Neo Ivy Capital Management Cuts Stake in Halozyme Therapeutics, Inc. $HALO

Neo Ivy Capital Management trimmed its position in Halozyme Therapeutics, Inc. (NASDAQ:HALO) by 77.6% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,386 shares of the biopharmaceutical company’s stock after selling 18,687 shares during the quarter. Neo Ivy Capital Management’s holdings in Halozyme Therapeutics were worth $395,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in HALO. Root Financial Partners LLC acquired a new position in Halozyme Therapeutics in the 3rd quarter worth $25,000. Richardson Financial Services Inc. increased its holdings in shares of Halozyme Therapeutics by 87.6% in the 3rd quarter. Richardson Financial Services Inc. now owns 424 shares of the biopharmaceutical company’s stock valued at $31,000 after acquiring an additional 198 shares during the last quarter. Clearstead Advisors LLC raised its holdings in shares of Halozyme Therapeutics by 107.7% during the third quarter. Clearstead Advisors LLC now owns 511 shares of the biopharmaceutical company’s stock worth $37,000 after purchasing an additional 265 shares during the period. Newbridge Financial Services Group Inc. bought a new position in Halozyme Therapeutics in the second quarter worth about $32,000. Finally, Employees Retirement System of Texas bought a new stake in shares of Halozyme Therapeutics in the 2nd quarter worth approximately $34,000. 97.79% of the stock is owned by hedge funds and other institutional investors.

Halozyme Therapeutics Stock Up 0.0%

HALO stock opened at $67.37 on Monday. The company has a market cap of $7.95 billion, a PE ratio of 27.06, a price-to-earnings-growth ratio of 0.27 and a beta of 0.98. The company has a quick ratio of 3.66, a current ratio of 4.66 and a debt-to-equity ratio of 43.89. Halozyme Therapeutics, Inc. has a twelve month low of $47.50 and a twelve month high of $82.22. The business’s 50-day simple moving average is $72.66 and its 200 day simple moving average is $70.72.

Halozyme Therapeutics (NASDAQ:HALO) last announced its quarterly earnings results on Tuesday, February 17th. The biopharmaceutical company reported ($0.24) earnings per share (EPS) for the quarter, missing the consensus estimate of $1.92 by ($2.16). Halozyme Therapeutics had a net margin of 22.69% and a return on equity of 136.12%. The business had revenue of $451.77 million during the quarter, compared to the consensus estimate of $446.13 million. During the same period last year, the firm earned $1.26 EPS. The company’s quarterly revenue was up 51.6% compared to the same quarter last year. On average, research analysts anticipate that Halozyme Therapeutics, Inc. will post 4.73 earnings per share for the current year.

Insider Transactions at Halozyme Therapeutics

In related news, Director Bernadette Connaughton sold 2,000 shares of the business’s stock in a transaction on Monday, January 5th. The stock was sold at an average price of $70.25, for a total value of $140,500.00. Following the sale, the director owned 40,123 shares of the company’s stock, valued at $2,818,640.75. The trade was a 4.75% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Helen Torley sold 10,000 shares of the company’s stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $70.21, for a total value of $702,100.00. Following the completion of the sale, the chief executive officer owned 767,780 shares in the company, valued at $53,905,833.80. This trade represents a 1.29% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 62,000 shares of company stock worth $4,545,200. 2.90% of the stock is currently owned by insiders.

Analyst Ratings Changes

HALO has been the topic of several recent analyst reports. Benchmark lifted their target price on Halozyme Therapeutics from $75.00 to $90.00 and gave the company a “buy” rating in a research note on Thursday, February 19th. Wall Street Zen cut Halozyme Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Saturday, February 21st. Wells Fargo & Company raised their price objective on Halozyme Therapeutics from $65.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 19th. The Goldman Sachs Group reiterated a “sell” rating and set a $56.00 price objective on shares of Halozyme Therapeutics in a research report on Thursday, December 4th. Finally, HC Wainwright reiterated a “buy” rating on shares of Halozyme Therapeutics in a report on Thursday, January 29th. Six analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $78.56.

Halozyme Therapeutics Company 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.