Halozyme Therapeutics, Inc. (HALO) Major Shareholder Sells $11,661,563.84 in Stock

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Halozyme Therapeutics, Inc. (NASDAQ:HALO) major shareholder Randal J. Kirk sold 644,998 shares of the company’s stock in a transaction on Tuesday, August 28th. The shares were sold at an average price of $18.08, for a total transaction of $11,661,563.84. Following the sale, the insider now owns 3,562,388 shares of the company’s stock, valued at approximately $64,407,975.04. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Shares of Halozyme Therapeutics stock opened at $18.27 on Friday. The firm has a market cap of $2.62 billion, a price-to-earnings ratio of 40.60 and a beta of 1.93. Halozyme Therapeutics, Inc. has a 52 week low of $12.43 and a 52 week high of $21.48. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.49 and a quick ratio of 3.43.

Halozyme Therapeutics (NASDAQ:HALO) last issued its earnings results on Tuesday, August 7th. The biopharmaceutical company reported ($0.16) EPS for the quarter, beating the consensus estimate of ($0.22) by $0.06. The company had revenue of $35.20 million during the quarter, compared to analysts’ expectations of $31.49 million. Halozyme Therapeutics had a net margin of 23.88% and a return on equity of 38.10%. sell-side analysts forecast that Halozyme Therapeutics, Inc. will post -0.8 EPS for the current year.

Several hedge funds have recently made changes to their positions in the company. Colony Group LLC acquired a new position in shares of Halozyme Therapeutics in the 2nd quarter valued at $1,225,000. First Light Asset Management LLC grew its holdings in shares of Halozyme Therapeutics by 76.9% in the 2nd quarter. First Light Asset Management LLC now owns 889,729 shares of the biopharmaceutical company’s stock valued at $15,010,000 after buying an additional 386,700 shares during the period. Cubist Systematic Strategies LLC grew its holdings in shares of Halozyme Therapeutics by 69.1% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 22,346 shares of the biopharmaceutical company’s stock valued at $377,000 after buying an additional 9,134 shares during the period. Bank of America Corp DE grew its holdings in shares of Halozyme Therapeutics by 61.3% in the 2nd quarter. Bank of America Corp DE now owns 167,497 shares of the biopharmaceutical company’s stock valued at $2,826,000 after buying an additional 63,654 shares during the period. Finally, Raymond James & Associates acquired a new position in shares of Halozyme Therapeutics in the 2nd quarter valued at $222,000. 83.88% of the stock is owned by institutional investors.

HALO has been the subject of several recent research reports. BidaskClub cut shares of Halozyme Therapeutics from a “buy” rating to a “hold” rating in a research report on Tuesday, June 26th. Zacks Investment Research upgraded shares of Halozyme Therapeutics from a “hold” rating to a “buy” rating and set a $19.00 target price for the company in a research report on Wednesday, July 11th. Barclays cut shares of Halozyme Therapeutics from an “equal weight” rating to an “underweight” rating and set a $19.00 target price for the company. in a research report on Friday, May 11th. ValuEngine cut shares of Halozyme Therapeutics from a “buy” rating to a “hold” rating in a research report on Friday, June 22nd. Finally, Cantor Fitzgerald initiated coverage on shares of Halozyme Therapeutics in a research report on Wednesday, August 22nd. They set an “overweight” rating and a $27.00 target price for the company. One analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $22.11.

Halozyme Therapeutics Company Profile

Halozyme Therapeutics, Inc, a biotechnology company, researches, develops, and commercializes human enzymes and other drug candidates in the United States, Switzerland, and internationally. The company's human enzymes are used to facilitate the delivery of injected drugs and fluids, enhancing the efficacy and the convenience of other drugs or can be used to alter tissue structures for clinical benefit.

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