Harvey Capital Management Inc. Takes Position in Halozyme Therapeutics, Inc. $HALO

Harvey Capital Management Inc. bought a new position in shares of Halozyme Therapeutics, Inc. (NASDAQ:HALO) during the second quarter, Holdings Channel reports. The firm bought 146,113 shares of the biopharmaceutical company’s stock, valued at approximately $11,436,000. Halozyme Therapeutics accounts for 2.4% of Harvey Capital Management Inc.’s investment portfolio, making the stock its 9th biggest holding.

A number of other hedge funds and other institutional investors also recently made changes to their positions in HALO. Coastal Bridge Advisors LLC bought a new position in Halozyme Therapeutics during the second quarter valued at about $1,135,000. Public Employees Retirement System of Ohio bought a new stake in Halozyme Therapeutics in the second quarter worth about $2,899,000. Redwood Investment Management LLC bought a new stake in Halozyme Therapeutics in the second quarter worth about $2,203,000. Corient Private Wealth LP purchased a new position in Halozyme Therapeutics in the second quarter valued at about $14,671,000. Finally, Panoramic Capital LLC purchased a new position in Halozyme Therapeutics in the second quarter valued at about $9,112,000. 97.79% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Halozyme Therapeutics

In other news, Director Bernadette Connaughton sold 1,626 shares of Halozyme Therapeutics stock in a transaction on Monday, August 10th. The stock was sold at an average price of $102.80, for a total value of $167,152.80. Following the completion of the transaction, the director directly owned 40,418 shares in the company, valued at approximately $4,154,970.40. The trade was a 3.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mahesh Krishnan sold 7,304 shares of the business’s stock in a transaction on Monday, June 29th. The shares were sold at an average price of $75.00, for a total value of $547,800.00. Following the sale, the director owned 14,462 shares in the company, valued at approximately $1,084,650. The trade was a 33.56% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 64,103 shares of company stock valued at $5,226,496 in the last 90 days. 2.50% of the stock is currently owned by company insiders.

Halozyme Therapeutics Price Performance

Shares of NASDAQ:HALO opened at $106.92 on Friday. The firm has a market capitalization of $12.14 billion, a PE ratio of 31.92, a P/E/G ratio of 0.43 and a beta of 0.85. The company has a quick ratio of 2.31, a current ratio of 2.71 and a debt-to-equity ratio of 13.50. The company has a 50-day moving average price of $86.27 and a two-hundred day moving average price of $74.57. Halozyme Therapeutics, Inc. has a twelve month low of $61.22 and a twelve month high of $109.66.

Halozyme Therapeutics (NASDAQ:HALO) last posted its quarterly earnings results on Thursday, August 6th. The biopharmaceutical company reported $2.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.79 by $0.49. The company had revenue of $481.00 million for the quarter, compared to analyst estimates of $402.28 million. Halozyme Therapeutics had a net margin of 24.86% and a return on equity of 260.98%. The company’s quarterly revenue was up 47.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.54 earnings per share. Halozyme Therapeutics has set its FY 2026 guidance at 8.650-9.000 EPS. Equities analysts forecast that Halozyme Therapeutics, Inc. will post 7.77 EPS for the current year.

Wall Street Analyst Weigh In

HALO has been the subject of several research analyst reports. Wells Fargo & Company raised their price target on shares of Halozyme Therapeutics from $75.00 to $95.00 and gave the stock an “equal weight” rating in a research note on Friday, August 7th. HC Wainwright upped their price objective on Halozyme Therapeutics from $95.00 to $115.00 and gave the company a “buy” rating in a research note on Friday, August 7th. Benchmark reissued a “buy” rating on shares of Halozyme Therapeutics in a report on Tuesday, July 21st. Morgan Stanley decreased their target price on Halozyme Therapeutics from $96.00 to $93.00 and set an “overweight” rating for the company in a research report on Tuesday, May 12th. Finally, Citizens Jmp boosted their target price on Halozyme Therapeutics from $92.00 to $93.00 and gave the company a “market outperform” rating in a research note on Friday, August 7th. Nine research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Halozyme Therapeutics presently has an average rating of “Moderate Buy” and an average target price of $91.20.

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.