ING Groep NV Acquires New Stake in Halozyme Therapeutics, Inc. $HALO

ING Groep NV acquired a new stake in Halozyme Therapeutics, Inc. (NASDAQ:HALO) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 90,700 shares of the biopharmaceutical company’s stock, valued at approximately $6,652,000. ING Groep NV owned approximately 0.08% of Halozyme Therapeutics as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Baader Bank Aktiengesellschaft purchased a new position in shares of Halozyme Therapeutics in the third quarter worth about $309,000. Azzad Asset Management Inc. ADV acquired a new stake in Halozyme Therapeutics in the 3rd quarter valued at about $875,000. Smartleaf Asset Management LLC raised its holdings in Halozyme Therapeutics by 209.4% in the 3rd quarter. Smartleaf Asset Management LLC now owns 1,148 shares of the biopharmaceutical company’s stock valued at $84,000 after acquiring an additional 777 shares during the last quarter. Alps Advisors Inc. lifted its stake in Halozyme Therapeutics by 3.0% in the 3rd quarter. Alps Advisors Inc. now owns 5,926 shares of the biopharmaceutical company’s stock worth $435,000 after purchasing an additional 170 shares in the last quarter. Finally, Renaissance Group LLC acquired a new position in shares of Halozyme Therapeutics during the 3rd quarter worth approximately $35,110,000. Hedge funds and other institutional investors own 97.79% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on HALO shares. Weiss Ratings raised Halozyme Therapeutics from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday. TD Cowen raised their target price on Halozyme Therapeutics from $79.00 to $90.00 and gave the stock a “buy” rating in a research note on Thursday, January 8th. Citigroup reiterated a “market outperform” rating on shares of Halozyme Therapeutics in a report on Tuesday, November 4th. Wall Street Zen raised shares of Halozyme Therapeutics from a “buy” rating to a “strong-buy” rating in a research report on Saturday, January 31st. Finally, Morgan Stanley dropped their price objective on shares of Halozyme Therapeutics from $80.00 to $79.00 and set an “overweight” rating for the company in a report on Monday, October 20th. Eight equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $78.80.

Halozyme Therapeutics Price Performance

NASDAQ:HALO opened at $76.92 on Friday. Halozyme Therapeutics, Inc. has a 52 week low of $47.50 and a 52 week high of $82.22. The stock’s fifty day moving average is $70.53 and its two-hundred day moving average is $69.67. The company has a market capitalization of $9.05 billion, a P/E ratio of 16.19, a P/E/G ratio of 0.33 and a beta of 0.97. The company has a quick ratio of 1.37, a current ratio of 1.59 and a debt-to-equity ratio of 1.59.

Insider Transactions at Halozyme Therapeutics

In other Halozyme Therapeutics news, Director Bernadette Connaughton sold 2,000 shares of Halozyme Therapeutics stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $70.25, for a total transaction of $140,500.00. Following the completion of the sale, the director directly owned 40,123 shares in the company, valued at $2,818,640.75. This trade represents a 4.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Helen Torley sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $76.12, for a total transaction of $1,522,400.00. Following the completion of the sale, the chief executive officer directly owned 708,719 shares in the company, valued at $53,947,690.28. This trade represents a 2.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 49,398 shares of company stock worth $3,650,592 in the last ninety days. 2.40% of the stock is currently owned by corporate insiders.

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.