Harvest Fund Management Co. Ltd Purchases New Stake in Halozyme Therapeutics, Inc. (NASDAQ:HALO)

Harvest Fund Management Co. Ltd acquired a new stake in Halozyme Therapeutics, Inc. (NASDAQ:HALO) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 2,849 shares of the biopharmaceutical company’s stock, valued at approximately $163,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Congress Asset Management Co. boosted its position 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 buying an additional 1,988,238 shares during the last quarter. Handelsbanken Fonder AB raised its holdings in shares of Halozyme Therapeutics by 76.9% in 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 during the last quarter. Dimensional Fund Advisors LP lifted its position 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 valued at $99,363,000 after purchasing an additional 209,530 shares in the last quarter. American Century Companies Inc. boosted its holdings in Halozyme Therapeutics by 9.7% during the second quarter. American Century Companies Inc. now owns 821,266 shares of the biopharmaceutical company’s stock worth $43,002,000 after purchasing an additional 72,544 shares during the last quarter. Finally, Federated Hermes Inc. grew its position in Halozyme Therapeutics by 37.8% in the 2nd quarter. Federated Hermes Inc. now owns 696,131 shares of the biopharmaceutical company’s stock worth $36,449,000 after purchasing an additional 191,030 shares in the last quarter. Institutional investors and hedge funds own 97.79% of the company’s stock.

Insider Activity at Halozyme Therapeutics

In other Halozyme Therapeutics news, SVP Michael J. Labarre sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $62.03, for a total value of $620,300.00. Following the completion of the transaction, the senior vice president now owns 173,756 shares in the company, valued at $10,778,084.68. This trade represents a 5.44 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In the last ninety days, insiders sold 60,000 shares of company stock worth $3,425,000. Corporate insiders own 2.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on HALO. Morgan Stanley lifted their target price on shares of Halozyme Therapeutics from $59.00 to $64.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 7th. JMP Securities boosted their price objective on Halozyme Therapeutics from $72.00 to $73.00 and gave the stock a “market outperform” rating in a research report on Friday, November 1st. Benchmark reaffirmed a “buy” rating and set a $60.00 target price on shares of Halozyme Therapeutics in a research report on Thursday, August 8th. Wells Fargo & Company downgraded shares of Halozyme Therapeutics from an “overweight” rating to an “equal weight” rating and boosted their price target for the stock from $58.00 to $62.00 in a report on Monday, October 7th. Finally, Cowen restated a “buy” rating on shares of Halozyme Therapeutics in a report on Friday, October 18th. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $61.11.

Halozyme Therapeutics Price Performance

HALO opened at $48.47 on Thursday. The firm has a 50-day moving average price of $54.00 and a 200-day moving average price of $53.71. Halozyme Therapeutics, Inc. has a twelve month low of $33.15 and a twelve month high of $65.53. The company has a quick ratio of 9.15, a current ratio of 10.36 and a debt-to-equity ratio of 3.32. The company has a market capitalization of $6.17 billion, a price-to-earnings ratio of 16.05, a PEG ratio of 0.43 and a beta of 1.29.

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.