Teachers Retirement System of The State of Kentucky Trims Stake in Halozyme Therapeutics, Inc. (NASDAQ:HALO)

Teachers Retirement System of The State of Kentucky reduced its stake in Halozyme Therapeutics, Inc. (NASDAQ:HALO) by 2.5% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 42,911 shares of the biopharmaceutical company’s stock after selling 1,110 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Halozyme Therapeutics were worth $2,456,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of HALO. Geode Capital Management LLC raised its stake in shares of Halozyme Therapeutics by 1.0% in the third quarter. Geode Capital Management LLC now owns 3,060,131 shares of the biopharmaceutical company’s stock worth $175,194,000 after buying an additional 30,901 shares during the period. Congress Asset Management Co. increased its holdings in Halozyme Therapeutics by 446.5% in the 3rd quarter. Congress Asset Management Co. now owns 2,433,579 shares of the biopharmaceutical company’s stock worth $139,298,000 after acquiring an additional 1,988,238 shares in the last quarter. Handelsbanken Fonder AB increased its holdings in Halozyme Therapeutics by 76.9% in the 3rd quarter. Handelsbanken Fonder AB now owns 1,969,169 shares of the biopharmaceutical company’s stock worth $112,715,000 after acquiring an additional 856,200 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Halozyme Therapeutics by 12.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,897,759 shares of the biopharmaceutical company’s stock worth $99,363,000 after acquiring an additional 209,530 shares during the period. Finally, American Century Companies Inc. lifted its holdings in Halozyme Therapeutics by 9.7% during the second quarter. American Century Companies Inc. now owns 821,266 shares of the biopharmaceutical company’s stock valued at $43,002,000 after purchasing an additional 72,544 shares in the last quarter. 97.79% of the stock is currently owned by hedge funds and other institutional investors.

Halozyme Therapeutics Stock Performance

NASDAQ HALO opened at $48.00 on Monday. 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 1-year low of $33.15 and a 1-year high of $65.53. The business has a 50 day simple moving average of $51.43 and a two-hundred day simple moving average of $54.07. The stock has a market capitalization of $6.11 billion, a PE ratio of 15.89, a P/E/G ratio of 0.43 and a beta of 1.23.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on HALO. JPMorgan Chase & Co. downgraded shares of Halozyme Therapeutics from an “overweight” rating to a “neutral” rating and raised their price objective for the company from $52.00 to $57.00 in a research report on Thursday, September 19th. JMP Securities raised their price target on Halozyme Therapeutics from $72.00 to $73.00 and gave the company a “market outperform” rating in a report on Friday, November 1st. Cowen reaffirmed a “buy” rating on shares of Halozyme Therapeutics in a research note on Friday, October 18th. Wells Fargo & Company cut Halozyme Therapeutics from an “overweight” rating to an “equal weight” rating and increased their target price for the stock from $58.00 to $62.00 in a research report on Monday, October 7th. Finally, HC Wainwright reissued a “buy” rating and issued a $68.00 price target on shares of Halozyme Therapeutics in a report on Wednesday, November 20th. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Halozyme Therapeutics currently has a consensus rating of “Moderate Buy” and an average target price of $61.11.

Insider Activity at Halozyme Therapeutics

In related news, SVP Michael J. Labarre sold 10,000 shares of the company’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $62.03, for a total transaction of $620,300.00. Following the sale, the senior vice president now owns 173,756 shares of the company’s stock, valued at $10,778,084.68. This represents a 5.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Over the last ninety days, insiders sold 40,000 shares of company stock valued at $2,242,100. 2.40% of the stock is owned by corporate insiders.

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.