Halozyme Therapeutics, Inc. $HALO Shares Sold by Cresset Asset Management LLC

Cresset Asset Management LLC lessened its holdings in shares of Halozyme Therapeutics, Inc. (NASDAQ:HALO) by 22.6% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 225,941 shares of the biopharmaceutical company’s stock after selling 66,013 shares during the quarter. Cresset Asset Management LLC’s holdings in Halozyme Therapeutics were worth $16,571,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Root Financial Partners LLC acquired a new position in Halozyme Therapeutics during the 3rd quarter valued at about $25,000. Richardson Financial Services Inc. boosted its holdings in Halozyme Therapeutics by 87.6% in the third quarter. Richardson Financial Services Inc. now owns 424 shares of the biopharmaceutical company’s stock worth $31,000 after acquiring an additional 198 shares in the last quarter. Newbridge Financial Services Group Inc. purchased a new stake in shares of Halozyme Therapeutics during the second quarter worth about $32,000. Employees Retirement System of Texas purchased a new stake in shares of Halozyme Therapeutics during the second quarter worth about $34,000. Finally, Clearstead Advisors LLC increased 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 valued at $37,000 after acquiring an additional 265 shares in the last quarter. Institutional investors and hedge funds own 97.79% of the company’s stock.

Analyst Ratings Changes

HALO has been the subject of a number of recent analyst reports. Wells Fargo & Company lifted their target price on shares of Halozyme Therapeutics from $65.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 19th. TD Cowen restated a “buy” rating on shares of Halozyme Therapeutics in a research note on Wednesday, February 18th. The Goldman Sachs Group reiterated a “sell” rating and set a $56.00 price objective on shares of Halozyme Therapeutics in a research note on Thursday, December 4th. HC Wainwright reissued a “buy” rating on shares of Halozyme Therapeutics in a report on Thursday, January 29th. Finally, Weiss Ratings downgraded Halozyme Therapeutics from a “buy (b-)” rating to a “hold (c)” rating in a research report on Tuesday, February 24th. 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 company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $78.56.

Insider Buying and Selling

In related news, CEO Helen Torley sold 10,000 shares of the stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $70.21, for a total transaction of $702,100.00. Following the sale, the chief executive officer directly owned 767,780 shares of the company’s stock, valued at approximately $53,905,833.80. This represents a 1.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Bernadette Connaughton sold 2,000 shares of the firm’s stock in a transaction on Monday, January 5th. The shares were sold at an average price of $70.25, for a total transaction of $140,500.00. Following the sale, the director owned 40,123 shares in the company, valued at approximately $2,818,640.75. This represents a 4.75% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 62,000 shares of company stock worth $4,545,200 in the last ninety days. Corporate insiders own 2.40% of the company’s stock.

Halozyme Therapeutics Stock Performance

NASDAQ HALO opened at $70.02 on Thursday. The firm has a market capitalization of $8.26 billion, a P/E ratio of 28.12, a PEG ratio of 0.28 and a beta of 0.98. The stock has a 50-day simple moving average of $72.71 and a two-hundred day simple moving average of $70.76. The company has a debt-to-equity ratio of 43.89, a quick ratio of 3.66 and a current ratio of 4.66. Halozyme Therapeutics, Inc. has a fifty-two week low of $47.50 and a fifty-two week high of $82.22.

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

About Halozyme Therapeutics

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.