Harvey Capital Management Inc. Sells 36,260 Shares of Halozyme Therapeutics, Inc. (NASDAQ:HALO)

Harvey Capital Management Inc. lessened its holdings in Halozyme Therapeutics, Inc. (NASDAQ:HALO - Free Report) by 19.6% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 149,175 shares of the biopharmaceutical company's stock after selling 36,260 shares during the period. Halozyme Therapeutics comprises 2.5% of Harvey Capital Management Inc.'s holdings, making the stock its 8th biggest position. Harvey Capital Management Inc. owned 0.12% of Halozyme Therapeutics worth $9,519,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Norges Bank purchased a new stake in Halozyme Therapeutics during the fourth quarter valued at approximately $60,054,000. Capital World Investors acquired a new stake in shares of Halozyme Therapeutics in the fourth quarter worth $35,773,000. Arrowstreet Capital Limited Partnership increased its stake in shares of Halozyme Therapeutics by 141.3% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 992,887 shares of the biopharmaceutical company's stock worth $47,470,000 after acquiring an additional 581,475 shares during the period. D. E. Shaw & Co. Inc. increased its holdings in Halozyme Therapeutics by 171.2% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 831,414 shares of the biopharmaceutical company's stock valued at $39,750,000 after buying an additional 524,802 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new position in Halozyme Therapeutics in the fourth quarter valued at $21,838,000. Hedge funds and other institutional investors own 97.79% of the company's stock.

Insiders Place Their Bets

In other news, Director Jeffrey William Henderson sold 4,497 shares of the business's stock in a transaction that occurred on 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 owned 28,611 shares in the company, valued at approximately $1,727,246.07. The trade was a 13.58% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Helen Torley sold 20,000 shares of the company's stock in a transaction on Tuesday, June 24th. The shares were sold at an average price of $53.73, for a total transaction of $1,074,600.00. Following the completion of the sale, the chief executive officer owned 733,719 shares of the company's stock, valued at approximately $39,422,721.87. This trade represents a 2.65% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 44,497 shares of company stock worth $2,405,284 in the last ninety days. Corporate insiders own 2.90% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on HALO. Leerink Partnrs cut shares of Halozyme Therapeutics from a "hold" rating to a "strong sell" rating in a report on Tuesday, May 13th. Morgan Stanley cut shares of Halozyme Therapeutics from an "overweight" rating to an "equal weight" rating and cut their price objective for the company from $73.00 to $62.00 in a report on Wednesday, May 14th. JPMorgan Chase & Co. lifted their price objective on shares of Halozyme Therapeutics from $55.00 to $58.00 and gave the company a "neutral" rating in a report on Monday, April 21st. HC Wainwright reaffirmed a "buy" rating and issued a $72.00 price objective on shares of Halozyme Therapeutics in a report on Thursday, May 29th. Finally, Benchmark lowered shares of Halozyme Therapeutics from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, May 7th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, Halozyme Therapeutics currently has an average rating of "Hold" and a consensus target price of $61.90.

Halozyme Therapeutics Trading Up 1.4%

HALO stock traded up $0.78 during trading on Wednesday, reaching $56.58. 1,552,376 shares of the stock were exchanged, compared to its average volume of 1,757,972. The company has a current ratio of 8.39, a quick ratio of 7.30 and a debt-to-equity ratio of 3.13. The business has a 50 day moving average price of $55.26 and a 200-day moving average price of $56.75. Halozyme Therapeutics, Inc. has a 1 year low of $42.01 and a 1 year high of $70.51. The firm has a market capitalization of $6.97 billion, a price-to-earnings ratio of 15.05, a P/E/G ratio of 0.36 and a beta of 1.15.

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

Halozyme Therapeutics Company 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.