Freestone Grove Partners LP Makes New $327,000 Investment in Halozyme Therapeutics, Inc. (NASDAQ:HALO)

Freestone Grove Partners LP acquired a new stake in shares of Halozyme Therapeutics, Inc. (NASDAQ:HALO - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 6,839 shares of the biopharmaceutical company's stock, valued at approximately $327,000.

A number of other large investors also recently modified their holdings of the company. Norges Bank bought a new position in shares of Halozyme Therapeutics in the fourth quarter worth approximately $60,054,000. Capital World Investors purchased a new stake in shares of Halozyme Therapeutics during the fourth quarter worth about $35,773,000. Arrowstreet Capital Limited Partnership grew its stake in shares of Halozyme Therapeutics by 141.3% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 992,887 shares of the biopharmaceutical company's stock worth $47,470,000 after purchasing an additional 581,475 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Halozyme Therapeutics in the fourth quarter worth about $21,838,000. Finally, Vanguard Group Inc. increased its holdings in Halozyme Therapeutics by 3.0% during the 4th quarter. Vanguard Group Inc. now owns 13,281,714 shares of the biopharmaceutical company's stock valued at $634,999,000 after purchasing an additional 386,618 shares during the period. 97.79% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Jeffrey William Henderson sold 4,497 shares of the firm's stock in a transaction 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 transaction, the director now directly owns 28,611 shares in the company, valued at $1,727,246.07. This trade represents a 13.58 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, SVP Michael J. Labarre sold 1,697 shares of Halozyme Therapeutics stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $58.28, for a total value of $98,901.16. Following the completion of the sale, the senior vice president now directly owns 173,756 shares of the company's stock, valued at $10,126,499.68. The trade was a 0.97 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 21,697 shares of company stock valued at $1,276,552. Corporate insiders own 2.90% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. lifted their price objective on Halozyme Therapeutics from $55.00 to $58.00 and gave the stock a "neutral" rating in a research report on Monday, April 21st. HC Wainwright reissued a "buy" rating and set a $72.00 price objective on shares of Halozyme Therapeutics in a research report on Friday, April 25th. Benchmark cut shares of Halozyme Therapeutics from a "strong-buy" rating to a "hold" rating in a research report on Wednesday. Piper Sandler increased their price target on shares of Halozyme Therapeutics from $52.00 to $53.00 and gave the stock a "neutral" rating in a research note on Friday, January 10th. Finally, Wells Fargo & Company upped their target price on Halozyme Therapeutics from $60.00 to $65.00 and gave the stock an "equal weight" rating in a report on Wednesday. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $63.78.

Halozyme Therapeutics Stock Down 2.8 %

Shares of NASDAQ:HALO traded down $1.87 on Friday, hitting $65.86. 2,501,725 shares of the company traded hands, compared to its average volume of 1,499,455. The stock has a 50 day simple moving average of $61.45 and a 200-day simple moving average of $55.83. The company has a quick ratio of 9.15, a current ratio of 7.80 and a debt-to-equity ratio of 4.14. The company has a market cap of $8.14 billion, a PE ratio of 19.20, a PEG ratio of 0.42 and a beta of 1.26. Halozyme Therapeutics, Inc. has a 52 week low of $42.01 and a 52 week high of $70.51.

Halozyme Therapeutics (NASDAQ:HALO - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The biopharmaceutical company reported $1.11 earnings per share for the quarter, beating analysts' consensus estimates of $0.98 by $0.13. The business had revenue of $264.86 million during the quarter, compared to analyst estimates of $231.21 million. Halozyme Therapeutics had a net margin of 43.74% and a return on equity of 157.78%. Halozyme Therapeutics's revenue was up 35.2% compared to the same quarter last year. During the same period last year, the business earned $0.79 EPS. As a group, research analysts expect that Halozyme Therapeutics, Inc. will post 4.73 earnings per share for the current year.

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.