Legal & General Group Plc Decreases Stake in Halozyme Therapeutics, Inc. (NASDAQ:HALO)

Legal & General Group Plc cut its stake in shares of Halozyme Therapeutics, Inc. (NASDAQ:HALO) by 1.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 225,427 shares of the biopharmaceutical company’s stock after selling 3,197 shares during the quarter. Legal & General Group Plc owned approximately 0.18% of Halozyme Therapeutics worth $10,778,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. 2Xideas AG increased its position in shares of Halozyme Therapeutics by 24.1% in the 4th quarter. 2Xideas AG now owns 379,240 shares of the biopharmaceutical company’s stock valued at $18,131,000 after purchasing an additional 73,653 shares during the last quarter. Aviva PLC grew its stake in shares of Halozyme Therapeutics by 39.3% during the fourth quarter. Aviva PLC now owns 137,413 shares of the biopharmaceutical company’s stock worth $6,570,000 after purchasing an additional 38,765 shares in the last quarter. Prudential PLC increased its holdings in Halozyme Therapeutics by 3.2% in the fourth quarter. Prudential PLC now owns 58,075 shares of the biopharmaceutical company’s stock valued at $2,777,000 after buying an additional 1,813 shares during the last quarter. Bryce Point Capital LLC acquired a new stake in Halozyme Therapeutics in the fourth quarter valued at $607,000. Finally, Huntington National Bank lifted its holdings in Halozyme Therapeutics by 68.2% during the 4th quarter. Huntington National Bank now owns 3,180 shares of the biopharmaceutical company’s stock worth $152,000 after buying an additional 1,289 shares during the last quarter. 97.79% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Piper Sandler raised their target price on Halozyme Therapeutics from $52.00 to $53.00 and gave the stock a “neutral” rating in a research report on Friday, January 10th. Benchmark reissued a “buy” rating and set a $75.00 price objective on shares of Halozyme Therapeutics in a report on Thursday, February 20th. HC Wainwright restated a “buy” rating on shares of Halozyme Therapeutics in a report on Thursday, March 6th. Finally, Wells Fargo & Company cut their price target on shares of Halozyme Therapeutics from $62.00 to $57.00 and set an “equal weight” rating on the stock in a research note on Monday, January 13th. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $62.78.

Halozyme Therapeutics Price Performance

Shares of NASDAQ HALO opened at $58.82 on Thursday. The stock has a fifty day moving average price of $60.36 and a 200 day moving average price of $54.99. Halozyme Therapeutics, Inc. has a 1-year low of $37.73 and a 1-year high of $66.00. The company has a debt-to-equity ratio of 4.14, a current ratio of 7.80 and a quick ratio of 9.15. The company has a market cap of $7.27 billion, a PE ratio of 17.15, a P/E/G ratio of 0.42 and a beta of 1.32.

Halozyme Therapeutics (NASDAQ:HALO) last issued its earnings results on Tuesday, February 18th. The biopharmaceutical company reported $1.19 earnings per share for the quarter, beating the consensus estimate of $1.17 by $0.02. The business had revenue of $298.01 million for the quarter, compared to the consensus estimate of $285.74 million. Halozyme Therapeutics had a net margin of 43.74% and a return on equity of 157.78%. Sell-side analysts forecast that Halozyme Therapeutics, Inc. will post 4.73 EPS for the current year.

Insider Activity

In other news, Director Jeffrey William Henderson sold 5,000 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $56.30, for a total value of $281,500.00. Following the completion of the transaction, the director now owns 38,611 shares in the company, valued at $2,173,799.30. This trade represents a 11.46 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Michael J. Labarre sold 10,000 shares of the company’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $58.05, for a total transaction of $580,500.00. Following the transaction, the senior vice president now owns 185,453 shares in the company, valued at $10,765,546.65. The trade was a 5.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 22,200 shares of company stock valued at $1,286,568 in the last three months. 2.40% of the stock is currently owned by company insiders.

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.