Janney Montgomery Scott LLC Sells 269,655 Shares of Halozyme Therapeutics, Inc. $HALO

Key Points

• Janney Montgomery Scott LLC significantly reduced its stake in Halozyme Therapeutics by 91.7%, selling 269,655 shares, leaving it with just 24,468 shares valued at $1.27 million.
• Insider sales include Director Bernadette Connaughton selling 4,000 shares and CEO Helen Torley selling 20,000 shares, reducing their positions by 7.85% and 2.65% respectively.
• Brokerages have mixed outlooks on Halozyme, with Benchmark raising its target price to $90 and Zacks downgrading its rating to "hold," while the average price target is currently $70.44.

Janney Montgomery Scott LLC lowered its stake in shares of Halozyme Therapeutics, Inc. (NASDAQ:HALO - Free Report) by 91.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,468 shares of the biopharmaceutical company's stock after selling 269,655 shares during the quarter. Janney Montgomery Scott LLC's holdings in Halozyme Therapeutics were worth $1,273,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of HALO. State of Alaska Department of Revenue increased its position in shares of Halozyme Therapeutics by 31.8% during the 2nd quarter. State of Alaska Department of Revenue now owns 61,818 shares of the biopharmaceutical company's stock valued at $3,214,000 after purchasing an additional 14,915 shares during the last quarter. ST Germain D J Co. Inc. purchased a new stake in shares of Halozyme Therapeutics during the 2nd quarter valued at $142,000. Public Employees Retirement System of Ohio increased its position in shares of Halozyme Therapeutics by 6,594.3% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 38,626 shares of the biopharmaceutical company's stock valued at $2,009,000 after purchasing an additional 38,049 shares during the last quarter. Unified Investment Management increased its position in shares of Halozyme Therapeutics by 4.0% during the 2nd quarter. Unified Investment Management now owns 22,194 shares of the biopharmaceutical company's stock valued at $1,155,000 after purchasing an additional 847 shares during the last quarter. Finally, Argent Capital Management LLC increased its position in shares of Halozyme Therapeutics by 5.0% during the 2nd quarter. Argent Capital Management LLC now owns 12,714 shares of the biopharmaceutical company's stock valued at $661,000 after purchasing an additional 609 shares during the last quarter. Hedge funds and other institutional investors own 97.79% of the company's stock.

Insiders Place Their Bets

In other Halozyme Therapeutics news, Director Bernadette Connaughton sold 4,000 shares of the firm's stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $73.68, for a total value of $294,720.00. Following the sale, the director owned 46,952 shares of the company's stock, valued at $3,459,423.36. This trade represents a 7.85% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Helen Torley sold 20,000 shares of the firm's stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $75.35, for a total value of $1,507,000.00. Following the completion of the sale, the chief executive officer directly owned 733,719 shares in the company, valued at approximately $55,285,726.65. The trade was a 2.65% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 108,227 shares of company stock worth $7,779,595 in the last quarter. 2.90% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on HALO. Benchmark raised their target price on Halozyme Therapeutics from $75.00 to $90.00 and gave the company a "buy" rating in a research report on Wednesday, September 24th. Zacks Research lowered Halozyme Therapeutics from a "strong-buy" rating to a "hold" rating in a research report on Monday, October 6th. JPMorgan Chase & Co. raised their target price on Halozyme Therapeutics from $60.00 to $63.00 and gave the company a "neutral" rating in a research report on Thursday, August 7th. Wall Street Zen downgraded Halozyme Therapeutics from a "strong-buy" rating to a "buy" rating in a research note on Friday, September 5th. Finally, Morgan Stanley increased their price target on Halozyme Therapeutics from $75.00 to $80.00 and gave the stock an "overweight" rating in a research note on Monday, August 18th. Six equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Halozyme Therapeutics has an average rating of "Hold" and an average price target of $70.44.

Halozyme Therapeutics Stock Down 1.6%

Shares of NASDAQ HALO opened at $64.10 on Monday. Halozyme Therapeutics, Inc. has a 52 week low of $42.01 and a 52 week high of $79.50. The business has a 50-day simple moving average of $71.08 and a two-hundred day simple moving average of $61.97. The company has a quick ratio of 7.01, a current ratio of 8.36 and a debt-to-equity ratio of 4.54. The company has a market cap of $7.50 billion, a P/E ratio of 14.67, a P/E/G ratio of 0.34 and a beta of 1.16.

Halozyme Therapeutics (NASDAQ:HALO - Get Free Report) last issued its earnings results on Tuesday, August 5th. The biopharmaceutical company reported $1.54 EPS for the quarter, topping 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 during the quarter, compared to the consensus estimate of $282.66 million. During the same quarter last year, the company earned $0.91 EPS. The firm'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. Research analysts anticipate that Halozyme Therapeutics, Inc. will post 4.73 earnings per share for the current fiscal year.

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.

Want to see what other hedge funds are holding HALO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Halozyme Therapeutics, Inc. (NASDAQ:HALO - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.