Short Interest in Halozyme Therapeutics, Inc. (NASDAQ:HALO) Rises By 8.8%

Halozyme Therapeutics, Inc. (NASDAQ:HALO) was the recipient of a large increase in short interest during the month of June. As of June 15th, there was short interest totalling 9,310,000 shares, an increase of 8.8% from the May 31st total of 8,560,000 shares. Based on an average daily trading volume, of 1,110,000 shares, the days-to-cover ratio is currently 8.4 days. Approximately 7.4% of the shares of the stock are short sold.

Insider Buying and Selling at Halozyme Therapeutics

In other Halozyme Therapeutics news, SVP Michael J. Labarre sold 10,000 shares of the business’s stock in a transaction on Wednesday, April 17th. The stock was sold at an average price of $38.49, for a total value of $384,900.00. Following the completion of the transaction, the senior vice president now directly owns 168,176 shares in the company, valued at approximately $6,473,094.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last 90 days, insiders have sold 40,000 shares of company stock worth $1,858,100. 2.70% of the stock is owned by insiders.

Institutional Trading of Halozyme Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the company. Rise Advisors LLC acquired a new position in shares of Halozyme Therapeutics in the 1st quarter valued at about $25,000. Whittier Trust Co. bought a new position in shares of Halozyme Therapeutics during the first quarter valued at approximately $27,000. GAMMA Investing LLC raised its position in shares of Halozyme Therapeutics by 96.6% during the 2nd quarter. GAMMA Investing LLC now owns 517 shares of the biopharmaceutical company’s stock worth $27,000 after purchasing an additional 254 shares during the period. Principal Securities Inc. bought a new stake in shares of Halozyme Therapeutics in the 4th quarter worth approximately $34,000. Finally, Fidelis Capital Partners LLC acquired a new position in Halozyme Therapeutics during the 1st quarter valued at approximately $52,000. 97.79% of the stock is owned by institutional investors.

Halozyme Therapeutics Stock Up 1.4 %

Shares of Halozyme Therapeutics stock traded up $0.71 on Wednesday, hitting $52.01. 839,268 shares of the company’s stock traded hands, compared to its average volume of 1,250,422. The company has a quick ratio of 5.36, a current ratio of 6.64 and a debt-to-equity ratio of 8.44. The firm’s 50-day moving average is $45.82 and its 200 day moving average is $40.63. The stock has a market cap of $6.62 billion, a P/E ratio of 21.20, a PEG ratio of 0.53 and a beta of 1.27. Halozyme Therapeutics has a 52-week low of $32.83 and a 52-week high of $53.22.

Halozyme Therapeutics (NASDAQ:HALO) last announced its quarterly earnings data on Tuesday, May 7th. The biopharmaceutical company reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.07. The company had revenue of $195.88 million during the quarter, compared to analyst estimates of $201.72 million. Halozyme Therapeutics had a net margin of 36.94% and a return on equity of 225.71%. Equities analysts anticipate that Halozyme Therapeutics will post 3.66 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have commented on the company. JMP Securities cut their price objective on Halozyme Therapeutics from $72.00 to $71.00 and set a “market outperform” rating on the stock in a research report on Wednesday, May 8th. Wells Fargo & Company raised their target price on Halozyme Therapeutics from $48.00 to $58.00 and gave the company an “overweight” rating in a report on Friday, June 7th. HC Wainwright restated a “buy” rating and issued a $65.00 price target on shares of Halozyme Therapeutics in a report on Monday, June 24th. Piper Sandler lowered shares of Halozyme Therapeutics from an “overweight” rating to a “neutral” rating and lifted their price objective for the company from $48.00 to $51.00 in a research note on Friday, June 7th. Finally, Benchmark upped their target price on shares of Halozyme Therapeutics from $50.00 to $60.00 and gave the company a “buy” rating in a research note on Tuesday, June 25th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $57.25.

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.