Redwood Investments LLC Increases Position in Halozyme Therapeutics, Inc. $HALO

Key Points

• Redwood Investments LLC has increased its stake in Halozyme Therapeutics, Inc. by 25.3%, acquiring an additional 8,146 shares, bringing its total holdings to 40,335 shares valued at approximately $2.57 million.
• Several institutional investors have also made new investments in Halozyme, with 97.79% of the company's stock now owned by institutional investors.
• Insider trading includes substantial sales, with CEO Helen Torley and Director Bernadette Connaughton selling significant numbers of shares recently, representing decreases in their ownership percentages.

Redwood Investments LLC boosted its stake in Halozyme Therapeutics, Inc. (NASDAQ:HALO - Free Report) by 25.3% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 40,335 shares of the biopharmaceutical company's stock after purchasing an additional 8,146 shares during the period. Redwood Investments LLC's holdings in Halozyme Therapeutics were worth $2,574,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in HALO. Caisse DE Depot ET Placement DU Quebec raised its position in Halozyme Therapeutics by 154.5% in the first 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 purchasing an additional 552,590 shares during the period. D. E. Shaw & Co. Inc. raised its position in Halozyme Therapeutics by 171.2% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 831,414 shares of the biopharmaceutical company's stock valued at $39,750,000 after purchasing an additional 524,802 shares during the period. LSV Asset Management raised its position in Halozyme Therapeutics by 41.9% in the first quarter. LSV Asset Management now owns 895,191 shares of the biopharmaceutical company's stock valued at $57,122,000 after purchasing an additional 264,130 shares during the period. Fuller & Thaler Asset Management Inc. raised its position 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 purchasing an additional 242,167 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Halozyme Therapeutics in the fourth quarter valued at approximately $10,032,000. Hedge funds and other institutional investors own 97.79% of the company's stock.

Insider Activity

In other news, Director Bernadette Connaughton sold 4,000 shares of the company's stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $73.68, for a total value of $294,720.00. Following the completion of the sale, the director directly owned 46,952 shares of the company's stock, valued at approximately $3,459,423.36. This represents a 7.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Nicole Labrosse sold 20,000 shares of the company's stock in a transaction dated Wednesday, September 10th. The shares were sold at an average price of $75.71, for a total transaction of $1,514,200.00. Following the completion of the sale, the chief financial officer directly owned 24,306 shares of the company's stock, valued at $1,840,207.26. The trade was a 45.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 124,000 shares of company stock valued at $7,830,320. Insiders own 2.40% of the company's stock.

Halozyme Therapeutics Stock Performance

NASDAQ HALO traded down $0.63 during trading hours on Friday, hitting $76.90. The company had a trading volume of 1,121,085 shares, compared to its average volume of 1,930,531. The company has a debt-to-equity ratio of 4.54, a quick ratio of 7.01 and a current ratio of 8.36. Halozyme Therapeutics, Inc. has a 1-year low of $42.01 and a 1-year high of $77.60. The company has a market cap of $8.99 billion, a PE ratio of 17.60, a price-to-earnings-growth ratio of 0.43 and a beta of 1.19. The business has a 50 day moving average of $65.11 and a 200-day moving average of $60.45.

Halozyme Therapeutics (NASDAQ:HALO - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The biopharmaceutical company reported $1.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.23 by $0.31. Halozyme Therapeutics had a net margin of 47.28% and a return on equity of 150.85%. The company had revenue of $325.72 million during the quarter, compared to the consensus estimate of $282.66 million. During the same quarter in the prior year, the firm posted $0.91 earnings per share. Halozyme Therapeutics'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. As a group, equities research analysts expect that Halozyme Therapeutics, Inc. will post 4.73 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on HALO shares. The Goldman Sachs Group started coverage on Halozyme Therapeutics in a research report on Thursday, July 10th. They set a "neutral" rating and a $55.00 price objective on the stock. Morgan Stanley boosted their target price on shares of Halozyme Therapeutics from $75.00 to $80.00 and gave the stock an "overweight" rating in a research note on Monday, August 18th. JPMorgan Chase & Co. boosted their target price on shares of Halozyme Therapeutics from $60.00 to $63.00 and gave the stock a "neutral" rating in a research note on Thursday, August 7th. JMP Securities boosted their target price on shares of Halozyme Therapeutics from $78.00 to $91.00 and gave the stock a "market outperform" rating in a research note on Wednesday, August 6th. Finally, Zacks Research upgraded shares of Halozyme Therapeutics from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, September 2nd. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, five have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, Halozyme Therapeutics presently has an average rating of "Hold" and an average 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.