Livforsakringsbolaget Skandia Omsesidigt Purchases 44,700 Shares of Halozyme Therapeutics, Inc. $HALO

Key Points

• Livforsakringsbolaget Skandia Omsesidigt increased its ownership of Halozyme Therapeutics by 78%, acquiring 44,700 additional shares, bringing its total to approximately 102,000 shares valued at $5.3 million.
• Analysis from various equity research firms has led to shifting ratings for Halozyme, with JMP Securities raising the target price from $78 to $91 while others maintain a mixed outlook with an average price target of $67.11.
• Recent insider sales included Director Bernadette Connaughton selling 4,000 shares for nearly $295,000 and CFO Nicole Labrosse selling 20,000 shares for over $1.5 million, indicating a notable decrease in their holdings.

Livforsakringsbolaget Skandia Omsesidigt increased its stake in shares of Halozyme Therapeutics, Inc. (NASDAQ:HALO - Free Report) by 78.0% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 102,000 shares of the biopharmaceutical company's stock after acquiring an additional 44,700 shares during the period. Livforsakringsbolaget Skandia Omsesidigt owned 0.08% of Halozyme Therapeutics worth $5,305,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in HALO. Caisse DE Depot ET Placement DU Quebec grew its holdings in Halozyme Therapeutics by 154.5% in the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 910,169 shares of the biopharmaceutical company's stock valued at $58,078,000 after buying an additional 552,590 shares during the last quarter. LSV Asset Management grew its holdings in Halozyme Therapeutics by 41.9% in the 1st quarter. LSV Asset Management now owns 895,191 shares of the biopharmaceutical company's stock valued at $57,122,000 after buying an additional 264,130 shares during the last quarter. Fuller & Thaler Asset Management Inc. lifted its position in shares of Halozyme Therapeutics by 27.3% in the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 1,130,019 shares of the biopharmaceutical company's stock worth $72,107,000 after acquiring an additional 242,167 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Halozyme Therapeutics in the 4th quarter worth approximately $10,032,000. Finally, MetLife Investment Management LLC lifted its position in shares of Halozyme Therapeutics by 136.6% in the 1st quarter. MetLife Investment Management LLC now owns 343,741 shares of the biopharmaceutical company's stock worth $21,934,000 after acquiring an additional 198,476 shares during the period. Institutional investors and hedge funds own 97.79% of the company's stock.

Halozyme Therapeutics Trading Up 0.6%

HALO stock traded up $0.47 during midday trading on Monday, hitting $78.28. 1,619,953 shares of the company's stock were exchanged, compared to its average volume of 1,971,809. The stock's fifty day moving average price is $67.13 and its 200-day moving average price is $61.10. The company has a debt-to-equity ratio of 4.54, a quick ratio of 7.01 and a current ratio of 8.36. The company has a market cap of $9.16 billion, a PE ratio of 17.91, a price-to-earnings-growth ratio of 0.43 and a beta of 1.19. Halozyme Therapeutics, Inc. has a one year low of $42.01 and a one year high of $79.31.

Halozyme Therapeutics (NASDAQ:HALO - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The biopharmaceutical company reported $1.54 EPS for the quarter, beating analysts' consensus estimates of $1.23 by $0.31. The company had revenue of $325.72 million for the quarter, compared to analyst estimates of $282.66 million. Halozyme Therapeutics had a return on equity of 150.85% and a net margin of 47.28%.The company's quarterly revenue was up 40.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.91 earnings per share. Halozyme Therapeutics has set its FY 2025 guidance at 6.000-6.400 EPS. Research analysts predict that Halozyme Therapeutics, Inc. will post 4.73 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Nicole Labrosse sold 20,000 shares of the company's stock in a transaction dated Wednesday, September 10th. The stock was sold at an average price of $75.71, for a total transaction of $1,514,200.00. Following the sale, the chief financial officer owned 24,306 shares in the company, valued at approximately $1,840,207.26. This represents a 45.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Helen Torley sold 20,000 shares of the business's stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $74.44, for a total value of $1,488,800.00. Following the transaction, the chief executive officer directly owned 733,719 shares in the company, valued at approximately $54,618,042.36. This trade represents a 2.65% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 104,000 shares of company stock worth $6,771,120. Corporate insiders own 2.90% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on HALO. The Goldman Sachs Group began coverage on Halozyme Therapeutics in a research report on Thursday, July 10th. They issued a "neutral" rating and a $55.00 price objective for the company. Wall Street Zen downgraded Halozyme Therapeutics from a "strong-buy" rating to a "buy" rating in a research report on Friday, September 5th. JMP Securities raised their target price on Halozyme Therapeutics from $78.00 to $91.00 and gave the stock a "market outperform" rating in a research report on Wednesday, August 6th. Morgan Stanley raised their target price on Halozyme Therapeutics from $75.00 to $80.00 and gave the stock an "overweight" rating in a research report on Monday, August 18th. Finally, Zacks Research upgraded Halozyme Therapeutics from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, September 2nd. One 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 given a Sell rating to the company's stock. According to MarketBeat.com, Halozyme Therapeutics currently has an average rating of "Hold" and a consensus target price of $68.22.

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.