Harvey Capital Management Inc. Has $9.52 Million Stock Position in Halozyme Therapeutics, Inc. (NASDAQ:HALO)

Harvey Capital Management Inc. cut its stake in shares of Halozyme Therapeutics, Inc. (NASDAQ:HALO - Free Report) by 19.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 149,175 shares of the biopharmaceutical company's stock after selling 36,260 shares during the quarter. Halozyme Therapeutics accounts for 2.5% of Harvey Capital Management Inc.'s portfolio, making the stock its 8th largest holding. Harvey Capital Management Inc. owned 0.12% of Halozyme Therapeutics worth $9,519,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of the stock. CBIZ Investment Advisory Services LLC purchased a new stake in shares of Halozyme Therapeutics in the fourth quarter valued at $29,000. Heck Capital Advisors LLC purchased a new stake in shares of Halozyme Therapeutics in the fourth quarter valued at $29,000. Bessemer Group Inc. lifted its holdings in shares of Halozyme Therapeutics by 62.9% in the first quarter. Bessemer Group Inc. now owns 536 shares of the biopharmaceutical company's stock valued at $34,000 after purchasing an additional 207 shares in the last quarter. Smartleaf Asset Management LLC raised its holdings 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 worth $42,000 after acquiring an additional 197 shares in the last quarter. Finally, Park Place Capital Corp raised its holdings in shares of Halozyme Therapeutics by 20.1% during the first quarter. Park Place Capital Corp now owns 1,086 shares of the biopharmaceutical company's stock worth $69,000 after acquiring an additional 182 shares in the last quarter. 97.79% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, CEO Helen Torley sold 20,000 shares of Halozyme Therapeutics stock in a transaction that occurred on Friday, June 20th. The shares were sold at an average price of $52.96, for a total value of $1,059,200.00. Following the completion of the transaction, the chief executive officer owned 733,719 shares in the company, valued at approximately $38,857,758.24. The trade was a 2.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Jeffrey William Henderson sold 4,497 shares of Halozyme Therapeutics 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 transaction, the director owned 28,611 shares of the company's stock, valued at $1,727,246.07. This trade represents a 13.58% decrease in their position. The disclosure for this sale can be found here. Insiders sold 64,497 shares of company stock valued at $3,533,884 in the last quarter. 2.40% of the stock is currently owned by corporate insiders.

Halozyme Therapeutics Price Performance

HALO traded down $0.48 during midday trading on Friday, reaching $57.15. 1,242,806 shares of the company's stock were exchanged, compared to its average volume of 1,758,707. The firm has a market capitalization of $7.04 billion, a price-to-earnings ratio of 15.20, a price-to-earnings-growth ratio of 0.38 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, Inc. has a one year low of $42.01 and a one year high of $70.51. The business has a 50-day simple moving average of $55.03 and a two-hundred day simple moving average of $56.95.

Halozyme Therapeutics (NASDAQ:HALO - Get Free Report) last announced its quarterly 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. The firm had revenue of $264.86 million during the quarter, compared to analysts' expectations of $231.21 million. Halozyme Therapeutics had a net margin of 44.76% and a return on equity of 136.91%. The company's revenue for the quarter was up 35.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.79 earnings per share. As a group, research analysts predict that Halozyme Therapeutics, Inc. will post 4.73 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. JPMorgan Chase & Co. increased their price objective on Halozyme Therapeutics from $55.00 to $58.00 and gave the stock a "neutral" rating in a report on Monday, April 21st. Morgan Stanley downgraded Halozyme Therapeutics from an "overweight" rating to an "equal weight" rating and lowered their price target for the company from $73.00 to $62.00 in a research report on Wednesday, May 14th. Benchmark downgraded Halozyme Therapeutics from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, May 7th. Leerink Partnrs downgraded Halozyme Therapeutics from a "hold" rating to a "strong sell" rating in a research report on Tuesday, May 13th. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $72.00 price target on shares of Halozyme Therapeutics in a research report on Thursday, May 29th. Two equities 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.com, Halozyme Therapeutics currently has an average rating of "Hold" and a consensus target price of $62.50.

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.