Handelsbanken Fonder AB Trims Stake in Halozyme Therapeutics, Inc. (NASDAQ:HALO)

Handelsbanken Fonder AB lowered its position in shares of Halozyme Therapeutics, Inc. (NASDAQ:HALO - Free Report) by 48.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 266,069 shares of the biopharmaceutical company's stock after selling 250,400 shares during the period. Handelsbanken Fonder AB owned about 0.22% of Halozyme Therapeutics worth $16,978,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. CBIZ Investment Advisory Services LLC purchased a new position in shares of Halozyme Therapeutics during the fourth quarter valued at $29,000. Heck Capital Advisors LLC purchased a new position in shares of Halozyme Therapeutics during the fourth quarter valued at $29,000. Smartleaf Asset Management LLC increased its stake in shares of Halozyme Therapeutics by 29.2% during the fourth quarter. Smartleaf Asset Management LLC now owns 871 shares of the biopharmaceutical company's stock valued at $42,000 after buying an additional 197 shares during the period. Venturi Wealth Management LLC purchased a new position in shares of Halozyme Therapeutics during the fourth quarter valued at $69,000. Finally, UMB Bank n.a. increased its stake in shares of Halozyme Therapeutics by 267.4% during the first quarter. UMB Bank n.a. now owns 1,319 shares of the biopharmaceutical company's stock valued at $84,000 after buying an additional 960 shares during the period. Hedge funds and other institutional investors own 97.79% of the company's stock.

Halozyme Therapeutics Stock Down 1.0%

NASDAQ HALO traded down $0.56 during trading on Friday, hitting $53.98. The company's stock had a trading volume of 1,218,546 shares, compared to its average volume of 1,633,292. The company has a debt-to-equity ratio of 4.14, a current ratio of 7.80 and a quick ratio of 9.15. The company has a market cap of $6.65 billion, a PE ratio of 15.74, a P/E/G ratio of 0.42 and a beta of 1.19. The business's 50 day simple moving average is $57.34 and its 200-day simple moving average is $56.08. Halozyme Therapeutics, Inc. has a fifty-two week low of $42.01 and a fifty-two week high of $70.51.

Halozyme Therapeutics (NASDAQ:HALO - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The biopharmaceutical company reported $1.11 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.13. The business had revenue of $264.86 million during the quarter, compared to the consensus estimate of $231.21 million. Halozyme Therapeutics had a return on equity of 157.78% and a net margin of 43.74%. The company's quarterly revenue was up 35.2% on a year-over-year basis. During the same quarter last year, the company earned $0.79 earnings per share. On average, equities analysts anticipate that Halozyme Therapeutics, Inc. will post 4.73 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

HALO has been the topic of a number of recent research reports. Wells Fargo & Company raised their price objective on Halozyme Therapeutics from $60.00 to $65.00 and gave the company an "equal weight" rating in a research report on Wednesday, May 7th. Leerink Partners downgraded Halozyme Therapeutics from a "market perform" rating to an "underperform" rating and set a $47.00 price objective on the stock. in a research report on Tuesday, May 13th. Benchmark downgraded Halozyme Therapeutics from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, May 7th. HC Wainwright reaffirmed a "buy" rating and set a $72.00 price objective on shares of Halozyme Therapeutics in a research report on Thursday, May 29th. Finally, JPMorgan Chase & Co. raised their price objective on Halozyme Therapeutics from $55.00 to $58.00 and gave the company a "neutral" rating in a research report on Monday, April 21st. Two analysts have rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $61.90.

Insider Buying and Selling

In related news, Director Jeffrey William Henderson sold 4,497 shares of Halozyme Therapeutics stock in a transaction dated Monday, April 28th. The stock was sold at an average price of $60.37, for a total transaction of $271,483.89. Following the completion of the sale, the director now owns 28,611 shares of the company's stock, valued at $1,727,246.07. The trade was a 13.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 2.40% 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.