Thrivent Financial for Lutherans Sells 67,074 Shares of Halozyme Therapeutics, Inc. $HALO

Key Points

• Thrivent Financial for Lutherans sharply reduced its Halozyme Therapeutics stake by 71.7% in the fourth quarter, selling 67,074 shares and leaving it with 26,481 shares worth about $1.78 million.
• Insider selling has also been notable: COO Cortney Caudill and Director Bernadette Connaughton both sold shares recently, and insiders sold a total of 120,482 shares worth about $8.2 million over the last 90 days.
• Despite the selling, analysts remain cautiously positive on HALO, with a consensus rating of “Moderate Buy” and an average price target of $80.67; the company also beat Q1 earnings and revenue estimates.

Thrivent Financial for Lutherans lessened its stake in shares of Halozyme Therapeutics, Inc. (NASDAQ:HALO - Free Report) by 71.7% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 26,481 shares of the biopharmaceutical company's stock after selling 67,074 shares during the period. Thrivent Financial for Lutherans' holdings in Halozyme Therapeutics were worth $1,782,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Root Financial Partners LLC bought a new stake in Halozyme Therapeutics during the third quarter valued at about $25,000. Larson Financial Group LLC grew its holdings in Halozyme Therapeutics by 3,118.2% during the third quarter. Larson Financial Group LLC now owns 354 shares of the biopharmaceutical company's stock valued at $26,000 after purchasing an additional 343 shares during the period. Clearstead Advisors LLC grew its holdings in Halozyme Therapeutics by 107.7% during the third quarter. Clearstead Advisors LLC now owns 511 shares of the biopharmaceutical company's stock valued at $37,000 after purchasing an additional 265 shares during the period. Penserra Capital Management LLC bought a new stake in Halozyme Therapeutics during the third quarter valued at about $52,000. Finally, Wexford Capital LP bought a new stake in Halozyme Therapeutics during the third quarter valued at about $70,000. Institutional investors own 97.79% of the company's stock.

Insider Transactions at Halozyme Therapeutics

In other news, COO Cortney Caudill sold 20,000 shares of the company's stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $67.80, for a total value of $1,356,000.00. Following the completion of the transaction, the chief operating officer owned 14,366 shares of the company's stock, valued at $974,014.80. This represents a 58.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Bernadette Connaughton sold 1,625 shares of the company's stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $63.48, for a total value of $103,155.00. Following the completion of the transaction, the director directly owned 38,498 shares of the company's stock, valued at approximately $2,443,853.04. This trade represents a 4.05% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 120,482 shares of company stock valued at $8,200,842 over the last 90 days. Company insiders own 2.50% of the company's stock.

Analyst Upgrades and Downgrades

HALO has been the subject of several recent research reports. Morgan Stanley cut their price target on Halozyme Therapeutics from $96.00 to $93.00 and set an "overweight" rating for the company in a report on Tuesday, May 12th. Wells Fargo & Company boosted their price target on Halozyme Therapeutics from $65.00 to $75.00 and gave the company an "equal weight" rating in a report on Thursday, February 19th. TD Cowen reissued a "buy" rating on shares of Halozyme Therapeutics in a report on Wednesday, February 18th. Weiss Ratings raised Halozyme Therapeutics from a "hold (c)" rating to a "buy (b-)" rating in a report on Tuesday, May 12th. Finally, Wall Street Zen raised Halozyme Therapeutics from a "hold" rating to a "buy" rating in a report on Saturday, May 16th. Seven equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, Halozyme Therapeutics has an average rating of "Moderate Buy" and an average target price of $80.67.

Halozyme Therapeutics Stock Performance

NASDAQ HALO opened at $68.65 on Thursday. The firm has a market cap of $8.14 billion, a price-to-earnings ratio of 24.69, a price-to-earnings-growth ratio of 0.28 and a beta of 0.89. The company has a quick ratio of 2.33, a current ratio of 2.76 and a debt-to-equity ratio of 8.81. The business has a 50-day moving average price of $66.03 and a 200-day moving average price of $68.77. Halozyme Therapeutics, Inc. has a twelve month low of $51.06 and a twelve month high of $82.22.

Halozyme Therapeutics (NASDAQ:HALO - Get Free Report) last released its quarterly earnings data on Monday, May 11th. The biopharmaceutical company reported $1.60 earnings per share for the quarter, topping analysts' consensus estimates of $1.54 by $0.06. The firm had revenue of $376.71 million during the quarter, compared to analyst estimates of $358.60 million. Halozyme Therapeutics had a return on equity of 187.91% and a net margin of 23.13%.The business's quarterly revenue was up 42.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.11 earnings per share. Halozyme Therapeutics has set its FY 2026 guidance at 7.750-8.250 EPS. As a group, equities research analysts predict that Halozyme Therapeutics, Inc. will post 7.65 EPS for the current fiscal year.

Halozyme Therapeutics Profile

Halozyme Therapeutics, Inc is a biopharmaceutical company headquartered in San Diego, California, that specializes in the development and commercialization of novel drug-delivery technologies. Founded in 1998, Halozyme focuses on enabling subcutaneous administration of biologic therapies through its proprietary platforms. The company's core mission is to improve patient access and convenience while maintaining efficacy and safety profiles comparable to or better than traditional routes of administration.

The company's flagship technology, ENHANZE®, is based on recombinant human hyaluronidase PH20 (rHuPH20), an enzyme that transiently degrades hyaluronan in the extracellular matrix.

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