Synovus Financial Corp Sells 7,612 Shares of Halozyme Therapeutics, Inc. (NASDAQ:HALO)

Synovus Financial Corp lessened its stake in shares of Halozyme Therapeutics, Inc. (NASDAQ:HALO) by 8.6% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 80,590 shares of the biopharmaceutical company’s stock after selling 7,612 shares during the quarter. Synovus Financial Corp owned approximately 0.06% of Halozyme Therapeutics worth $4,613,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Geode Capital Management LLC grew its position in Halozyme Therapeutics by 1.0% during the 3rd quarter. Geode Capital Management LLC now owns 3,060,131 shares of the biopharmaceutical company’s stock worth $175,194,000 after acquiring an additional 30,901 shares during the last quarter. Congress Asset Management Co. boosted its stake in shares of Halozyme Therapeutics by 446.5% during the third quarter. Congress Asset Management Co. now owns 2,433,579 shares of the biopharmaceutical company’s stock valued at $139,298,000 after purchasing an additional 1,988,238 shares in the last quarter. Handelsbanken Fonder AB boosted its stake in shares of Halozyme Therapeutics by 76.9% during the third quarter. Handelsbanken Fonder AB now owns 1,969,169 shares of the biopharmaceutical company’s stock valued at $112,715,000 after purchasing an additional 856,200 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Halozyme Therapeutics by 12.4% during the second quarter. Dimensional Fund Advisors LP now owns 1,897,759 shares of the biopharmaceutical company’s stock worth $99,363,000 after purchasing an additional 209,530 shares during the last quarter. Finally, American Century Companies Inc. increased its stake in shares of Halozyme Therapeutics by 9.7% in the second quarter. American Century Companies Inc. now owns 821,266 shares of the biopharmaceutical company’s stock valued at $43,002,000 after buying an additional 72,544 shares during the period. 97.79% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. HC Wainwright reiterated a “buy” rating and set a $68.00 target price on shares of Halozyme Therapeutics in a research report on Wednesday, November 20th. JPMorgan Chase & Co. lowered shares of Halozyme Therapeutics from an “overweight” rating to a “neutral” rating and lifted their price target for the stock from $52.00 to $57.00 in a report on Thursday, September 19th. JMP Securities increased their price objective on Halozyme Therapeutics from $72.00 to $73.00 and gave the company a “market outperform” rating in a report on Friday, November 1st. Wells Fargo & Company downgraded Halozyme Therapeutics from an “overweight” rating to an “equal weight” rating and lifted their target price for the stock from $58.00 to $62.00 in a report on Monday, October 7th. Finally, Piper Sandler increased their price target on Halozyme Therapeutics from $51.00 to $52.00 and gave the company a “neutral” rating in a research note on Monday, November 4th. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $61.11.

Halozyme Therapeutics Stock Performance

HALO stock opened at $48.00 on Friday. The firm has a market cap of $6.11 billion, a PE ratio of 15.89, a price-to-earnings-growth ratio of 0.43 and a beta of 1.23. The company has a current ratio of 10.36, a quick ratio of 9.15 and a debt-to-equity ratio of 3.32. The stock has a 50-day moving average price of $51.43 and a 200-day moving average price of $54.00. Halozyme Therapeutics, Inc. has a 1-year low of $33.15 and a 1-year high of $65.53.

Insiders Place Their Bets

In other Halozyme Therapeutics news, SVP Michael J. Labarre sold 10,000 shares of the firm’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $62.03, for a total value of $620,300.00. Following the completion of the sale, the senior vice president now directly owns 173,756 shares in the company, valued at approximately $10,778,084.68. This trade represents a 5.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last three months, insiders sold 40,000 shares of company stock worth $2,242,100. 2.40% of the stock is owned by corporate 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.