Victory Capital Management Inc. Trims Stock Holdings in Halozyme Therapeutics, Inc. (NASDAQ:HALO)

Victory Capital Management Inc. reduced its position in shares of Halozyme Therapeutics, Inc. (NASDAQ:HALO - Free Report) by 4.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 623,020 shares of the biopharmaceutical company's stock after selling 27,731 shares during the quarter. Victory Capital Management Inc. owned 0.50% of Halozyme Therapeutics worth $39,755,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Penserra Capital Management LLC acquired a new position in shares of Halozyme Therapeutics in the first quarter valued at about $125,000. Bessemer Group Inc. raised its stake in Halozyme Therapeutics by 62.9% during the first quarter. Bessemer Group Inc. now owns 536 shares of the biopharmaceutical company's stock worth $34,000 after buying an additional 207 shares during the last quarter. D. E. Shaw & Co. Inc. grew its position in shares of Halozyme Therapeutics by 171.2% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 831,414 shares of the biopharmaceutical company's stock worth $39,750,000 after buying an additional 524,802 shares during the period. Fifth Third Bancorp grew its position in shares of Halozyme Therapeutics by 29.4% during the 1st quarter. Fifth Third Bancorp now owns 10,017 shares of the biopharmaceutical company's stock worth $639,000 after buying an additional 2,276 shares during the period. Finally, GAMMA Investing LLC grew its position in Halozyme Therapeutics by 199.0% in the 1st quarter. GAMMA Investing LLC now owns 2,802 shares of the biopharmaceutical company's stock valued at $179,000 after purchasing an additional 1,865 shares during the period. 97.79% of the stock is owned by institutional investors.

Halozyme Therapeutics Stock Performance

Shares of NASDAQ HALO traded up $1.02 during mid-day trading on Wednesday, reaching $58.56. 994,990 shares of the company's stock were exchanged, compared to its average volume of 1,751,690. The firm has a 50-day moving average price of $54.44 and a two-hundred day moving average price of $57.41. Halozyme Therapeutics, Inc. has a 52 week low of $42.01 and a 52 week high of $70.51. The firm has a market capitalization of $7.22 billion, a price-to-earnings ratio of 15.57, a price-to-earnings-growth ratio of 0.38 and a beta of 1.15. The company has a debt-to-equity ratio of 3.13, a current ratio of 8.39 and a quick ratio of 7.30.

Halozyme Therapeutics (NASDAQ:HALO - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The biopharmaceutical company reported $1.11 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.13. The company had revenue of $264.86 million during the quarter, compared to analyst estimates of $231.21 million. Halozyme Therapeutics had a return on equity of 136.91% and a net margin of 44.76%. The firm's revenue for the quarter was up 35.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.79 EPS. Analysts predict that Halozyme Therapeutics, Inc. will post 4.73 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Leerink Partnrs downgraded 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 objective on shares of Halozyme Therapeutics in a research note on Thursday, May 29th. The Goldman Sachs Group initiated coverage on Halozyme Therapeutics in a research note on Thursday, July 10th. They set a "neutral" rating and a $55.00 price objective on the stock. Leerink Partners cut Halozyme Therapeutics from a "market perform" rating to an "underperform" rating and set a $47.00 price objective on the stock. in a research note on Tuesday, May 13th. Finally, Morgan Stanley cut Halozyme Therapeutics from an "overweight" rating to an "equal weight" rating and dropped their price objective for the company from $73.00 to $62.00 in a research note on Wednesday, May 14th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $62.70.

Insider Activity

In related news, CEO Helen Torley sold 20,000 shares of the business's stock in a transaction that occurred on Wednesday, July 9th. The stock was sold at an average price of $56.43, for a total value of $1,128,600.00. Following the completion of the sale, the chief executive officer owned 733,719 shares in the company, valued at $41,403,763.17. The trade was a 2.65% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Jeffrey William Henderson sold 4,497 shares of the business's stock in a transaction that occurred on Monday, April 28th. The stock was sold at an average price of $60.37, for a total value of $271,483.89. Following the completion of the sale, the director owned 28,611 shares of the company's stock, valued at $1,727,246.07. The trade was a 13.58% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 64,497 shares of company stock valued at $3,533,884 in the last three months. 2.40% of the stock is owned by insiders.

About Halozyme Therapeutics

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.