Halozyme Therapeutics, Inc. $HALO Position Reduced by Profund Advisors LLC

Profund Advisors LLC reduced its position in Halozyme Therapeutics, Inc. (NASDAQ:HALO) by 35.9% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 24,631 shares of the biopharmaceutical company’s stock after selling 13,809 shares during the quarter. Profund Advisors LLC’s holdings in Halozyme Therapeutics were worth $1,806,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in HALO. DLD Asset Management LP purchased a new position in Halozyme Therapeutics during the 2nd quarter worth approximately $650,250,000. Arrowstreet Capital Limited Partnership boosted its position in shares of Halozyme Therapeutics by 127.8% in the second quarter. Arrowstreet Capital Limited Partnership now owns 2,541,181 shares of the biopharmaceutical company’s stock worth $132,192,000 after buying an additional 1,425,674 shares during the period. Federated Hermes Inc. grew its holdings in shares of Halozyme Therapeutics by 294.1% during the third quarter. Federated Hermes Inc. now owns 1,450,704 shares of the biopharmaceutical company’s stock valued at $106,395,000 after buying an additional 1,082,638 shares in the last quarter. LSV Asset Management grew its holdings in shares of Halozyme Therapeutics by 40.2% during the second quarter. LSV Asset Management now owns 1,255,240 shares of the biopharmaceutical company’s stock valued at $65,298,000 after buying an additional 360,049 shares in the last quarter. Finally, Royal London Asset Management Ltd. raised its position in Halozyme Therapeutics by 122.3% during the second quarter. Royal London Asset Management Ltd. now owns 1,101,912 shares of the biopharmaceutical company’s stock valued at $57,321,000 after buying an additional 606,236 shares during the period. Hedge funds and other institutional investors own 97.79% of the company’s stock.

Halozyme Therapeutics Stock Performance

Shares of HALO opened at $80.48 on Tuesday. The firm has a market cap of $9.46 billion, a price-to-earnings ratio of 16.94, a price-to-earnings-growth ratio of 0.34 and a beta of 0.97. The company’s fifty day moving average is $69.68 and its 200-day moving average is $69.39. The company has a quick ratio of 1.37, a current ratio of 1.59 and a debt-to-equity ratio of 1.59. Halozyme Therapeutics, Inc. has a 12 month low of $47.50 and a 12 month high of $82.22.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. TD Cowen raised their price objective on Halozyme Therapeutics from $79.00 to $90.00 and gave the stock a “buy” rating in a research report on Thursday, January 8th. Leerink Partners raised shares of Halozyme Therapeutics from an “underperform” rating to a “market perform” rating and set a $70.00 price target for the company in a research report on Tuesday, October 14th. The Goldman Sachs Group restated a “sell” rating and set a $56.00 price target on shares of Halozyme Therapeutics in a report on Thursday, December 4th. Wall Street Zen raised shares of Halozyme Therapeutics from a “buy” rating to a “strong-buy” rating in a research report on Saturday, January 31st. Finally, Benchmark reiterated a “buy” rating on shares of Halozyme Therapeutics in a research note on Tuesday, February 3rd. Seven research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $78.80.

Insider Activity

In other Halozyme Therapeutics news, CEO Helen Torley sold 20,000 shares of the business’s stock in a transaction dated Tuesday, February 3rd. The stock was sold at an average price of $76.12, for a total value of $1,522,400.00. Following the completion of the sale, the chief executive officer owned 708,719 shares of the company’s stock, valued at $53,947,690.28. The trade was a 2.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Bernadette Connaughton sold 2,000 shares of the stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $70.25, for a total value of $140,500.00. Following the transaction, the director directly owned 40,123 shares in the company, valued at approximately $2,818,640.75. This represents a 4.75% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 49,398 shares of company stock worth $3,650,592. Corporate insiders own 2.90% of the company’s stock.

About Halozyme Therapeutics

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.