.0 million. Institutional investors and hedge funds collectively own 97.79% of the company.
• Halozyme insiders sold 74,102 shares worth about $5.2 million over the past quarter, including sales by CEO Helen Torley and director Bernadette Connaughton under pre-arranged Rule 10b5-1 plans.
• Analysts remain broadly bullish, with a consensus “Moderate Buy” rating and an average price target of $81.60. The company recently exceeded quarterly earnings and revenue estimates, reporting $1.60 EPS and $376.7 million in revenue, up 42.2% year over year.

Gabelli Funds LLC lowered its holdings in Halozyme Therapeutics, Inc. (NASDAQ:HALO - Free Report) by 56.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 46,200 shares of the biopharmaceutical company's stock after selling 59,500 shares during the period. Gabelli Funds LLC's holdings in Halozyme Therapeutics were worth $2,986,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in Halozyme Therapeutics during the fourth quarter worth about $128,201,000. William Blair Investment Management LLC purchased a new stake in Halozyme Therapeutics in the 4th quarter valued at about $124,031,000. Voloridge Investment Management LLC acquired a new position in shares of Halozyme Therapeutics during the 3rd quarter valued at about $77,587,000. Qube Research & Technologies Ltd acquired a new position in shares of Halozyme Therapeutics during the 2nd quarter valued at about $51,295,000. Finally, Mizuho Markets Americas LLC lifted its holdings in shares of Halozyme Therapeutics by 270.8% during the 4th quarter. Mizuho Markets Americas LLC now owns 1,268,673 shares of the biopharmaceutical company's stock worth $85,382,000 after acquiring an additional 926,526 shares during the period. 97.79% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Halozyme Therapeutics

In other Halozyme Therapeutics news, CEO Helen Torley sold 20,000 shares of Halozyme Therapeutics stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $71.75, for a total transaction of $1,435,000.00. Following the transaction, the chief executive officer directly owned 767,780 shares of the company's stock, valued at $55,088,215. The trade was a 2.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Bernadette Connaughton sold 1,625 shares of the business's stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $76.71, for a total transaction of $124,653.75. Following the sale, the director owned 42,044 shares of the company's stock, valued at approximately $3,225,195.24. This represents a 3.72% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 74,102 shares of company stock worth $5,205,798. Company insiders own 2.50% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on HALO shares. Morgan Stanley decreased their target price on shares of Halozyme Therapeutics from $96.00 to $93.00 and set an "overweight" rating on the stock in a research report on Tuesday, May 12th. Wall Street Zen raised shares of Halozyme Therapeutics from a "hold" rating to a "buy" rating in a research report on Saturday, May 16th. UBS Group reaffirmed a "buy" rating and set a $90.00 price target on shares of Halozyme Therapeutics in a research note on Wednesday, June 3rd. Benchmark reiterated a "buy" rating on shares of Halozyme Therapeutics in a report on Tuesday, July 21st. Finally, HC Wainwright reiterated a "buy" rating and issued a $95.00 price target on shares of Halozyme Therapeutics in a report on Tuesday, July 21st. Eight investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $81.60.

Halozyme Therapeutics Stock Performance

Shares of NASDAQ:HALO opened at $83.44 on Wednesday. The business has a 50-day moving average of $73.66 and a two-hundred day moving average of $70.69. The firm has a market capitalization of $9.90 billion, a PE ratio of 30.01, a P/E/G ratio of 0.34 and a beta of 0.84. The company has a debt-to-equity ratio of 8.81, a current ratio of 2.76 and a quick ratio of 2.33. Halozyme Therapeutics, Inc. has a 12 month low of $57.67 and a 12 month high of $84.44.

Halozyme Therapeutics (NASDAQ:HALO - Get Free Report) last released its quarterly earnings data on Monday, May 11th. The biopharmaceutical company reported $1.60 earnings per share for the quarter, beating the consensus estimate of $1.54 by $0.06. Halozyme Therapeutics had a return on equity of 187.91% and a net margin of 23.13%.The business had revenue of $376.71 million for the quarter, compared to analyst estimates of $358.60 million. During the same period in the previous year, the company posted $1.11 EPS. The company's revenue was up 42.2% compared to the same quarter last year. Halozyme Therapeutics has set its FY 2026 guidance at 7.750-8.250 EPS. As a group, research analysts forecast that Halozyme Therapeutics, Inc. will post 7.54 earnings per share for the current year.

Halozyme Therapeutics Profile

Halozyme Therapeutics, Inc is a biopharmaceutical company headquartered in San Diego, California, that specializes in the development and commercialization of novel drug-delivery technologies. Founded in 1998, Halozyme focuses on enabling subcutaneous administration of biologic therapies through its proprietary platforms. The company's core mission is to improve patient access and convenience while maintaining efficacy and safety profiles comparable to or better than traditional routes of administration.

The company's flagship technology, ENHANZE®, is based on recombinant human hyaluronidase PH20 (rHuPH20), an enzyme that transiently degrades hyaluronan in the extracellular matrix.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.