Cerity Partners LLC Reduces Stock Position in Halozyme Therapeutics, Inc. (NASDAQ:HALO)

Cerity Partners LLC lessened its stake in Halozyme Therapeutics, Inc. (NASDAQ:HALO - Free Report) by 13.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 290,893 shares of the biopharmaceutical company's stock after selling 43,959 shares during the quarter. Cerity Partners LLC owned approximately 0.24% of Halozyme Therapeutics worth $18,562,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. CBIZ Investment Advisory Services LLC bought a new stake in Halozyme Therapeutics during the 4th quarter valued at $29,000. Heck Capital Advisors LLC bought a new stake in Halozyme Therapeutics during the 4th quarter valued at $29,000. Bessemer Group Inc. raised its holdings in Halozyme Therapeutics by 62.9% during the 1st quarter. Bessemer Group Inc. now owns 536 shares of the biopharmaceutical company's stock valued at $34,000 after acquiring an additional 207 shares during the period. Park Place Capital Corp raised its holdings in Halozyme Therapeutics by 20.1% during the 1st quarter. Park Place Capital Corp now owns 1,086 shares of the biopharmaceutical company's stock valued at $69,000 after acquiring an additional 182 shares during the period. Finally, UMB Bank n.a. raised its holdings in Halozyme Therapeutics by 267.4% during the 1st quarter. UMB Bank n.a. now owns 1,319 shares of the biopharmaceutical company's stock valued at $84,000 after acquiring an additional 960 shares during the period. Institutional investors own 97.79% of the company's stock.

Halozyme Therapeutics Price Performance

NASDAQ:HALO traded down $0.20 during midday trading on Thursday, hitting $57.81. The company had a trading volume of 1,110,490 shares, compared to its average volume of 1,751,853. Halozyme Therapeutics, Inc. has a 52-week low of $42.01 and a 52-week high of $70.51. The stock's fifty day moving average price is $54.48 and its 200-day moving average price is $57.15. The company has a market capitalization of $7.12 billion, a PE ratio of 15.38, a P/E/G ratio of 0.39 and a beta of 1.15. The company has a quick ratio of 7.30, a current ratio of 8.39 and a debt-to-equity ratio of 3.13.

Halozyme Therapeutics (NASDAQ:HALO - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The biopharmaceutical company reported $1.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.13. Halozyme Therapeutics had a net margin of 44.76% and a return on equity of 136.91%. The business had revenue of $264.86 million during the quarter, compared to analyst estimates of $231.21 million. During the same period in the prior year, the business posted $0.79 earnings per share. The company's revenue was up 35.2% on a year-over-year basis. As a group, research analysts expect that Halozyme Therapeutics, Inc. will post 4.73 earnings per share for the current year.

Analyst Upgrades and Downgrades

HALO has been the topic of a number of analyst reports. HC Wainwright reissued a "buy" rating and set a $72.00 target price on shares of Halozyme Therapeutics in a report on Thursday, May 29th. Leerink Partnrs cut shares of Halozyme Therapeutics from a "hold" rating to a "strong sell" rating in a report on Tuesday, May 13th. Leerink Partners cut shares of Halozyme Therapeutics from a "market perform" rating to an "underperform" rating and set a $47.00 price target on the stock. in a report on Tuesday, May 13th. Morgan Stanley cut shares of Halozyme Therapeutics from an "overweight" rating to an "equal weight" rating and decreased their price target for the stock from $73.00 to $62.00 in a report on Wednesday, May 14th. Finally, Benchmark cut shares of Halozyme Therapeutics from a "strong-buy" rating to a "hold" rating in a report on Wednesday, May 7th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Halozyme Therapeutics has a consensus rating of "Hold" and a consensus target price of $62.70.

Insider Activity

In other Halozyme Therapeutics news, Director Jeffrey William Henderson sold 4,497 shares of the company's stock in a transaction dated Monday, April 28th. The shares were sold at an average price of $60.37, for a total transaction of $271,483.89. Following the completion of the sale, the director directly owned 28,611 shares in the company, valued at $1,727,246.07. This represents a 13.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Helen Torley sold 20,000 shares of the company's stock in a transaction dated Wednesday, July 9th. The shares were sold at an average price of $56.43, for a total transaction of $1,128,600.00. Following the sale, the chief executive officer owned 733,719 shares of the company's stock, valued at approximately $41,403,763.17. The trade was a 2.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 64,497 shares of company stock valued at $3,533,884. Company insiders own 2.40% of the company's stock.

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.