Granite Investment Partners LLC Sells 57,500 Shares of Halozyme Therapeutics, Inc. $HALO

Granite Investment Partners LLC cut its stake in shares of Halozyme Therapeutics, Inc. (NASDAQ:HALO) by 66.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 29,435 shares of the biopharmaceutical company’s stock after selling 57,500 shares during the period. Granite Investment Partners LLC’s holdings in Halozyme Therapeutics were worth $2,159,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. DLD Asset Management LP bought a new position in Halozyme Therapeutics during the second quarter worth about $650,250,000. Arrowstreet Capital Limited Partnership raised its position in shares of Halozyme Therapeutics by 127.8% in 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 acquiring an additional 1,425,674 shares during the period. Federated Hermes Inc. raised its position in shares of Halozyme Therapeutics by 294.1% in the 3rd quarter. Federated Hermes Inc. now owns 1,450,704 shares of the biopharmaceutical company’s stock valued at $106,395,000 after acquiring an additional 1,082,638 shares during the period. LSV Asset Management boosted its stake in Halozyme Therapeutics by 0.9% during the 3rd quarter. LSV Asset Management now owns 1,266,027 shares of the biopharmaceutical company’s stock worth $92,850,000 after acquiring an additional 10,787 shares during the last quarter. Finally, Royal London Asset Management Ltd. boosted its stake in Halozyme Therapeutics by 122.3% during the 2nd quarter. Royal London Asset Management Ltd. now owns 1,101,912 shares of the biopharmaceutical company’s stock worth $57,321,000 after acquiring an additional 606,236 shares during the last quarter. Institutional investors own 97.79% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on HALO shares. TD Cowen reaffirmed a “buy” rating on shares of Halozyme Therapeutics in a research note on Wednesday, February 18th. Wells Fargo & Company boosted their price target on shares of Halozyme Therapeutics from $65.00 to $75.00 and gave the company an “equal weight” rating in a report on Thursday, February 19th. Citigroup restated a “market outperform” rating on shares of Halozyme Therapeutics in a research report on Tuesday, November 4th. HC Wainwright reiterated a “buy” rating on shares of Halozyme Therapeutics in a report on Thursday, January 29th. Finally, JPMorgan Chase & Co. boosted their target price on Halozyme Therapeutics from $63.00 to $65.00 and gave the company a “neutral” rating in a research note on Monday, October 27th. Seven analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $78.56.

Insider Buying and Selling

In related news, CEO Helen Torley sold 10,000 shares of Halozyme Therapeutics stock in a transaction that occurred on Thursday, February 5th. The stock was sold at an average price of $78.64, for a total value of $786,400.00. Following the sale, the chief executive officer owned 708,719 shares of the company’s stock, valued at approximately $55,733,662.16. This trade represents a 1.39% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Bernadette Connaughton sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $70.25, for a total value of $140,500.00. Following the completion of the sale, the director owned 40,123 shares in the company, valued at $2,818,640.75. The trade was a 4.75% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 49,398 shares of company stock worth $3,650,592. 2.40% of the stock is owned by insiders.

Halozyme Therapeutics Trading Down 0.5%

HALO opened at $70.64 on Tuesday. The stock has a market capitalization of $8.34 billion, a P/E ratio of 28.37, a P/E/G ratio of 0.29 and a beta of 0.97. The company has a current ratio of 4.66, a quick ratio of 3.66 and a debt-to-equity ratio of 43.89. Halozyme Therapeutics, Inc. has a 12 month low of $47.50 and a 12 month high of $82.22. The firm’s fifty day simple moving average is $72.29 and its 200 day simple moving average is $70.54.

Halozyme Therapeutics (NASDAQ:HALO) last released its earnings results on Tuesday, February 17th. The biopharmaceutical company reported ($0.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.92 by ($2.16). The firm had revenue of $451.77 million for the quarter, compared to the consensus estimate of $446.13 million. Halozyme Therapeutics had a return on equity of 136.12% and a net margin of 22.69%.Halozyme Therapeutics’s revenue for the quarter was up 51.6% on a year-over-year basis. During the same quarter last year, the company posted $1.26 EPS. As a group, research analysts anticipate 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.