Hodges Capital Management Inc. Lowers Position in Halozyme Therapeutics, Inc. (NASDAQ:HALO)

Hodges Capital Management Inc. trimmed its position in Halozyme Therapeutics, Inc. (NASDAQ:HALO) by 5.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 320,544 shares of the biopharmaceutical company’s stock after selling 18,312 shares during the period. Halozyme Therapeutics accounts for 1.2% of Hodges Capital Management Inc.’s portfolio, making the stock its 22nd biggest position. Hodges Capital Management Inc. owned approximately 0.25% of Halozyme Therapeutics worth $18,348,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. GAMMA Investing LLC boosted its stake in Halozyme Therapeutics by 96.6% in the 2nd quarter. GAMMA Investing LLC now owns 517 shares of the biopharmaceutical company’s stock worth $27,000 after purchasing an additional 254 shares in the last quarter. International Assets Investment Management LLC purchased a new position in Halozyme Therapeutics in the second quarter worth about $33,000. Skandinaviska Enskilda Banken AB publ bought a new position in shares of Halozyme Therapeutics in the second quarter worth approximately $49,000. Toth Financial Advisory Corp purchased a new stake in shares of Halozyme Therapeutics during the third quarter valued at approximately $57,000. Finally, FSC Wealth Advisors LLC bought a new stake in shares of Halozyme Therapeutics during the third quarter valued at approximately $65,000. Institutional investors own 97.79% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on HALO shares. JPMorgan Chase & Co. cut Halozyme Therapeutics from an “overweight” rating to a “neutral” rating and upped their price objective for the company from $52.00 to $57.00 in a research report on Thursday, September 19th. HC Wainwright reaffirmed a “buy” rating and set a $68.00 price objective on shares of Halozyme Therapeutics in a research report on Wednesday, November 20th. JMP Securities lifted their price objective on Halozyme Therapeutics from $72.00 to $73.00 and gave the stock a “market outperform” rating in a report on Friday, November 1st. Piper Sandler upped their target price on shares of Halozyme Therapeutics from $51.00 to $52.00 and gave the company a “neutral” rating in a research note on Monday, November 4th. Finally, Cowen reiterated a “buy” rating on shares of Halozyme Therapeutics in a research note on Friday, October 18th. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $61.11.

Insiders Place Their Bets

In other news, CEO Helen Torley sold 10,000 shares of the stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $59.20, for a total transaction of $592,000.00. Following the transaction, the chief executive officer now directly owns 676,744 shares in the company, valued at approximately $40,063,244.80. This trade represents a 1.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last ninety days, insiders sold 60,000 shares of company stock worth $3,425,000. 2.40% of the stock is currently owned by company insiders.

Halozyme Therapeutics Price Performance

Shares of HALO stock opened at $48.40 on Friday. The company’s 50-day simple moving average is $52.43 and its two-hundred day simple moving average is $53.85. The company has a debt-to-equity ratio of 3.32, a current ratio of 10.36 and a quick ratio of 9.15. Halozyme Therapeutics, Inc. has a one year low of $33.15 and a one year high of $65.53. The company has a market capitalization of $6.16 billion, a P/E ratio of 16.03, a P/E/G ratio of 0.44 and a beta of 1.23.

About Halozyme Therapeutics

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.