Hodges Capital Management Inc. Has $12.35 Million Stock Position in Halozyme Therapeutics, Inc. $HALO

Key Points

• Hodges Capital Management Inc. reduced its stake in Halozyme Therapeutics, Inc. by 41.9%, holding 193,565 shares valued at approximately $12.35 million, making it the firm's 20th largest position.
• Insider transactions include CFO Nicole Labrosse and CEO Helen Torley each selling 20,000 shares, which has led to significant decreases in their respective ownership percentages.
• Halozyme Therapeutics reported a 40.8% year-over-year revenue increase, totaling $325.72 million for the quarter, while beating earnings expectations with $1.54 earnings per share.

Hodges Capital Management Inc. trimmed its position in shares of Halozyme Therapeutics, Inc. (NASDAQ:HALO - Free Report) by 41.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 193,565 shares of the biopharmaceutical company's stock after selling 139,389 shares during the quarter. Halozyme Therapeutics makes up about 1.2% of Hodges Capital Management Inc.'s portfolio, making the stock its 20th biggest holding. Hodges Capital Management Inc. owned 0.16% of Halozyme Therapeutics worth $12,351,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in HALO. Penserra Capital Management LLC purchased a new stake in Halozyme Therapeutics in the 1st quarter worth $125,000. Bessemer Group Inc. increased its holdings in Halozyme Therapeutics by 62.9% in the 1st quarter. Bessemer Group Inc. now owns 536 shares of the biopharmaceutical company's stock worth $34,000 after acquiring an additional 207 shares in the last quarter. Fifth Third Bancorp increased its holdings in Halozyme Therapeutics by 29.4% in the 1st quarter. Fifth Third Bancorp now owns 10,017 shares of the biopharmaceutical company's stock worth $639,000 after acquiring an additional 2,276 shares in the last quarter. GAMMA Investing LLC increased its holdings in Halozyme Therapeutics by 199.0% in the 1st quarter. GAMMA Investing LLC now owns 2,802 shares of the biopharmaceutical company's stock worth $179,000 after acquiring an additional 1,865 shares in the last quarter. Finally, Farther Finance Advisors LLC increased its holdings in Halozyme Therapeutics by 620.5% in the 1st quarter. Farther Finance Advisors LLC now owns 5,505 shares of the biopharmaceutical company's stock worth $341,000 after acquiring an additional 4,741 shares in the last quarter. 97.79% of the stock is owned by hedge funds and other institutional investors.

Halozyme Therapeutics Trading Down 0.8%

HALO traded down $0.63 during midday trading on Friday, hitting $76.90. The company's stock had a trading volume of 1,121,085 shares, compared to its average volume of 1,903,310. The company has a current ratio of 8.36, a quick ratio of 7.01 and a debt-to-equity ratio of 4.54. The firm has a market cap of $8.99 billion, a P/E ratio of 17.60, a PEG ratio of 0.42 and a beta of 1.19. The firm has a 50-day moving average price of $65.11 and a two-hundred day moving average price of $60.49. Halozyme Therapeutics, Inc. has a 52-week low of $42.01 and a 52-week high of $77.60.

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 for the quarter, beating the consensus estimate of $1.23 by $0.31. Halozyme Therapeutics had a return on equity of 150.85% and a net margin of 47.28%.The business had revenue of $325.72 million for the quarter, compared to analyst estimates of $282.66 million. During the same period in the previous year, the company posted $0.91 EPS. The company's revenue was up 40.8% compared to the same quarter last year. Halozyme Therapeutics has set its FY 2025 guidance at 6.000-6.400 EPS. On average, research analysts anticipate that Halozyme Therapeutics, Inc. will post 4.73 earnings per share for the current year.

Insider Activity

In other news, CEO Helen Torley sold 20,000 shares of the company's stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $74.44, for a total transaction of $1,488,800.00. Following the completion of the sale, the chief executive officer directly owned 733,719 shares of the company's stock, valued at $54,618,042.36. This represents a 2.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Bernadette Connaughton sold 4,000 shares of the company's stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $73.68, for a total value of $294,720.00. Following the transaction, the director directly owned 46,952 shares in the company, valued at $3,459,423.36. The trade was a 7.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 124,000 shares of company stock worth $7,830,320 over the last 90 days. 2.90% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Zacks Research raised shares of Halozyme Therapeutics from a "hold" rating to a "strong-buy" rating in a report on Tuesday, September 2nd. The Goldman Sachs Group initiated coverage on shares of Halozyme Therapeutics in a research report on Thursday, July 10th. They set a "neutral" rating and a $55.00 price target on the stock. HC Wainwright boosted their price target on shares of Halozyme Therapeutics from $72.00 to $75.00 and gave the company a "buy" rating in a research report on Wednesday, August 6th. Morgan Stanley upped their target price on shares of Halozyme Therapeutics from $75.00 to $80.00 and gave the company an "overweight" rating in a research report on Monday, August 18th. Finally, JPMorgan Chase & Co. upped their target price on shares of Halozyme Therapeutics from $60.00 to $63.00 and gave the stock a "neutral" rating in a research note on Thursday, August 7th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, Halozyme Therapeutics presently has a consensus rating of "Hold" and an average price target of $67.11.

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.