Price T Rowe Associates Inc. MD Lowers Position in Halozyme Therapeutics, Inc. $HALO

Key Points

• Price T Rowe Associates Inc. has reduced its holdings in Halozyme Therapeutics by 2.6%, retaining 1,186,730 shares valued at approximately $75.7 million, following a sale of 31,596 shares during the first quarter.
• Insider transactions reveal that CEO Helen Torley sold 20,000 shares valued at over $1.27 million, reducing her ownership by 2.65% to 733,719 shares.
• Halozyme reported a strong quarterly performance with earnings per share of $1.54, surpassing estimates, and a revenue increase of 40.8% year-over-year, leading analysts to set a consensus target price of $67.11.

Price T Rowe Associates Inc. MD reduced its stake in shares of Halozyme Therapeutics, Inc. (NASDAQ:HALO - Free Report) by 2.6% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 1,186,730 shares of the biopharmaceutical company's stock after selling 31,596 shares during the period. Price T Rowe Associates Inc. MD owned about 0.96% of Halozyme Therapeutics worth $75,726,000 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. Isthmus Partners LLC grew its holdings in shares of Halozyme Therapeutics by 2.5% in the first quarter. Isthmus Partners LLC now owns 6,875 shares of the biopharmaceutical company's stock valued at $439,000 after acquiring an additional 169 shares in the last quarter. OneDigital Investment Advisors LLC grew its holdings in shares of Halozyme Therapeutics by 1.7% in the first quarter. OneDigital Investment Advisors LLC now owns 10,176 shares of the biopharmaceutical company's stock valued at $649,000 after acquiring an additional 175 shares in the last quarter. Park Place Capital Corp grew its holdings in shares of Halozyme Therapeutics by 20.1% in the first quarter. Park Place Capital Corp now owns 1,086 shares of the biopharmaceutical company's stock valued at $69,000 after acquiring an additional 182 shares in the last quarter. Xponance Inc. grew its holdings in shares of Halozyme Therapeutics by 1.1% in the first quarter. Xponance Inc. now owns 18,652 shares of the biopharmaceutical company's stock valued at $1,190,000 after acquiring an additional 198 shares in the last quarter. Finally, Bessemer Group Inc. grew 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 acquiring an additional 207 shares in the last quarter. 97.79% of the stock is owned by institutional investors.

Insider Activity at Halozyme Therapeutics

In other news, CEO Helen Torley sold 20,000 shares of the firm's stock in a transaction on Tuesday, August 12th. The stock was 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 directly owned 733,719 shares of the company's stock, valued at $46,598,493.69. This trade represents a 2.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold 80,000 shares of company stock valued at $4,532,600 over the last three months. 2.90% of the stock is owned by company insiders.

Halozyme Therapeutics Stock Performance

Shares of Halozyme Therapeutics stock traded up $0.34 during trading hours on Friday, reaching $73.15. The company had a trading volume of 1,163,957 shares, compared to its average volume of 2,229,040. Halozyme Therapeutics, Inc. has a one year low of $42.01 and a one year high of $74.07. The business has a fifty day simple moving average of $60.68 and a 200 day simple moving average of $59.28. The company has a debt-to-equity ratio of 4.54, a current ratio of 8.36 and a quick ratio of 7.01. The firm has a market cap of $8.56 billion, a PE ratio of 16.74, a price-to-earnings-growth ratio of 0.42 and a beta of 1.19.

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

Wall Street Analyst Weigh In

HALO has been the topic of several research analyst reports. HC Wainwright upped their price objective on Halozyme Therapeutics from $72.00 to $75.00 and gave the company a "buy" rating in a research note on Wednesday, August 6th. Leerink Partners downgraded Halozyme Therapeutics from a "market perform" rating to an "underperform" rating and set a $47.00 price objective on the stock. in a research note on Tuesday, May 13th. The Goldman Sachs Group initiated coverage on Halozyme Therapeutics in a research note on Thursday, July 10th. They issued a "neutral" rating and a $55.00 price objective on the stock. JPMorgan Chase & Co. upped their price objective on Halozyme Therapeutics from $60.00 to $63.00 and gave the company a "neutral" rating in a research note on Thursday, August 7th. Finally, Morgan Stanley upped their price objective on Halozyme Therapeutics from $75.00 to $80.00 and gave the company an "overweight" rating in a research note on Monday, August 18th. Four equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat.com, Halozyme Therapeutics presently has an average rating of "Hold" and a consensus price target of $67.11.

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.