Granite Investment Partners LLC Boosts Holdings in Halozyme Therapeutics, Inc. $HALO

Granite Investment Partners LLC increased its position in Halozyme Therapeutics, Inc. (NASDAQ:HALO) by 76.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 51,719 shares of the biopharmaceutical company’s stock after purchasing an additional 22,419 shares during the period. Granite Investment Partners LLC’s holdings in Halozyme Therapeutics were worth $3,343,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Clark Capital Management Group Inc. lifted its stake in shares of Halozyme Therapeutics by 14.4% in the third quarter. Clark Capital Management Group Inc. now owns 202,965 shares of the biopharmaceutical company’s stock worth $14,885,000 after buying an additional 25,582 shares in the last quarter. Allworth Financial LP increased its position in shares of Halozyme Therapeutics by 322.5% during the third quarter. Allworth Financial LP now owns 39,736 shares of the biopharmaceutical company’s stock valued at $2,914,000 after acquiring an additional 30,331 shares in the last quarter. Element Squared LLC bought a new stake in shares of Halozyme Therapeutics during the fourth quarter valued at approximately $1,193,000. CWA Asset Management Group LLC purchased a new position in Halozyme Therapeutics in the 4th quarter worth approximately $907,000. Finally, Assenagon Asset Management S.A. purchased a new position in Halozyme Therapeutics in the 4th quarter worth approximately $4,851,000. 97.79% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Bernadette Connaughton sold 1,625 shares of the company’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $76.71, for a total transaction of $124,653.75. Following the completion of the sale, the director owned 42,044 shares of the company’s stock, valued at $3,225,195.24. This represents a 3.72% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Mahesh Krishnan sold 7,304 shares of the stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $75.00, for a total transaction of $547,800.00. Following the completion of the transaction, the director owned 14,462 shares in the company, valued at $1,084,650. This trade represents a 33.56% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 74,102 shares of company stock valued at $5,205,798. Insiders own 2.50% of the company’s stock.

Analyst Upgrades and Downgrades

HALO has been the topic of several recent analyst reports. UBS Group reiterated a “buy” rating and set a $90.00 target price on shares of Halozyme Therapeutics in a research note on Wednesday, June 3rd. Morgan Stanley lowered their price target on Halozyme Therapeutics from $96.00 to $93.00 and set an “overweight” rating on the stock in a report on Tuesday, May 12th. Weiss Ratings raised Halozyme Therapeutics from a “hold (c)” rating to a “buy (b-)” rating in a research report on Tuesday, May 12th. Benchmark reiterated a “buy” rating on shares of Halozyme Therapeutics in a report on Wednesday, June 3rd. Finally, Wall Street Zen raised Halozyme Therapeutics from a “hold” rating to a “buy” rating in a research report on Saturday, May 16th. Eight research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Halozyme Therapeutics currently has an average rating of “Moderate Buy” and an average target price of $81.60.

Halozyme Therapeutics Price Performance

NASDAQ HALO opened at $78.62 on Friday. The stock has a market capitalization of $9.33 billion, a price-to-earnings ratio of 28.28, a PEG ratio of 0.33 and a beta of 0.84. Halozyme Therapeutics, Inc. has a 1-year low of $55.64 and a 1-year high of $82.26. The company has a debt-to-equity ratio of 8.81, a current ratio of 2.76 and a quick ratio of 2.33. The business’s fifty day moving average price is $70.63 and its 200-day moving average price is $69.87.

Halozyme Therapeutics (NASDAQ:HALO) last issued its quarterly earnings data on Monday, May 11th. The biopharmaceutical company reported $1.60 EPS for the quarter, topping the consensus estimate of $1.54 by $0.06. The company had revenue of $376.71 million during the quarter, compared to analyst estimates of $358.60 million. Halozyme Therapeutics had a return on equity of 187.91% and a net margin of 23.13%.Halozyme Therapeutics’s revenue was up 42.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.11 earnings per share. Halozyme Therapeutics has set its FY 2026 guidance at 7.750-8.250 EPS. On average, equities analysts predict that Halozyme Therapeutics, Inc. will post 7.54 earnings per share for the current year.

About Halozyme Therapeutics

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.