NorthCrest Asset Manangement LLC Reduces Holdings in Halozyme Therapeutics, Inc. $HALO

Key Points

• NorthCrest Asset Management LLC reduced its stake in Halozyme Therapeutics by 26.8%, selling 8,022 shares and leaving them with a total of 21,857 shares valued at $1,180,000.
• Analysts have mixed views on Halozyme, with Zacks Research upgrading the stock to a "strong-buy" rating, while Wall Street Zen downgraded it from "strong-buy" to "buy."
• In recent transactions, both Director Bernadette Connaughton and CEO Helen Torley sold significant portions of their shares, reflecting a decrease in their ownership positions.

NorthCrest Asset Manangement LLC cut its stake in Halozyme Therapeutics, Inc. (NASDAQ:HALO - Free Report) by 26.8% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 21,857 shares of the biopharmaceutical company's stock after selling 8,022 shares during the quarter. NorthCrest Asset Manangement LLC's holdings in Halozyme Therapeutics were worth $1,180,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. Caisse DE Depot ET Placement DU Quebec boosted its position in shares of Halozyme Therapeutics by 154.5% in the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 910,169 shares of the biopharmaceutical company's stock worth $58,078,000 after purchasing an additional 552,590 shares in the last quarter. LSV Asset Management boosted its position in shares of Halozyme Therapeutics by 41.9% in the 1st quarter. LSV Asset Management now owns 895,191 shares of the biopharmaceutical company's stock worth $57,122,000 after purchasing an additional 264,130 shares in the last quarter. Fuller & Thaler Asset Management Inc. boosted its position in shares of Halozyme Therapeutics by 27.3% in the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 1,130,019 shares of the biopharmaceutical company's stock worth $72,107,000 after purchasing an additional 242,167 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Halozyme Therapeutics in the 4th quarter worth approximately $10,032,000. Finally, MetLife Investment Management LLC boosted its position in shares of Halozyme Therapeutics by 136.6% in the 1st quarter. MetLife Investment Management LLC now owns 343,741 shares of the biopharmaceutical company's stock worth $21,934,000 after purchasing an additional 198,476 shares in the last quarter. 97.79% of the stock is currently owned by institutional investors.

Halozyme Therapeutics Stock Performance

Shares of NASDAQ HALO traded up $0.06 during trading on Monday, reaching $77.87. 886,434 shares of the company traded hands, compared to its average volume of 1,967,628. The firm has a 50 day simple moving average of $67.13 and a 200-day simple moving average of $61.10. The company has a quick ratio of 7.01, a current ratio of 8.36 and a debt-to-equity ratio of 4.54. The stock has a market capitalization of $9.11 billion, a PE ratio of 17.81, a P/E/G 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 $79.31.

Halozyme Therapeutics (NASDAQ:HALO - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The biopharmaceutical company reported $1.54 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.23 by $0.31. The firm had revenue of $325.72 million for 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 business's quarterly revenue was up 40.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.91 EPS. Halozyme Therapeutics has set its FY 2025 guidance at 6.000-6.400 EPS. Equities research analysts anticipate that Halozyme Therapeutics, Inc. will post 4.73 earnings per share for the current year.

Analysts Set New Price Targets

HALO has been the subject of several analyst reports. Wall Street Zen downgraded Halozyme Therapeutics from a "strong-buy" rating to a "buy" rating in a report on Friday, September 5th. Morgan Stanley raised their price objective on shares of Halozyme Therapeutics from $75.00 to $80.00 and gave the company an "overweight" rating in a research note on Monday, August 18th. The Goldman Sachs Group assumed coverage on shares of Halozyme Therapeutics in a research note on Thursday, July 10th. They set a "neutral" rating and a $55.00 price objective for the company. HC Wainwright raised their price objective on shares of Halozyme Therapeutics from $75.00 to $85.00 and gave the company a "buy" rating in a research note on Monday. Finally, JMP Securities raised their price objective on shares of Halozyme Therapeutics from $78.00 to $91.00 and gave the company a "market outperform" rating in a research note on Wednesday, August 6th. One investment 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 company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $68.22.

Insider Buying and Selling

In related news, Director Bernadette Connaughton sold 4,000 shares of the firm's stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $73.68, for a total value of $294,720.00. Following the transaction, the director owned 46,952 shares of the company's stock, valued at approximately $3,459,423.36. This trade represents a 7.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Nicole Labrosse sold 20,000 shares of the firm's stock in a transaction that occurred on Wednesday, September 10th. The stock was sold at an average price of $75.71, for a total transaction of $1,514,200.00. Following the completion of the transaction, the chief financial officer directly owned 24,306 shares in the company, valued at approximately $1,840,207.26. The trade was a 45.14% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 104,000 shares of company stock valued at $6,771,120. 2.90% of the stock is owned by insiders.

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.