Summit Investment Advisors Inc. Cuts Stake in Halozyme Therapeutics, Inc. (NASDAQ:HALO)

Summit Investment Advisors Inc. cut its holdings in Halozyme Therapeutics, Inc. (NASDAQ:HALO) by 1.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 38,244 shares of the biopharmaceutical company’s stock after selling 382 shares during the period. Summit Investment Advisors Inc.’s holdings in Halozyme Therapeutics were worth $1,828,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in HALO. Smartleaf Asset Management LLC lifted its holdings in shares of Halozyme Therapeutics by 29.2% in the fourth quarter. Smartleaf Asset Management LLC now owns 871 shares of the biopharmaceutical company’s stock worth $42,000 after buying an additional 197 shares in the last quarter. Louisiana State Employees Retirement System increased its holdings in Halozyme Therapeutics by 0.6% in the 4th quarter. Louisiana State Employees Retirement System now owns 35,300 shares of the biopharmaceutical company’s stock valued at $1,688,000 after acquiring an additional 200 shares during the last quarter. State of New Jersey Common Pension Fund D lifted its stake in Halozyme Therapeutics by 0.6% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 47,663 shares of the biopharmaceutical company’s stock worth $2,279,000 after purchasing an additional 302 shares in the last quarter. Parkside Financial Bank & Trust boosted its holdings in shares of Halozyme Therapeutics by 21.8% during the 4th quarter. Parkside Financial Bank & Trust now owns 1,800 shares of the biopharmaceutical company’s stock valued at $86,000 after purchasing an additional 322 shares during the last quarter. Finally, Nations Financial Group Inc. IA ADV grew its position in shares of Halozyme Therapeutics by 2.4% during the fourth quarter. Nations Financial Group Inc. IA ADV now owns 14,062 shares of the biopharmaceutical company’s stock valued at $672,000 after purchasing an additional 328 shares in the last quarter. 97.79% of the stock is currently owned by institutional investors.

Insider Activity at Halozyme Therapeutics

In other news, Director Jeffrey William Henderson sold 503 shares of Halozyme Therapeutics stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $64.05, for a total transaction of $32,217.15. Following the completion of the sale, the director now owns 33,108 shares of the company’s stock, valued at approximately $2,120,567.40. The trade was a 1.50 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Michael J. Labarre sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $58.05, for a total value of $580,500.00. Following the completion of the sale, the senior vice president now owns 185,453 shares of the company’s stock, valued at $10,765,546.65. The trade was a 5.12 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 22,200 shares of company stock worth $1,286,568 in the last quarter. 2.40% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of brokerages recently commented on HALO. Benchmark reissued a “buy” rating and set a $75.00 price target on shares of Halozyme Therapeutics in a research note on Thursday, February 20th. Wells Fargo & Company lowered their target price on Halozyme Therapeutics from $62.00 to $57.00 and set an “equal weight” rating for the company in a research report on Monday, January 13th. Piper Sandler boosted their price target on shares of Halozyme Therapeutics from $52.00 to $53.00 and gave the stock a “neutral” rating in a research report on Friday, January 10th. Finally, HC Wainwright reaffirmed a “buy” rating on shares of Halozyme Therapeutics in a research note on Thursday, March 6th. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $62.78.

Halozyme Therapeutics Stock Down 0.2 %

NASDAQ HALO opened at $61.28 on Wednesday. Halozyme Therapeutics, Inc. has a 52 week low of $37.73 and a 52 week high of $66.00. The firm has a market capitalization of $7.57 billion, a price-to-earnings ratio of 17.87, a PEG ratio of 0.42 and a beta of 1.32. The company has a quick ratio of 9.15, a current ratio of 7.80 and a debt-to-equity ratio of 4.14. The company has a fifty day moving average of $60.29 and a two-hundred day moving average of $54.94.

Halozyme Therapeutics (NASDAQ:HALO) last released its quarterly earnings results on Tuesday, February 18th. The biopharmaceutical company reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $1.17 by $0.02. Halozyme Therapeutics had a net margin of 43.74% and a return on equity of 157.78%. The firm had revenue of $298.01 million during the quarter, compared to analysts’ expectations of $285.74 million. On average, analysts predict that Halozyme Therapeutics, Inc. will post 4.73 earnings per share for the current year.

Halozyme Therapeutics 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.