Tectonic Advisors LLC Has $1.46 Million Stock Position in Halozyme Therapeutics, Inc. (NASDAQ:HALO)

Tectonic Advisors LLC lessened its holdings in shares of Halozyme Therapeutics, Inc. (NASDAQ:HALO) by 12.7% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 25,413 shares of the biopharmaceutical company’s stock after selling 3,702 shares during the period. Tectonic Advisors LLC’s holdings in Halozyme Therapeutics were worth $1,455,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. GAMMA Investing LLC boosted 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 acquiring an additional 254 shares in the last quarter. International Assets Investment Management LLC bought a new position in Halozyme Therapeutics during the second quarter worth $33,000. Whittier Trust Co. bought a new position in Halozyme Therapeutics during the first quarter worth $27,000. Skandinaviska Enskilda Banken AB publ bought a new position in Halozyme Therapeutics during the second quarter worth $49,000. Finally, Toth Financial Advisory Corp acquired a new stake in Halozyme Therapeutics in the third quarter worth $57,000. Institutional investors and hedge funds own 97.79% of the company’s stock.

Insider Transactions at Halozyme Therapeutics

In related news, SVP Michael J. Labarre sold 10,000 shares of the business’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 sale, the senior vice president now owns 173,756 shares in the company, valued at approximately $10,778,084.68. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, SVP Michael J. Labarre sold 10,000 shares of the company’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $62.03, for a total value of $620,300.00. Following the transaction, the senior vice president now directly owns 173,756 shares in the company, valued at approximately $10,778,084.68. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Matthew L. Posard sold 9,881 shares of the company’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $57.70, for a total transaction of $570,133.70. Following the completion of the sale, the director now directly owns 69,874 shares of the company’s stock, valued at approximately $4,031,729.80. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 89,881 shares of company stock valued at $5,169,834. 2.40% of the stock is currently owned by corporate insiders.

Halozyme Therapeutics Trading Down 3.0 %

Shares of NASDAQ HALO opened at $49.30 on Friday. Halozyme Therapeutics, Inc. has a 1 year low of $32.83 and a 1 year high of $65.53. The stock has a market cap of $6.27 billion, a P/E ratio of 20.37, a price-to-earnings-growth ratio of 0.49 and a beta of 1.27. The firm has a 50-day moving average of $58.19 and a 200 day moving average of $51.44. 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 announced its quarterly earnings results on Tuesday, August 6th. The biopharmaceutical company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.18. The firm had revenue of $231.40 million during the quarter, compared to analyst estimates of $204.94 million. Halozyme Therapeutics had a net margin of 38.62% and a return on equity of 195.80%. The business’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.68 earnings per share. As a group, sell-side analysts expect that Halozyme Therapeutics, Inc. will post 3.71 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Morgan Stanley lifted their price objective on shares of Halozyme Therapeutics from $59.00 to $64.00 and gave the company an “overweight” rating in a report on Wednesday, August 7th. Wells Fargo & Company lowered shares of Halozyme Therapeutics from an “overweight” rating to an “equal weight” rating and lifted their price objective for the stock from $58.00 to $62.00 in a research report on Monday, October 7th. Benchmark reissued a “buy” rating and issued a $60.00 price target on shares of Halozyme Therapeutics in a research report on Thursday, August 8th. TD Cowen boosted their price target on shares of Halozyme Therapeutics from $59.00 to $65.00 and gave the company a “buy” rating in a research report on Wednesday, August 7th. Finally, The Goldman Sachs Group boosted their price target on shares of Halozyme Therapeutics from $44.00 to $49.00 and gave the company a “neutral” rating in a research report on Monday, July 22nd. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $60.44.

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.