Skandinaviska Enskilda Banken AB publ Sells 13,700 Shares of Halozyme Therapeutics, Inc. $HALO

Skandinaviska Enskilda Banken AB publ trimmed its stake in Halozyme Therapeutics, Inc. (NASDAQ:HALO) by 26.9% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 37,300 shares of the biopharmaceutical company’s stock after selling 13,700 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Halozyme Therapeutics were worth $2,736,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the stock. Empowered Funds LLC acquired a new stake in shares of Halozyme Therapeutics in the 1st quarter valued at approximately $755,000. Acadian Asset Management LLC acquired a new position in Halozyme Therapeutics during the first quarter worth $195,000. First Citizens Bank & Trust Co. bought a new stake in Halozyme Therapeutics during the second quarter worth $436,000. Asset Management One Co. Ltd. acquired a new stake in Halozyme Therapeutics in the second quarter valued at $98,000. Finally, AlphaQuest LLC lifted its stake in Halozyme Therapeutics by 2,933.1% in the second quarter. AlphaQuest LLC now owns 5,308 shares of the biopharmaceutical company’s stock valued at $276,000 after acquiring an additional 5,133 shares during the last quarter. Institutional investors and hedge funds own 97.79% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on HALO shares. Citizens Jmp boosted their price objective on shares of Halozyme Therapeutics from $91.00 to $92.00 and gave the stock a “market outperform” rating in a research note on Tuesday, November 4th. HC Wainwright reiterated a “buy” rating on shares of Halozyme Therapeutics in a report on Thursday, January 29th. Weiss Ratings raised Halozyme Therapeutics from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, February 10th. The Goldman Sachs Group restated a “sell” rating and issued a $56.00 price objective on shares of Halozyme Therapeutics in a research note on Thursday, December 4th. Finally, JPMorgan Chase & Co. lifted their target price on Halozyme Therapeutics from $63.00 to $65.00 and gave the stock a “neutral” rating in a research note on Monday, October 27th. Seven research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $78.56.

Halozyme Therapeutics Price Performance

Shares of Halozyme Therapeutics stock opened at $70.98 on Friday. Halozyme Therapeutics, Inc. has a twelve month low of $47.50 and a twelve month high of $82.22. The company has a quick ratio of 1.37, a current ratio of 4.66 and a debt-to-equity ratio of 43.89. The company has a 50-day simple moving average of $72.14 and a two-hundred day simple moving average of $70.36. The stock has a market capitalization of $8.38 billion, a price-to-earnings ratio of 28.51, a price-to-earnings-growth ratio of 0.29 and a beta of 0.97.

Halozyme Therapeutics (NASDAQ:HALO) last announced its earnings results on Tuesday, February 17th. The biopharmaceutical company reported ($0.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.92 by ($2.16). Halozyme Therapeutics had a return on equity of 136.12% and a net margin of 22.69%.The business had revenue of $451.77 million for the quarter, compared to analyst estimates of $446.13 million. During the same quarter in the previous year, the company earned $1.26 EPS. The business’s revenue for the quarter was up 51.6% on a year-over-year basis. Analysts forecast that Halozyme Therapeutics, Inc. will post 4.73 EPS for the current year.

Insider Buying and Selling

In other Halozyme Therapeutics news, CEO Helen Torley sold 10,000 shares of the firm’s stock in a transaction on Thursday, February 5th. The stock was sold at an average price of $78.64, for a total transaction of $786,400.00. Following the transaction, the chief executive officer owned 708,719 shares in the company, valued at $55,733,662.16. This trade represents a 1.39% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Bernadette Connaughton sold 2,000 shares of Halozyme Therapeutics stock in a transaction on Monday, January 5th. The shares were sold at an average price of $70.25, for a total value of $140,500.00. Following the completion of the transaction, the director directly owned 40,123 shares of the company’s stock, valued at $2,818,640.75. This represents a 4.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 49,398 shares of company stock worth $3,650,592 in the last three months. 2.40% of the stock is currently owned by company insiders.

Halozyme Therapeutics 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.