Tectonic Advisors LLC Decreases Holdings in Halozyme Therapeutics, Inc. $HALO

Key Points

• Tectonic Advisors LLC reduced its stake in Halozyme Therapeutics by 17.2%, owning 25,291 shares after selling 5,268 during the second quarter.
• Halozyme Therapeutics recently received mixed evaluations from analysts, with Weiss Ratings upgrading it to a "buy," while others like Zacks downgraded it to a "hold."
• Insider transactions showed significant selling activity, with CFO Nicole Labrosse selling 20,000 shares for approximately $1.5 million, reducing her holding by 45.14%.

Tectonic Advisors LLC cut its stake in shares of Halozyme Therapeutics, Inc. (NASDAQ:HALO - Free Report) by 17.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 25,291 shares of the biopharmaceutical company's stock after selling 5,268 shares during the period. Tectonic Advisors LLC's holdings in Halozyme Therapeutics were worth $1,316,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in HALO. Wealth Preservation Advisors LLC purchased a new stake in Halozyme Therapeutics during the 1st quarter valued at $32,000. SVB Wealth LLC purchased a new stake in Halozyme Therapeutics during the 1st quarter valued at $33,000. Bessemer Group Inc. raised its stake in Halozyme Therapeutics by 62.9% during the 1st quarter. Bessemer Group Inc. now owns 536 shares of the biopharmaceutical company's stock valued at $34,000 after buying an additional 207 shares during the last quarter. Brooklyn Investment Group raised its stake in Halozyme Therapeutics by 1,558.1% during the 1st quarter. Brooklyn Investment Group now owns 713 shares of the biopharmaceutical company's stock valued at $45,000 after buying an additional 670 shares during the last quarter. Finally, Park Place Capital Corp raised its stake in Halozyme Therapeutics by 20.1% during the 1st quarter. Park Place Capital Corp now owns 1,086 shares of the biopharmaceutical company's stock valued at $69,000 after buying an additional 182 shares during the last quarter. 97.79% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

HALO has been the subject of a number of recent research reports. Weiss Ratings raised shares of Halozyme Therapeutics from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Wednesday. JMP Securities boosted their price objective on shares of Halozyme Therapeutics from $78.00 to $91.00 and gave the company a "market outperform" rating in a research report on Wednesday, August 6th. Wall Street Zen downgraded shares of Halozyme Therapeutics from a "strong-buy" rating to a "buy" rating in a research report on Friday, September 5th. The Goldman Sachs Group initiated coverage on shares of Halozyme Therapeutics in a research report on Thursday, July 10th. They set a "neutral" rating and a $55.00 price objective for the company. Finally, Zacks Research downgraded shares of Halozyme Therapeutics from a "strong-buy" rating to a "hold" rating in a research report on Monday. Six analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $70.44.

Insider Buying and Selling

In related news, CFO Nicole Labrosse sold 20,000 shares of the company's stock in a transaction on Wednesday, September 10th. The shares were sold at an average price of $75.71, for a total value of $1,514,200.00. Following the completion of the transaction, the chief financial officer owned 24,306 shares of the company's stock, valued at approximately $1,840,207.26. This represents a 45.14% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Bernadette Connaughton sold 4,000 shares of the company's stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $73.68, for a total transaction of $294,720.00. Following the completion of the transaction, the director directly owned 46,952 shares of the company's stock, valued at $3,459,423.36. This represents a 7.85% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 108,227 shares of company stock valued at $7,779,595. Company insiders own 2.40% of the company's stock.

Halozyme Therapeutics Trading Down 0.1%

Shares of Halozyme Therapeutics stock opened at $65.11 on Friday. The company has a market capitalization of $7.62 billion, a P/E ratio of 14.90, a P/E/G ratio of 0.35 and a beta of 1.16. The company has a debt-to-equity ratio of 4.54, a quick ratio of 7.01 and a current ratio of 8.36. The company has a fifty day moving average of $70.98 and a 200 day moving average of $62.00. Halozyme Therapeutics, Inc. has a fifty-two week low of $42.01 and a fifty-two week high of $79.50.

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

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.

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