Wellington Management Group LLP Has $2.74 Million Stake in Halozyme Therapeutics, Inc. (NASDAQ:HALO)

Wellington Management Group LLP decreased its position in shares of Halozyme Therapeutics, Inc. (NASDAQ:HALO - Free Report) by 12.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 57,370 shares of the biopharmaceutical company's stock after selling 7,787 shares during the period. Wellington Management Group LLP's holdings in Halozyme Therapeutics were worth $2,743,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Jennison Associates LLC bought a new stake in Halozyme Therapeutics in the 4th quarter valued at $731,000. abrdn plc bought a new position in Halozyme Therapeutics in the 4th quarter valued at $6,152,000. State of Alaska Department of Revenue grew its holdings in Halozyme Therapeutics by 213.4% during the 4th quarter. State of Alaska Department of Revenue now owns 46,508 shares of the biopharmaceutical company's stock worth $2,222,000 after acquiring an additional 31,670 shares during the last quarter. Financial Advocates Investment Management acquired a new stake in shares of Halozyme Therapeutics in the fourth quarter valued at approximately $478,000. Finally, Advisors Preferred LLC bought a new stake in shares of Halozyme Therapeutics during the fourth quarter worth $2,024,000. Institutional investors own 97.79% of the company's stock.

Halozyme Therapeutics Stock Performance

HALO stock traded up $0.70 during midday trading on Friday, reaching $54.25. 1,308,224 shares of the company were exchanged, compared to its average volume of 1,638,648. Halozyme Therapeutics, Inc. has a one year low of $42.01 and a one year high of $70.51. The firm has a market capitalization of $6.68 billion, a price-to-earnings ratio of 15.82, a price-to-earnings-growth ratio of 0.42 and a beta of 1.19. The business has a 50-day moving average price of $58.11 and a two-hundred day moving average price of $55.77. The company has a debt-to-equity ratio of 4.14, a current ratio of 7.80 and a quick ratio of 9.15.

Halozyme Therapeutics (NASDAQ:HALO - Get Free Report) last posted 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. Halozyme Therapeutics had a return on equity of 157.78% and a net margin of 43.74%. The firm had revenue of $264.86 million for the quarter, compared to analysts' expectations of $231.21 million. During the same quarter last year, the business earned $0.79 EPS. The company's quarterly revenue was up 35.2% compared to the same quarter last year. Equities research analysts forecast that Halozyme Therapeutics, Inc. will post 4.73 EPS for the current year.

Insider Activity

In other news, Director Jeffrey William Henderson sold 4,497 shares of the company'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 transaction, the director now owns 28,611 shares of the company's stock, valued at $1,727,246.07. This represents a 13.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 2.40% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on HALO. Benchmark lowered Halozyme Therapeutics from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, May 7th. HC Wainwright reaffirmed a "buy" rating and set a $72.00 price objective on shares of Halozyme Therapeutics in a research note on Thursday, May 29th. Leerink Partners lowered Halozyme Therapeutics from a "market perform" rating to an "underperform" rating and set a $47.00 price objective for the company. in a research report on Tuesday, May 13th. Wells Fargo & Company lifted their price target on Halozyme Therapeutics from $60.00 to $65.00 and gave the company an "equal weight" rating in a research note on Wednesday, May 7th. Finally, JPMorgan Chase & Co. raised their price target on shares of Halozyme Therapeutics from $55.00 to $58.00 and gave the stock a "neutral" rating in a research note on Monday, April 21st. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $61.90.

Halozyme Therapeutics 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.