Halozyme Therapeutics (NASDAQ:HALO) Stock Price Down 3.5% After Insider Selling

Halozyme Therapeutics, Inc. (NASDAQ:HALO)’s stock price fell 3.5% during trading on Thursday after an insider sold shares in the company. The company traded as low as $59.18 and last traded at $60.12. 258,513 shares traded hands during trading, a decline of 79% from the average session volume of 1,248,387 shares. The stock had previously closed at $62.31.

Specifically, SVP Michael J. Labarre sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $62.03, for a total transaction of $620,300.00. Following the transaction, the senior vice president now owns 173,756 shares of the company’s stock, valued at approximately $10,778,084.68. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Piper Sandler downgraded shares of Halozyme Therapeutics from an “overweight” rating to a “neutral” rating and increased their target price for the company from $48.00 to $51.00 in a research note on Friday, June 7th. Wells Fargo & Company increased their price objective on shares of Halozyme Therapeutics from $48.00 to $58.00 and gave the stock an “overweight” rating in a research report on Friday, June 7th. TD Cowen boosted their target price on Halozyme Therapeutics from $59.00 to $65.00 and gave the company a “buy” rating in a research report on Wednesday, August 7th. JPMorgan Chase & Co. downgraded Halozyme Therapeutics from an “overweight” rating to a “neutral” rating and increased their price target for the stock from $52.00 to $57.00 in a report on Thursday. Finally, Benchmark reissued a “buy” rating and set a $60.00 price target on shares of Halozyme Therapeutics in a research note on Thursday, August 8th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $60.00.

Halozyme Therapeutics Stock Down 0.4 %

The stock has a market cap of $7.54 billion, a PE ratio of 24.48, a price-to-earnings-growth ratio of 0.57 and a beta of 1.28. The business has a fifty day moving average of $58.40 and a 200-day moving average of $49.15. The company has a debt-to-equity ratio of 5.19, a current ratio of 7.41 and a quick ratio of 6.21.

Halozyme Therapeutics (NASDAQ:HALO) last issued its earnings results on Tuesday, August 6th. The biopharmaceutical company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.18. The business had revenue of $231.40 million during the quarter, compared to analysts’ expectations of $204.94 million. Halozyme Therapeutics had a return on equity of 195.80% and a net margin of 38.62%. The business’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.68 EPS. Equities research analysts anticipate that Halozyme Therapeutics, Inc. will post 3.7 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. TD Asset Management Inc lifted its position in shares of Halozyme Therapeutics by 517.0% in the 4th quarter. TD Asset Management Inc now owns 1,983,916 shares of the biopharmaceutical company’s stock worth $73,326,000 after purchasing an additional 1,662,390 shares during the period. Norges Bank bought a new stake in Halozyme Therapeutics during the 4th quarter valued at $44,935,000. Epoch Investment Partners Inc. increased its holdings in shares of Halozyme Therapeutics by 250.5% in the 4th quarter. Epoch Investment Partners Inc. now owns 1,163,033 shares of the biopharmaceutical company’s stock valued at $42,986,000 after acquiring an additional 831,199 shares during the period. Boston Trust Walden Corp bought a new position in shares of Halozyme Therapeutics in the 2nd quarter worth $23,211,000. Finally, Swedbank AB purchased a new stake in shares of Halozyme Therapeutics during the 1st quarter worth $13,927,000. 97.79% of the stock is currently owned by institutional investors.

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.