E Fund Management Co. Ltd. Reduces Stock Position in Halozyme Therapeutics, Inc. $HALO

Key Points

• E Fund Management Co. Ltd. reduced its holdings in Halozyme Therapeutics by 32.5% in the first quarter, now owning 10,384 shares valued at $663,000.
• CEO Helen Torley sold 20,000 shares of Halozyme stock for over $1.27 million, resulting in a 2.65% decrease in her ownership stake.
• The company's quarterly earnings report showed earnings per share of $1.54, surpassing estimates, with revenue up 40.8% year-over-year at $325.72 million.

E Fund Management Co. Ltd. trimmed its holdings in Halozyme Therapeutics, Inc. (NASDAQ:HALO - Free Report) by 32.5% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,384 shares of the biopharmaceutical company's stock after selling 5,002 shares during the quarter. E Fund Management Co. Ltd.'s holdings in Halozyme Therapeutics were worth $663,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in HALO. Raymond James Financial Inc. acquired a new position in Halozyme Therapeutics in the fourth quarter valued at approximately $21,838,000. Capital Fund Management S.A. acquired a new stake in shares of Halozyme Therapeutics in the fourth quarter valued at approximately $1,118,000. CreativeOne Wealth LLC boosted its holdings in shares of Halozyme Therapeutics by 1.6% in the fourth quarter. CreativeOne Wealth LLC now owns 18,383 shares of the biopharmaceutical company's stock valued at $879,000 after acquiring an additional 294 shares during the period. XTX Topco Ltd acquired a new stake in shares of Halozyme Therapeutics in the fourth quarter valued at approximately $691,000. Finally, Marshall Wace LLP acquired a new stake in shares of Halozyme Therapeutics in the fourth quarter valued at approximately $212,000. 97.79% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. JMP Securities increased their price objective on Halozyme Therapeutics from $78.00 to $91.00 and gave the company a "market outperform" rating in a report on Wednesday, August 6th. JPMorgan Chase & Co. increased their price objective on Halozyme Therapeutics from $60.00 to $63.00 and gave the company a "neutral" rating in a report on Thursday, August 7th. Morgan Stanley increased their price objective on Halozyme Therapeutics from $75.00 to $80.00 and gave the company an "overweight" rating in a report on Monday. The Goldman Sachs Group started coverage on Halozyme Therapeutics in a report on Thursday, July 10th. They issued a "neutral" rating and a $55.00 price objective for the company. Finally, Leerink Partners cut Halozyme Therapeutics from a "market perform" rating to an "underperform" rating and set a $47.00 price target for the company. in a research note on Tuesday, May 13th. Two analysts have rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $67.11.

Halozyme Therapeutics Price Performance

NASDAQ:HALO traded up $1.69 during trading hours on Monday, hitting $68.96. The company's stock had a trading volume of 1,854,517 shares, compared to its average volume of 1,957,239. The business's 50-day moving average is $57.06 and its two-hundred day moving average is $58.28. The company has a market capitalization of $8.07 billion, a PE ratio of 15.78, a PEG ratio of 0.37 and a beta of 1.17. 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, Inc. has a 52-week low of $42.01 and a 52-week high of $70.50.

Halozyme Therapeutics (NASDAQ:HALO - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The biopharmaceutical company reported $1.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.23 by $0.31. The firm had revenue of $325.72 million during the quarter, compared to analysts' expectations of $282.66 million. Halozyme Therapeutics had a return on equity of 150.85% and a net margin of 47.28%. Halozyme Therapeutics's revenue was up 40.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.91 earnings per share. As a group, research analysts anticipate that Halozyme Therapeutics, Inc. will post 4.73 EPS for the current fiscal year.

Insider Transactions at Halozyme Therapeutics

In other Halozyme Therapeutics 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 transaction, the chief executive officer owned 733,719 shares in the company, valued at approximately $46,598,493.69. This represents a 2.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders sold a total of 80,000 shares of company stock valued at $4,532,600 in the last three months. Corporate insiders own 2.90% of the company's stock.

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.