Allspring Global Investments Holdings LLC Sells 159,276 Shares of Halozyme Therapeutics, Inc. (NASDAQ:HALO)

Allspring Global Investments Holdings LLC trimmed its position in Halozyme Therapeutics, Inc. (NASDAQ:HALO - Free Report) by 18.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 727,998 shares of the biopharmaceutical company's stock after selling 159,276 shares during the period. Allspring Global Investments Holdings LLC owned 0.55% of Halozyme Therapeutics worth $26,907,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Advisors Asset Management Inc. increased its position in shares of Halozyme Therapeutics by 0.6% in the third quarter. Advisors Asset Management Inc. now owns 45,598 shares of the biopharmaceutical company's stock valued at $1,742,000 after acquiring an additional 287 shares during the period. Advisory Services Network LLC increased its position in shares of Halozyme Therapeutics by 50.5% in the first quarter. Advisory Services Network LLC now owns 903 shares of the biopharmaceutical company's stock valued at $34,000 after acquiring an additional 303 shares during the period. Fifth Third Bancorp increased its position in shares of Halozyme Therapeutics by 2.6% in the third quarter. Fifth Third Bancorp now owns 12,262 shares of the biopharmaceutical company's stock valued at $468,000 after acquiring an additional 308 shares during the period. Prudential Financial Inc. increased its position in shares of Halozyme Therapeutics by 1.5% during the first quarter. Prudential Financial Inc. now owns 22,540 shares of the biopharmaceutical company's stock valued at $1,003,000 after buying an additional 336 shares during the period. Finally, Commonwealth Equity Services LLC increased its position in shares of Halozyme Therapeutics by 2.2% during the third quarter. Commonwealth Equity Services LLC now owns 16,216 shares of the biopharmaceutical company's stock valued at $619,000 after buying an additional 347 shares during the period. 97.79% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Benchmark reissued a "buy" rating and set a $50.00 price objective on shares of Halozyme Therapeutics in a research note on Friday, January 19th. StockNews.com raised shares of Halozyme Therapeutics from a "hold" rating to a "buy" rating in a research note on Friday, February 23rd. TD Cowen assumed coverage on shares of Halozyme Therapeutics in a research note on Thursday, February 29th. They set an "outperform" rating and a $54.00 price objective on the stock. Morgan Stanley dropped their price objective on shares of Halozyme Therapeutics from $61.00 to $59.00 and set an "overweight" rating on the stock in a research note on Tuesday, December 26th. Finally, HC Wainwright boosted their price objective on shares of Halozyme Therapeutics from $48.00 to $50.00 and gave the stock a "buy" rating in a research note on Wednesday, February 21st. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $53.29.

Halozyme Therapeutics Price Performance

HALO traded down $0.71 during trading on Friday, hitting $38.61. 780,317 shares of the company traded hands, compared to its average volume of 910,056. The company has a market cap of $4.91 billion, a PE ratio of 18.30, a P/E/G ratio of 0.46 and a beta of 1.25. The stock's 50-day simple moving average is $39.22 and its two-hundred day simple moving average is $37.76. Halozyme Therapeutics, Inc. has a 1 year low of $29.85 and a 1 year high of $45.00. The company has a current ratio of 6.64, a quick ratio of 5.50 and a debt-to-equity ratio of 17.89.

Halozyme Therapeutics (NASDAQ:HALO - Get Free Report) last posted its earnings results on Tuesday, February 20th. The biopharmaceutical company reported $0.75 earnings per share for the quarter, missing the consensus estimate of $0.77 by ($0.02). The company had revenue of $230.04 million for the quarter, compared to analysts' expectations of $235.25 million. Halozyme Therapeutics had a net margin of 33.96% and a return on equity of 248.20%. As a group, sell-side analysts anticipate that Halozyme Therapeutics, Inc. will post 3.33 earnings per share for the current fiscal year.

Insider Buying and Selling at Halozyme Therapeutics

In other news, SVP Michael J. Labarre sold 10,000 shares of the firm's stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $41.64, for a total value of $416,400.00. Following the completion of the sale, the senior vice president now owns 156,558 shares in the company, valued at approximately $6,519,075.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 2.40% of the stock is owned by company insiders.

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.