Geode Capital Management LLC Cuts Stock Position in Halozyme Therapeutics, Inc. $HALO

Geode Capital Management LLC decreased its position in shares of Halozyme Therapeutics, Inc. (NASDAQ:HALO) by 23.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,432,509 shares of the biopharmaceutical company’s stock after selling 736,731 shares during the period. Geode Capital Management LLC’s holdings in Halozyme Therapeutics were worth $126,558,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of HALO. Wealth Preservation Advisors LLC acquired a new stake in shares of Halozyme Therapeutics during the first quarter worth about $32,000. SVB Wealth LLC acquired a new position in shares of Halozyme Therapeutics in the first quarter valued at approximately $33,000. Brooklyn Investment Group increased its stake in Halozyme Therapeutics by 1,558.1% during the 1st quarter. Brooklyn Investment Group now owns 713 shares of the biopharmaceutical company’s stock worth $45,000 after buying an additional 670 shares during the period. CWM LLC increased its stake in Halozyme Therapeutics by 46.3% during the 1st quarter. CWM LLC now owns 1,383 shares of the biopharmaceutical company’s stock worth $88,000 after buying an additional 438 shares during the period. Finally, Harvest Fund Management Co. Ltd acquired a new stake in Halozyme Therapeutics during the 1st quarter worth approximately $89,000. 97.79% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on HALO shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Halozyme Therapeutics in a research report on Thursday, November 13th. JMP Securities upped their price target on Halozyme Therapeutics from $78.00 to $91.00 and gave the stock a “market outperform” rating in a report on Wednesday, August 6th. Citigroup reaffirmed a “market outperform” rating on shares of Halozyme Therapeutics in a research report on Tuesday, November 4th. Wall Street Zen raised Halozyme Therapeutics from a “buy” rating to a “strong-buy” rating in a research report on Sunday. Finally, Benchmark upped their target price on shares of Halozyme Therapeutics from $75.00 to $90.00 and gave the stock a “buy” rating in a research note on Wednesday, September 24th. Seven investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $75.10.

Insider Transactions at Halozyme Therapeutics

In other Halozyme Therapeutics news, Director Bernadette Connaughton sold 2,000 shares of Halozyme Therapeutics stock in a transaction that occurred on Monday, November 10th. The stock was sold at an average price of $68.48, for a total transaction of $136,960.00. Following the transaction, the director owned 42,952 shares of the company’s stock, valued at $2,941,352.96. The trade was a 4.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Nicole Labrosse sold 2,227 shares of the business’s stock in a transaction that occurred on Monday, September 22nd. The shares were sold at an average price of $77.95, for a total value of $173,594.65. Following the completion of the sale, the chief financial officer owned 22,079 shares of the company’s stock, valued at approximately $1,721,058.05. This represents a 9.16% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 110,227 shares of company stock worth $8,028,955. Corporate insiders own 2.40% of the company’s stock.

Halozyme Therapeutics Stock Up 0.2%

Shares of NASDAQ:HALO opened at $70.25 on Thursday. The firm has a 50 day simple moving average of $69.93 and a 200-day simple moving average of $63.41. Halozyme Therapeutics, Inc. has a twelve month low of $44.10 and a twelve month high of $79.50. The company has a current ratio of 8.36, a quick ratio of 7.01 and a debt-to-equity ratio of 4.54. The company has a market capitalization of $8.26 billion, a PE ratio of 16.08, a P/E/G ratio of 0.35 and a beta of 1.18.

Halozyme Therapeutics (NASDAQ:HALO) last posted its earnings results on Monday, November 3rd. The biopharmaceutical company reported $1.72 EPS for the quarter, beating analysts’ consensus estimates of $1.63 by $0.09. Halozyme Therapeutics had a net margin of 47.28% and a return on equity of 150.85%. The firm had revenue of $354.26 million for the quarter, compared to the consensus estimate of $339.18 million. During the same period last year, the firm posted $1.27 EPS. The company’s revenue was up 22.1% on a year-over-year basis. On average, equities analysts predict that Halozyme Therapeutics, Inc. will post 4.73 EPS for the current fiscal year.

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.