Tectonic Advisors LLC Reduces Stock Position in Halozyme Therapeutics, Inc. $HALO

Tectonic Advisors LLC cut its holdings in Halozyme Therapeutics, Inc. (NASDAQ:HALO) by 34.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 16,564 shares of the biopharmaceutical company’s stock after selling 8,727 shares during the period. Tectonic Advisors LLC’s holdings in Halozyme Therapeutics were worth $1,215,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of HALO. DLD Asset Management LP purchased a new stake in shares of Halozyme Therapeutics during the second quarter worth $650,250,000. Arrowstreet Capital Limited Partnership raised its stake in shares of Halozyme Therapeutics by 127.8% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 2,541,181 shares of the biopharmaceutical company’s stock valued at $132,192,000 after purchasing an additional 1,425,674 shares during the period. Qube Research & Technologies Ltd purchased a new stake in Halozyme Therapeutics during the 2nd quarter worth about $51,295,000. Los Angeles Capital Management LLC lifted its holdings in Halozyme Therapeutics by 951.8% during the 2nd quarter. Los Angeles Capital Management LLC now owns 973,670 shares of the biopharmaceutical company’s stock worth $50,650,000 after purchasing an additional 881,094 shares in the last quarter. Finally, Norges Bank bought a new position in Halozyme Therapeutics in the 2nd quarter worth about $45,027,000. 97.79% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Helen Torley sold 16,569 shares of the company’s stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $68.92, for a total value of $1,141,935.48. Following the completion of the transaction, the chief executive officer directly owned 708,719 shares in the company, valued at approximately $48,844,913.48. This represents a 2.28% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Cortney Caudill sold 4,263 shares of the stock in a transaction dated Saturday, November 1st. The shares were sold at an average price of $65.19, for a total value of $277,904.97. Following the transaction, the chief operating officer owned 12,737 shares in the company, valued at $830,325.03. This trade represents a 25.08% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 43,661 shares of company stock valued at $2,998,757 over the last 90 days. Insiders own 2.40% of the company’s stock.

Wall Street Analyst Weigh In

HALO has been the topic of several analyst reports. HC Wainwright reiterated a “buy” rating and set a $90.00 price target on shares of Halozyme Therapeutics in a research report on Friday, December 19th. JPMorgan Chase & Co. upped their target price on shares of Halozyme Therapeutics from $63.00 to $65.00 and gave the stock a “neutral” rating in a report on Monday, October 27th. Leerink Partners upgraded shares of Halozyme Therapeutics from an “underperform” rating to a “market perform” rating and set a $70.00 target price on the stock in a research note on Tuesday, October 14th. Morgan Stanley reduced their price target on shares of Halozyme Therapeutics from $80.00 to $79.00 and set an “overweight” rating for the company in a research report on Monday, October 20th. Finally, Benchmark upped their price target on shares of Halozyme Therapeutics from $75.00 to $90.00 and gave the stock a “buy” rating in a report on Wednesday, September 24th. Seven investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Halozyme Therapeutics currently has a consensus rating of “Hold” and an average price target of $75.10.

Halozyme Therapeutics Price Performance

HALO stock opened at $70.31 on Friday. The firm has a 50 day simple moving average of $67.53 and a two-hundred day simple moving average of $65.90. The company has a debt-to-equity ratio of 1.59, a current ratio of 1.59 and a quick ratio of 1.37. The stock has a market cap of $8.27 billion, a PE ratio of 14.80, a P/E/G ratio of 0.30 and a beta of 0.94. Halozyme Therapeutics, Inc. has a one year low of $47.50 and a one year high of $79.50.

Halozyme Therapeutics (NASDAQ:HALO) last posted its quarterly earnings data on Monday, November 3rd. The biopharmaceutical company reported $1.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.63 by $0.09. Halozyme Therapeutics had a net margin of 47.91% and a return on equity of 156.95%. The company had revenue of $354.26 million during the quarter, compared to the consensus estimate of $339.18 million. During the same period in the previous year, the firm posted $1.27 EPS. The firm’s revenue was up 22.1% compared to the same quarter last year. On average, analysts predict that Halozyme Therapeutics, Inc. will post 4.73 EPS for the current fiscal year.

Halozyme Therapeutics Profile

Halozyme Therapeutics, Inc is a biopharmaceutical company headquartered in San Diego, California, that specializes in the development and commercialization of novel drug-delivery technologies. Founded in 1998, Halozyme focuses on enabling subcutaneous administration of biologic therapies through its proprietary platforms. The company’s core mission is to improve patient access and convenience while maintaining efficacy and safety profiles comparable to or better than traditional routes of administration.

The company’s flagship technology, ENHANZE®, is based on recombinant human hyaluronidase PH20 (rHuPH20), an enzyme that transiently degrades hyaluronan in the extracellular matrix.