Readystate Asset Management LP Raises Stock Position in Halozyme Therapeutics, Inc. (NASDAQ:HALO)

Readystate Asset Management LP increased its stake in shares of Halozyme Therapeutics, Inc. (NASDAQ:HALO - Free Report) by 11.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 89,705 shares of the biopharmaceutical company's stock after acquiring an additional 9,321 shares during the quarter. Readystate Asset Management LP owned approximately 0.07% of Halozyme Therapeutics worth $5,724,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Xponance Inc. boosted its holdings in Halozyme Therapeutics by 6.0% during the 4th quarter. Xponance Inc. now owns 18,454 shares of the biopharmaceutical company's stock worth $882,000 after acquiring an additional 1,051 shares during the last quarter. Teacher Retirement System of Texas grew its stake in shares of Halozyme Therapeutics by 17.5% in the 4th quarter. Teacher Retirement System of Texas now owns 37,516 shares of the biopharmaceutical company's stock worth $1,794,000 after acquiring an additional 5,594 shares in the last quarter. Quantbot Technologies LP grew its stake in shares of Halozyme Therapeutics by 193.1% in the 4th quarter. Quantbot Technologies LP now owns 7,661 shares of the biopharmaceutical company's stock worth $366,000 after acquiring an additional 5,047 shares in the last quarter. American Century Companies Inc. grew its stake in shares of Halozyme Therapeutics by 1.8% in the 4th quarter. American Century Companies Inc. now owns 866,366 shares of the biopharmaceutical company's stock worth $41,421,000 after acquiring an additional 15,079 shares in the last quarter. Finally, KLP Kapitalforvaltning AS bought a new stake in shares of Halozyme Therapeutics in the 4th quarter worth $1,253,000. 97.79% of the stock is owned by institutional investors.

Halozyme Therapeutics Stock Down 0.7%

Shares of HALO traded down $0.41 during trading hours on Friday, hitting $58.36. The company had a trading volume of 518,375 shares, compared to its average volume of 1,935,167. The company has a market capitalization of $7.19 billion, a PE ratio of 15.52, a price-to-earnings-growth ratio of 0.39 and a beta of 1.15. The company has a current ratio of 8.39, a quick ratio of 7.30 and a debt-to-equity ratio of 3.13. Halozyme Therapeutics, Inc. has a one year low of $42.01 and a one year high of $70.50. The company's fifty day moving average price is $54.63 and its two-hundred day moving average price is $57.46.

Halozyme Therapeutics (NASDAQ:HALO - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The biopharmaceutical company reported $1.11 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.13. The business had revenue of $264.86 million for the quarter, compared to the consensus estimate of $231.21 million. Halozyme Therapeutics had a return on equity of 136.91% and a net margin of 44.76%. The company's quarterly revenue was up 35.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.79 EPS. As a group, equities analysts forecast that Halozyme Therapeutics, Inc. will post 4.73 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently issued reports on HALO. Benchmark lowered shares of Halozyme Therapeutics from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, May 7th. Leerink Partners lowered shares of Halozyme Therapeutics from a "market perform" rating to an "underperform" rating and set a $47.00 target price for the company. in a research note on Tuesday, May 13th. The Goldman Sachs Group started coverage on shares of Halozyme Therapeutics in a report on Thursday, July 10th. They issued a "neutral" rating and a $55.00 price target on the stock. JPMorgan Chase & Co. boosted their price target on shares of Halozyme Therapeutics from $58.00 to $60.00 and gave the stock a "neutral" rating in a report on Wednesday, July 16th. Finally, Leerink Partnrs cut Halozyme Therapeutics from a "hold" rating to a "strong sell" rating in a research note on Tuesday, May 13th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $62.70.

Insider Buying and Selling

In other news, Director Jeffrey William Henderson sold 4,497 shares of the business's stock in a transaction dated Monday, April 28th. The shares were sold at an average price of $60.37, for a total transaction of $271,483.89. Following the transaction, the director owned 28,611 shares of the company's stock, valued at approximately $1,727,246.07. The trade was a 13.58% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Helen Torley sold 20,000 shares of the business's stock in a transaction dated Wednesday, July 9th. The shares were sold at an average price of $56.43, for a total transaction of $1,128,600.00. Following the completion of the sale, the chief executive officer owned 733,719 shares in the company, valued at approximately $41,403,763.17. This trade represents a 2.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 64,497 shares of company stock valued at $3,533,884 over the last 90 days. Company insiders own 2.40% of the company's stock.

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.