MetLife Investment Management LLC Increases Stock Holdings in Halozyme Therapeutics, Inc. $HALO

Key Points

• MetLife Investment Management LLC increased its stake in Halozyme Therapeutics, Inc. by 136.6% during the first quarter, owning 343,741 shares valued at approximately $21.9 million.
• Halozyme Therapeutics reported a 40.8% increase in revenue year-over-year for the quarter, achieving $325.72 million with earnings per share of $1.54, surpassing analyst estimates.
• Institutional investors and hedge funds collectively hold 97.79% of Halozyme Therapeutics' stock, highlighting strong institutional interest in the biopharmaceutical company.

MetLife Investment Management LLC boosted its position in Halozyme Therapeutics, Inc. (NASDAQ:HALO - Free Report) by 136.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 343,741 shares of the biopharmaceutical company's stock after acquiring an additional 198,476 shares during the quarter. MetLife Investment Management LLC owned 0.28% of Halozyme Therapeutics worth $21,934,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Congress Asset Management Co. boosted its holdings in Halozyme Therapeutics by 8.8% in the first quarter. Congress Asset Management Co. now owns 2,132,707 shares of the biopharmaceutical company's stock valued at $136,088,000 after acquiring an additional 172,971 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Halozyme Therapeutics by 4.9% in the first quarter. Dimensional Fund Advisors LP now owns 2,029,160 shares of the biopharmaceutical company's stock valued at $129,478,000 after acquiring an additional 95,600 shares during the last quarter. Northern Trust Corp boosted its holdings in Halozyme Therapeutics by 8.7% in the fourth quarter. Northern Trust Corp now owns 1,827,771 shares of the biopharmaceutical company's stock valued at $87,386,000 after acquiring an additional 145,617 shares during the last quarter. TD Asset Management Inc boosted its holdings in Halozyme Therapeutics by 5.8% in the first quarter. TD Asset Management Inc now owns 1,451,842 shares of the biopharmaceutical company's stock valued at $92,642,000 after acquiring an additional 79,708 shares during the last quarter. Finally, Fuller & Thaler Asset Management Inc. boosted its holdings in Halozyme Therapeutics by 27.3% in the first quarter. Fuller & Thaler Asset Management Inc. now owns 1,130,019 shares of the biopharmaceutical company's stock valued at $72,107,000 after acquiring an additional 242,167 shares during the last quarter. Institutional investors and hedge funds own 97.79% of the company's stock.

Halozyme Therapeutics Trading Up 0.3%

Shares of HALO opened at $71.82 on Monday. The company has a market capitalization of $8.40 billion, a P/E ratio of 16.43, a P/E/G ratio of 0.41 and a beta of 1.17. Halozyme Therapeutics, Inc. has a one year low of $42.01 and a one year high of $72.33. 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 stock has a 50-day moving average price of $58.72 and a 200 day moving average price of $58.75.

Halozyme Therapeutics (NASDAQ:HALO - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The biopharmaceutical company reported $1.54 EPS for the quarter, topping analysts' consensus estimates of $1.23 by $0.31. The firm had revenue of $325.72 million during the quarter, compared to the consensus estimate of $282.66 million. Halozyme Therapeutics had a net margin of 47.28% and a return on equity of 150.85%. The firm's revenue was up 40.8% on a year-over-year basis. During the same quarter 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. Sell-side analysts forecast that Halozyme Therapeutics, Inc. will post 4.73 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have commented on HALO shares. Benchmark cut Halozyme Therapeutics from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, May 7th. Morgan Stanley upped 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. Leerink Partners downgraded Halozyme Therapeutics from a "market perform" rating to an "underperform" rating and set a $47.00 target price for the company. in a research report on Tuesday, May 13th. Leerink Partnrs downgraded Halozyme Therapeutics from a "hold" rating to a "strong sell" rating in a research report on Tuesday, May 13th. Finally, JPMorgan Chase & Co. upped their target price on Halozyme Therapeutics from $60.00 to $63.00 and gave the stock a "neutral" rating in a research report on Thursday, August 7th. Four research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $67.11.

Insider Buying and Selling

In other Halozyme Therapeutics news, CEO Helen Torley sold 20,000 shares of Halozyme Therapeutics stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $63.51, for a total value of $1,270,200.00. Following the completion of the transaction, the chief executive officer owned 733,719 shares of the company's stock, valued at $46,598,493.69. The trade was a 2.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Insiders have sold a total of 80,000 shares of company stock valued at $4,532,600 over the last three months. Insiders own 2.40% of the company's stock.

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.

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