Wellington Management Group LLP Trims Stock Position in Halozyme Therapeutics, Inc. $HALO

Key Points

• Wellington Management Group LLP decreased its stake in Halozyme Therapeutics by 7.1%, now holding 53,301 shares valued at approximately $3.4 million.
• CEO Helen Torley sold 20,000 shares of the company, reducing her ownership to 733,719 shares worth about $46.6 million.
• Halozyme Therapeutics reported a 40.8% year-over-year increase in revenue, achieving $325.72 million for the quarter and earnings per share of $1.54.

Wellington Management Group LLP trimmed its position in shares of Halozyme Therapeutics, Inc. (NASDAQ:HALO - Free Report) by 7.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 53,301 shares of the biopharmaceutical company's stock after selling 4,069 shares during the period. Wellington Management Group LLP's holdings in Halozyme Therapeutics were worth $3,401,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. Congress Asset Management Co. raised its stake in shares of Halozyme Therapeutics by 8.8% during the first quarter. Congress Asset Management Co. now owns 2,132,707 shares of the biopharmaceutical company's stock valued at $136,088,000 after acquiring an additional 172,971 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Halozyme Therapeutics by 4.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,029,160 shares of the biopharmaceutical company's stock valued at $129,478,000 after purchasing an additional 95,600 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of Halozyme Therapeutics by 8.7% in the 4th quarter. Northern Trust Corp now owns 1,827,771 shares of the biopharmaceutical company's stock worth $87,386,000 after buying an additional 145,617 shares during the period. TD Asset Management Inc increased its stake in shares of Halozyme Therapeutics by 5.8% during the first quarter. TD Asset Management Inc now owns 1,451,842 shares of the biopharmaceutical company's stock valued at $92,642,000 after buying an additional 79,708 shares during the period. Finally, American Century Companies Inc. raised its holdings in shares of Halozyme Therapeutics by 3.4% in the first quarter. American Century Companies Inc. now owns 895,412 shares of the biopharmaceutical company's stock valued at $57,136,000 after acquiring an additional 29,046 shares in the last quarter. Hedge funds and other institutional investors own 97.79% of the company's stock.

Halozyme Therapeutics Stock Performance

HALO traded up $0.90 during midday trading on Wednesday, hitting $74.24. 1,410,315 shares of the company were exchanged, compared to its average volume of 1,966,256. The company's 50 day simple moving average is $61.48 and its 200 day simple moving average is $59.48. The firm has a market capitalization of $8.68 billion, a price-to-earnings ratio of 17.00, a price-to-earnings-growth ratio of 0.42 and a beta of 1.19. Halozyme Therapeutics, Inc. has a 1-year low of $42.01 and a 1-year high of $74.94. The company has a current ratio of 8.36, a quick ratio of 7.01 and a debt-to-equity ratio of 4.54.

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

Insider Activity

In other news, Director Bernadette Connaughton sold 4,000 shares of the stock in a transaction dated 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 directly owned 46,952 shares in the company, valued at $3,459,423.36. This represents a 7.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Helen Torley sold 20,000 shares of the business's stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $63.51, for a total transaction of $1,270,200.00. Following the transaction, the chief executive officer owned 733,719 shares in the company, valued at $46,598,493.69. The trade was a 2.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 84,000 shares of company stock valued at $4,827,320. Insiders own 2.90% of the company's stock.

Analyst Upgrades and Downgrades

HALO has been the subject of several analyst reports. Morgan Stanley increased their price objective on Halozyme Therapeutics from $75.00 to $80.00 and gave the company an "overweight" rating in a report on Monday, August 18th. HC Wainwright increased their price objective on shares of Halozyme Therapeutics from $72.00 to $75.00 and gave the company a "buy" rating in a research report on Wednesday, August 6th. Benchmark downgraded shares of Halozyme Therapeutics from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, May 7th. Leerink Partnrs cut shares of Halozyme Therapeutics from a "hold" rating to a "strong sell" rating in a report on Tuesday, May 13th. Finally, Leerink Partners downgraded shares of Halozyme Therapeutics from a "market perform" rating to an "underperform" rating and set a $47.00 price objective for the company. in a research note on Tuesday, May 13th. Four research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $67.11.

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.