Steamboat Capital Partners LLC Sells 99,751 Shares of Halozyme Therapeutics, Inc. $HALO

Key Points

• Steamboat Capital Partners LLC has reduced its stake in Halozyme Therapeutics by 39.9%, now owning 150,000 shares valued at approximately $9.57 million, making up 2.9% of its investment portfolio.
• Halozyme Therapeutics reported a 40.8% increase in quarterly revenue year-over-year, totaling $325.72 million, and an EPS of $1.54, beating analyst expectations.
• Institutional investors hold a significant majority (97.79%) of Halozyme's stock, indicating strong confidence in the company among larger investors.

Steamboat Capital Partners LLC cut its stake in shares of Halozyme Therapeutics, Inc. (NASDAQ:HALO - Free Report) by 39.9% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 150,000 shares of the biopharmaceutical company's stock after selling 99,751 shares during the period. Halozyme Therapeutics comprises about 2.9% of Steamboat Capital Partners LLC's investment portfolio, making the stock its 14th biggest position. Steamboat Capital Partners LLC owned approximately 0.12% of Halozyme Therapeutics worth $9,572,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Wealth Preservation Advisors LLC purchased a new position in Halozyme Therapeutics during the first quarter valued at $32,000. SVB Wealth LLC purchased a new position in shares of Halozyme Therapeutics in the first quarter valued at about $33,000. Bessemer Group Inc. lifted its position 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. Heck Capital Advisors LLC purchased a new position in shares of Halozyme Therapeutics in the fourth quarter valued at about $29,000. Finally, Brooklyn Investment Group lifted its position in shares of Halozyme Therapeutics by 1,558.1% in the first quarter. Brooklyn Investment Group now owns 713 shares of the biopharmaceutical company's stock valued at $45,000 after acquiring an additional 670 shares in the last quarter. 97.79% of the stock is currently owned by hedge funds and other institutional investors.

Halozyme Therapeutics Trading Down 1.9%

Shares of HALO traded down $1.42 during mid-day trading on Thursday, reaching $73.40. 2,759,515 shares of the company's stock traded hands, compared to its average volume of 1,968,827. The stock has a market cap of $8.59 billion, a P/E ratio of 16.80, a P/E/G ratio of 0.42 and a beta of 1.19. The stock's 50-day moving average is $61.93 and its two-hundred day moving average is $59.59. Halozyme Therapeutics, Inc. has a 12 month low of $42.01 and a 12 month high of $75.46. The company has a debt-to-equity ratio of 4.54, a current ratio of 8.36 and a quick ratio of 7.01.

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

Analyst Ratings Changes

Several equities analysts have recently commented on HALO shares. Zacks Research upgraded Halozyme Therapeutics from a "hold" rating to a "strong-buy" rating in a research report on Tuesday. JMP Securities boosted their target price on Halozyme Therapeutics from $78.00 to $91.00 and gave the stock a "market outperform" rating in a research report on Wednesday, August 6th. Wells Fargo & Company boosted their target price on Halozyme Therapeutics from $60.00 to $65.00 and gave the stock an "equal weight" rating in a research report on Wednesday, May 7th. The Goldman Sachs Group started coverage on Halozyme Therapeutics in a research report on Thursday, July 10th. They issued a "neutral" rating and a $55.00 target price on the stock. Finally, HC Wainwright boosted their price objective on Halozyme Therapeutics from $72.00 to $75.00 and gave the stock a "buy" rating in a research note on Wednesday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $67.11.

Insider Buying and Selling

In related news, CEO Helen Torley sold 20,000 shares of the business's stock in a transaction that occurred 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 sale, the chief executive officer owned 733,719 shares in the company, valued at approximately $46,598,493.69. The trade was a 2.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Bernadette Connaughton sold 4,000 shares of the business's stock in a transaction that occurred on 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 owned 46,952 shares of the company's stock, valued at $3,459,423.36. The trade was a 7.85% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 84,000 shares of company stock worth $4,827,320. Insiders own 2.90% of the company's stock.

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.