Alliancebernstein L.P. Sells 547,913 Shares of Halozyme Therapeutics, Inc. $HALO

Alliancebernstein L.P. trimmed its position in shares of Halozyme Therapeutics, Inc. (NASDAQ:HALO) by 22.3% during the 3rd quarter, Holdings Channel reports. The fund owned 1,907,355 shares of the biopharmaceutical company’s stock after selling 547,913 shares during the period. Alliancebernstein L.P.’s holdings in Halozyme Therapeutics were worth $139,885,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of HALO. DLD Asset Management LP increased its position in Halozyme Therapeutics by 20.0% in the third quarter. DLD Asset Management LP now owns 30,000,000 shares of the biopharmaceutical company’s stock worth $2,200,200,000 after purchasing an additional 5,000,000 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Halozyme Therapeutics by 29.5% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 3,290,665 shares of the biopharmaceutical company’s stock valued at $241,337,000 after acquiring an additional 749,484 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Halozyme Therapeutics by 3.2% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,078,426 shares of the biopharmaceutical company’s stock valued at $152,431,000 after acquiring an additional 63,699 shares during the last quarter. Federated Hermes Inc. grew its position in Halozyme Therapeutics by 294.1% in the third quarter. Federated Hermes Inc. now owns 1,450,704 shares of the biopharmaceutical company’s stock worth $106,395,000 after acquiring an additional 1,082,638 shares in the last quarter. Finally, LSV Asset Management grew its position in Halozyme Therapeutics by 0.9% in the third quarter. LSV Asset Management now owns 1,266,027 shares of the biopharmaceutical company’s stock worth $92,850,000 after acquiring an additional 10,787 shares in the last quarter. 97.79% of the stock is owned by hedge funds and other institutional investors.

Halozyme Therapeutics Price Performance

Shares of HALO stock opened at $64.29 on Tuesday. The stock has a 50 day moving average price of $72.28 and a 200 day moving average price of $70.44. Halozyme Therapeutics, Inc. has a 52-week low of $47.50 and a 52-week high of $82.22. The company has a debt-to-equity ratio of 43.89, a quick ratio of 3.66 and a current ratio of 4.66. The firm has a market capitalization of $7.59 billion, a P/E ratio of 25.82, a P/E/G ratio of 0.26 and a beta of 0.98.

Halozyme Therapeutics (NASDAQ:HALO) last announced its quarterly earnings data on Tuesday, February 17th. The biopharmaceutical company reported ($0.24) EPS for the quarter, missing the consensus estimate of $1.92 by ($2.16). Halozyme Therapeutics had a net margin of 22.69% and a return on equity of 136.12%. The business had revenue of $451.77 million during the quarter, compared to the consensus estimate of $446.13 million. During the same period last year, the company earned $1.26 EPS. The business’s revenue was up 51.6% compared to the same quarter last year. As a group, sell-side analysts predict that Halozyme Therapeutics, Inc. will post 4.73 earnings per share for the current year.

Analyst Ratings Changes

HALO has been the topic of a number of recent research reports. Weiss Ratings downgraded Halozyme Therapeutics from a “buy (b-)” rating to a “hold (c)” rating in a research report on Tuesday, February 24th. Benchmark boosted their target price on Halozyme Therapeutics from $75.00 to $90.00 and gave the company a “buy” rating in a research report on Thursday, February 19th. The Goldman Sachs Group restated a “sell” rating and set a $56.00 price target on shares of Halozyme Therapeutics in a report on Thursday, December 4th. HC Wainwright restated a “buy” rating on shares of Halozyme Therapeutics in a research report on Thursday, January 29th. Finally, TD Cowen reissued a “buy” rating on shares of Halozyme Therapeutics in a research note on Wednesday, February 18th. Six equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Halozyme Therapeutics presently has a consensus rating of “Hold” and an average price target of $78.56.

Insider Buying and Selling

In other Halozyme Therapeutics news, Director Bernadette Connaughton sold 2,000 shares of the business’s stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $70.25, for a total value of $140,500.00. Following the completion of the sale, the director directly owned 40,123 shares of the company’s stock, valued at $2,818,640.75. The trade was a 4.75% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Cortney Caudill sold 20,000 shares of the company’s stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $67.80, for a total transaction of $1,356,000.00. Following the completion of the transaction, the chief operating officer owned 14,366 shares in the company, valued at $974,014.80. This represents a 58.20% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 90,857 shares of company stock valued at $6,500,287 in the last 90 days. Company insiders own 2.90% of the company’s stock.

Halozyme Therapeutics Company Profile

Halozyme Therapeutics, Inc is a biopharmaceutical company headquartered in San Diego, California, that specializes in the development and commercialization of novel drug-delivery technologies. Founded in 1998, Halozyme focuses on enabling subcutaneous administration of biologic therapies through its proprietary platforms. The company’s core mission is to improve patient access and convenience while maintaining efficacy and safety profiles comparable to or better than traditional routes of administration.

The company’s flagship technology, ENHANZE®, is based on recombinant human hyaluronidase PH20 (rHuPH20), an enzyme that transiently degrades hyaluronan in the extracellular matrix.