Huntington National Bank Grows Holdings in Halozyme Therapeutics, Inc. (NASDAQ:HALO)

Huntington National Bank grew its stake in shares of Halozyme Therapeutics, Inc. (NASDAQ:HALO) by 68.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,180 shares of the biopharmaceutical company’s stock after purchasing an additional 1,289 shares during the quarter. Huntington National Bank’s holdings in Halozyme Therapeutics were worth $152,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in HALO. Norges Bank purchased a new stake in Halozyme Therapeutics in the 4th quarter valued at about $60,054,000. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Halozyme Therapeutics by 141.3% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 992,887 shares of the biopharmaceutical company’s stock valued at $47,470,000 after purchasing an additional 581,475 shares during the period. Raymond James Financial Inc. purchased a new position in Halozyme Therapeutics during the 4th quarter worth $21,838,000. Vanguard Group Inc. increased its holdings in Halozyme Therapeutics by 3.0% during the 4th quarter. Vanguard Group Inc. now owns 13,281,714 shares of the biopharmaceutical company’s stock worth $634,999,000 after purchasing an additional 386,618 shares during the period. Finally, Janney Montgomery Scott LLC raised its position in Halozyme Therapeutics by 698.8% during the 4th quarter. Janney Montgomery Scott LLC now owns 287,731 shares of the biopharmaceutical company’s stock valued at $13,756,000 after purchasing an additional 251,711 shares in the last quarter. 97.79% of the stock is currently owned by institutional investors.

Halozyme Therapeutics Price Performance

Shares of HALO stock opened at $59.77 on Friday. The firm has a market capitalization of $7.38 billion, a price-to-earnings ratio of 17.43, a PEG ratio of 0.42 and a beta of 1.32. The company has a debt-to-equity ratio of 4.14, a quick ratio of 9.15 and a current ratio of 7.80. The stock’s 50-day simple moving average is $59.82 and its 200-day simple moving average is $54.93. Halozyme Therapeutics, Inc. has a fifty-two week low of $37.73 and a fifty-two week high of $66.00.

Halozyme Therapeutics (NASDAQ:HALO) last issued its quarterly earnings results on Tuesday, February 18th. The biopharmaceutical company reported $1.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.17 by $0.02. Halozyme Therapeutics had a net margin of 43.74% and a return on equity of 157.78%. The business had revenue of $298.01 million for the quarter, compared to analyst estimates of $285.74 million. As a group, equities analysts forecast that Halozyme Therapeutics, Inc. will post 4.73 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. HC Wainwright restated a “buy” rating on shares of Halozyme Therapeutics in a research note on Thursday, March 6th. Benchmark reaffirmed a “buy” rating and issued a $75.00 price target on shares of Halozyme Therapeutics in a research report on Thursday, February 20th. Piper Sandler lifted their price objective on shares of Halozyme Therapeutics from $52.00 to $53.00 and gave the company a “neutral” rating in a report on Friday, January 10th. Finally, Wells Fargo & Company lowered their target price on Halozyme Therapeutics from $62.00 to $57.00 and set an “equal weight” rating for the company in a report on Monday, January 13th. Four analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, Halozyme Therapeutics currently has an average rating of “Moderate Buy” and an average price target of $62.78.

Insider Activity

In other news, Director Jeffrey William Henderson sold 5,000 shares of the stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $56.30, for a total value of $281,500.00. Following the sale, the director now owns 38,611 shares in the company, valued at $2,173,799.30. This represents a 11.46 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Michael J. Labarre sold 10,000 shares of the business’s stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $58.05, for a total transaction of $580,500.00. Following the transaction, the senior vice president now owns 185,453 shares of the company’s stock, valued at $10,765,546.65. This represents a 5.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 32,200 shares of company stock valued at $1,786,668. Company insiders own 2.90% of the company’s stock.

Halozyme Therapeutics Profile

Halozyme Therapeutics, Inc, a biopharma technology platform company, researches, develops, and commercializes proprietary enzymes and devices in the United States, Switzerland, Belgium, Japan, and internationally. The company's products are based on the patented recombinant human hyaluronidase enzyme (rHuPH20) that enables delivery of injectable biologics, such as monoclonal antibodies and other therapeutic molecules, as well as small molecules and fluids.