Insider Selling: Halozyme Therapeutics (NASDAQ:HALO) COO Sells 20,000 Shares of Stock

Key Points

• COO Cortney Caudill sold 20,000 shares on March 9 at $67.80 (~$1.356M) and 8,857 shares on March 10 at $67.64 (~$599K), totaling ~28,857 shares sold for about $1.955M and cutting her stake by 58.2% to 14,366 shares.
• Halozyme reported a quarterly EPS of ($0.24) versus consensus $1.92—a large miss—while revenue grew 51.6% to $451.8M; the stock has an $8B market cap and an average analyst rating of "Hold" with a $78.56 consensus price target.

Halozyme Therapeutics, Inc. (NASDAQ:HALO - Get Free Report) COO Cortney Caudill sold 20,000 shares of the stock in a transaction on Monday, March 9th. The shares were sold at an average price of $67.80, for a total transaction of $1,356,000.00. Following the transaction, the chief operating officer owned 14,366 shares in the company, valued at $974,014.80. This trade represents a 58.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Cortney Caudill also recently made the following trade(s):

• On Tuesday, March 10th, Cortney Caudill sold 8,857 shares of Halozyme Therapeutics stock. The stock was sold at an average price of $67.64, for a total value of $599,087.48.

Halozyme Therapeutics Stock Performance

Halozyme Therapeutics stock traded down $0.33 during mid-day trading on Tuesday, reaching $67.81. The company's stock had a trading volume of 1,353,725 shares, compared to its average volume of 1,907,861. The business has a 50 day moving average price of $72.64 and a 200-day moving average price of $70.67. The company has a current ratio of 4.66, a quick ratio of 3.66 and a debt-to-equity ratio of 43.89. Halozyme Therapeutics, Inc. has a twelve month low of $47.50 and a twelve month high of $82.22. The firm has a market cap of $8.00 billion, a price-to-earnings ratio of 18.03, a PEG ratio of 0.28 and a beta of 0.98.

Halozyme Therapeutics (NASDAQ:HALO - Get Free Report) last issued its earnings results on Tuesday, February 17th. The biopharmaceutical company reported ($0.24) EPS for the quarter, missing analysts' consensus estimates of $1.92 by ($2.16). The company had revenue of $451.77 million during the quarter, compared to analyst estimates of $446.13 million. Halozyme Therapeutics had a net margin of 22.69% and a return on equity of 136.12%. The business's revenue was up 51.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.26 earnings per share. Sell-side analysts predict that Halozyme Therapeutics, Inc. will post 4.73 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have issued reports on HALO shares. HC Wainwright reiterated a "buy" rating on shares of Halozyme Therapeutics in a research report on Thursday, January 29th. Wall Street Zen lowered Halozyme Therapeutics from a "strong-buy" rating to a "hold" rating in a research note on Saturday, February 21st. TD Cowen reissued a "buy" rating on shares of Halozyme Therapeutics in a research note on Wednesday, February 18th. Wells Fargo & Company boosted their price target on shares of Halozyme Therapeutics from $65.00 to $75.00 and gave the stock an "equal weight" rating in a research report on Thursday, February 19th. Finally, The Goldman Sachs Group reaffirmed a "sell" rating and issued a $56.00 price target on shares of Halozyme Therapeutics in a report on Thursday, December 4th. Six analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Halozyme Therapeutics currently has an average rating of "Hold" and a consensus price target of $78.56.

Institutional Investors Weigh In On Halozyme Therapeutics

Hedge funds have recently bought and sold shares of the business. DLD Asset Management LP acquired a new stake in shares of Halozyme Therapeutics during the second quarter worth approximately $650,250,000. Norges Bank purchased a new stake in Halozyme Therapeutics in the 4th quarter worth approximately $128,201,000. William Blair Investment Management LLC acquired a new stake in shares of Halozyme Therapeutics during the 4th quarter valued at $124,031,000. Arrowstreet Capital Limited Partnership grew its holdings in shares of Halozyme Therapeutics by 127.8% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 2,541,181 shares of the biopharmaceutical company's stock valued at $132,192,000 after acquiring an additional 1,425,674 shares in the last quarter. Finally, Federated Hermes Inc. raised its holdings in shares of Halozyme Therapeutics by 294.1% during the third quarter. Federated Hermes Inc. now owns 1,450,704 shares of the biopharmaceutical company's stock worth $106,395,000 after acquiring an additional 1,082,638 shares in the last quarter. 97.79% of the stock is owned by hedge funds and other institutional investors.

Halozyme Therapeutics Company 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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