Future Fund LLC Lowers Stake in Halozyme Therapeutics, Inc. (NASDAQ:HALO)

Future Fund LLC reduced its holdings in shares of Halozyme Therapeutics, Inc. (NASDAQ:HALO) by 69.4% in the third quarter, HoldingsChannel reports. The fund owned 11,096 shares of the biopharmaceutical company’s stock after selling 25,199 shares during the period. Halozyme Therapeutics accounts for 1.9% of Future Fund LLC’s portfolio, making the stock its 26th biggest holding. Future Fund LLC’s holdings in Halozyme Therapeutics were worth $634,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. GAMMA Investing LLC lifted its position in Halozyme Therapeutics by 96.6% during the 2nd quarter. GAMMA Investing LLC now owns 517 shares of the biopharmaceutical company’s stock valued at $27,000 after acquiring an additional 254 shares during the period. 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 purchased a new position in Halozyme Therapeutics in the second quarter worth about $49,000. Toth Financial Advisory Corp purchased a new position in Halozyme Therapeutics in the third quarter worth about $57,000. Finally, FSC Wealth Advisors LLC purchased a new position in Halozyme Therapeutics in the third quarter worth about $65,000. 97.79% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Piper Sandler lifted their target price on shares of Halozyme Therapeutics from $51.00 to $52.00 and gave the stock a “neutral” rating in a report on Monday, November 4th. Benchmark reaffirmed a “buy” rating and issued a $60.00 target price on shares of Halozyme Therapeutics in a report on Thursday, August 8th. Cowen reaffirmed a “buy” rating on shares of Halozyme Therapeutics in a report on Friday, October 18th. Morgan Stanley lifted their target price on shares of Halozyme Therapeutics from $59.00 to $64.00 and gave the stock an “overweight” rating in a report on Wednesday, August 7th. Finally, Wells Fargo & Company lowered shares of Halozyme Therapeutics from an “overweight” rating to an “equal weight” rating and lifted their price target for the stock from $58.00 to $62.00 in a research note on Monday, October 7th. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, Halozyme Therapeutics has an average rating of “Moderate Buy” and a consensus price target of $61.11.

Insiders Place Their Bets

In other Halozyme Therapeutics news, SVP Michael J. Labarre sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $53.26, for a total value of $532,600.00. Following the completion of the transaction, the senior vice president now directly owns 173,756 shares in the company, valued at $9,254,244.56. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders sold a total of 70,000 shares of company stock worth $4,042,500 over the last three months. 2.70% of the stock is currently owned by company insiders.

Halozyme Therapeutics Stock Performance

Shares of NASDAQ HALO opened at $59.61 on Wednesday. The firm has a 50 day moving average of $56.53 and a 200 day moving average of $53.18. The company has a current ratio of 10.36, a quick ratio of 9.15 and a debt-to-equity ratio of 3.32. The firm has a market capitalization of $7.58 billion, a price-to-earnings ratio of 19.74, a price-to-earnings-growth ratio of 0.56 and a beta of 1.29. Halozyme Therapeutics, Inc. has a 12-month low of $33.15 and a 12-month high of $65.53.

Halozyme Therapeutics Company 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.