Skandinaviska Enskilda Banken AB publ Purchases 35,800 Shares of Halozyme Therapeutics, Inc. (NASDAQ:HALO)

Key Points

• Skandinaviska Enskilda Banken AB publ increased its holdings in Halozyme Therapeutics by 111.5%, acquiring 35,800 shares to reach a total of 67,900 shares, valued at approximately $4.33 million.
• CEO Helen Torley sold 20,000 shares of Halozyme stock for a total of $1.13 million, reducing her ownership by 2.65% to approximately $41.4 million.
• Analysts set an average price target of $62.70 for Halozyme, with ratings ranging from "strong sell" to "buy" by various brokerages.

Skandinaviska Enskilda Banken AB publ lifted its stake in shares of Halozyme Therapeutics, Inc. (NASDAQ:HALO - Free Report) by 111.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 67,900 shares of the biopharmaceutical company's stock after purchasing an additional 35,800 shares during the quarter. Skandinaviska Enskilda Banken AB publ owned about 0.05% of Halozyme Therapeutics worth $4,331,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in HALO. Assetmark Inc. raised its position in Halozyme Therapeutics by 3.1% in the 1st quarter. Assetmark Inc. now owns 105,971 shares of the biopharmaceutical company's stock valued at $6,762,000 after buying an additional 3,200 shares during the last quarter. Royce & Associates LP increased its stake in shares of Halozyme Therapeutics by 4.9% during the 1st quarter. Royce & Associates LP now owns 206,641 shares of the biopharmaceutical company's stock worth $13,186,000 after purchasing an additional 9,642 shares during the last quarter. One Wealth Advisors LLC purchased a new position in Halozyme Therapeutics in the 1st quarter valued at approximately $220,000. AE Wealth Management LLC purchased a new position in Halozyme Therapeutics in the 1st quarter valued at approximately $206,000. Finally, Abel Hall LLC purchased a new position in Halozyme Therapeutics in the 1st quarter valued at approximately $207,000. Institutional investors own 97.79% of the company's stock.

Halozyme Therapeutics Price Performance

NASDAQ:HALO traded down $1.29 during midday trading on Friday, hitting $58.68. The company had a trading volume of 602,770 shares, compared to its average volume of 1,921,455. Halozyme Therapeutics, Inc. has a 52-week low of $42.01 and a 52-week high of $70.50. The stock's fifty day moving average price is $55.08 and its 200-day moving average price is $57.63. The company has a market capitalization of $7.23 billion, a PE ratio of 15.62, a P/E/G ratio of 0.40 and a beta of 1.15. The company has a quick ratio of 7.30, a current ratio of 8.39 and a debt-to-equity ratio of 3.13.

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 (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.13. Halozyme Therapeutics had a net margin of 44.76% and a return on equity of 136.91%. The business had revenue of $264.86 million during the quarter, compared to analyst estimates of $231.21 million. During the same period in the prior year, the business posted $0.79 earnings per share. The company's revenue was up 35.2% on a year-over-year basis. As a group, research analysts expect that Halozyme Therapeutics, Inc. will post 4.73 earnings per share for the current year.

Insider Transactions at Halozyme Therapeutics

In other Halozyme Therapeutics news, CEO Helen Torley sold 20,000 shares of the company'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 directly owned 733,719 shares in the company, valued at $41,403,763.17. This represents a 2.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders have sold 60,000 shares of company stock worth $3,262,400 in the last ninety days. Corporate insiders own 2.40% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently commented on HALO. JPMorgan Chase & Co. boosted their price target on shares of Halozyme Therapeutics from $58.00 to $60.00 and gave the company a "neutral" rating in a research report on Wednesday, July 16th. Morgan Stanley lowered shares of Halozyme Therapeutics from an "overweight" rating to an "equal weight" rating and reduced their price target for the company from $73.00 to $62.00 in a research report on Wednesday, May 14th. Leerink Partnrs lowered shares of Halozyme Therapeutics from a "hold" rating to a "strong sell" rating in a research report on Tuesday, May 13th. HC Wainwright restated a "buy" rating and set a $72.00 price target on shares of Halozyme Therapeutics in a research report on Thursday, May 29th. Finally, Wells Fargo & Company boosted their price target on shares of Halozyme Therapeutics from $60.00 to $65.00 and gave the company an "equal weight" rating in a research report on Wednesday, May 7th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Halozyme Therapeutics presently has a consensus rating of "Hold" and a consensus price target of $62.70.

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.