Profund Advisors LLC Trims Stock Holdings in Halozyme Therapeutics, Inc. $HALO

Profund Advisors LLC cut its holdings in shares of Halozyme Therapeutics, Inc. (NASDAQ:HALO) by 35.9% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 24,631 shares of the biopharmaceutical company’s stock after selling 13,809 shares during the quarter. Profund Advisors LLC’s holdings in Halozyme Therapeutics were worth $1,806,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. DLD Asset Management LP bought a new stake in shares of Halozyme Therapeutics in the second quarter worth $650,250,000. Arrowstreet Capital Limited Partnership grew its holdings in 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 worth $132,192,000 after acquiring an additional 1,425,674 shares in the last quarter. Federated Hermes Inc. grew its stake in Halozyme Therapeutics by 294.1% in the third quarter. Federated Hermes Inc. now owns 1,450,704 shares of the biopharmaceutical company’s stock worth $106,395,000 after purchasing an additional 1,082,638 shares in the last quarter. Qube Research & Technologies Ltd acquired a new position in shares of Halozyme Therapeutics in the 2nd quarter worth approximately $51,295,000. Finally, Los Angeles Capital Management LLC raised its position in shares of 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 valued at $50,650,000 after acquiring an additional 881,094 shares in the last quarter. 97.79% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have weighed in on HALO. JPMorgan Chase & Co. boosted their target price on shares of Halozyme Therapeutics from $63.00 to $65.00 and gave the company a “neutral” rating in a research note on Monday, October 27th. The Goldman Sachs Group reiterated a “sell” rating and set a $56.00 price target on shares of Halozyme Therapeutics in a research report on Thursday, December 4th. Wall Street Zen upgraded Halozyme Therapeutics from a “buy” rating to a “strong-buy” rating in a research note on Saturday, January 31st. Morgan Stanley cut their target price on Halozyme Therapeutics from $80.00 to $79.00 and set an “overweight” rating on the stock in a research note on Monday, October 20th. Finally, Leerink Partners raised shares of Halozyme Therapeutics from an “underperform” rating to a “market perform” rating and set a $70.00 price target for the company in a report on Tuesday, October 14th. Seven analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Halozyme Therapeutics currently has a consensus rating of “Hold” and an average target price of $78.80.

Insider Activity at Halozyme Therapeutics

In other news, Director Bernadette Connaughton sold 2,000 shares of the firm’s stock in a transaction on Monday, January 5th. The stock was 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 of the company’s stock, valued at $2,818,640.75. This trade represents a 4.75% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Helen Torley sold 10,000 shares of Halozyme Therapeutics stock in a transaction 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 completion of the transaction, the chief executive officer owned 708,719 shares in the company, valued at $55,733,662.16. The trade was a 1.39% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 49,398 shares of company stock valued at $3,650,592. Company insiders own 2.90% of the company’s stock.

Halozyme Therapeutics Stock Performance

HALO opened at $80.48 on Tuesday. 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 company has a market capitalization of $9.46 billion, a price-to-earnings ratio of 16.94, a price-to-earnings-growth ratio of 0.34 and a beta of 0.97. The business has a 50 day moving average price of $69.68 and a two-hundred day moving average price of $69.39. Halozyme Therapeutics, Inc. has a 1-year low of $47.50 and a 1-year high of $82.22.

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.