VELA Investment Management LLC Takes $729,000 Position in Halozyme Therapeutics, Inc. (NASDAQ:HALO)

VELA Investment Management LLC acquired a new position in shares of Halozyme Therapeutics, Inc. (NASDAQ:HALO) in the 3rd quarter, HoldingsChannel reports. The firm acquired 12,729 shares of the biopharmaceutical company’s stock, valued at approximately $729,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of HALO. TD Asset Management Inc boosted its stake in Halozyme Therapeutics by 28.1% during the first quarter. TD Asset Management Inc now owns 2,541,266 shares of the biopharmaceutical company’s stock worth $103,379,000 after buying an additional 557,350 shares during the period. Congress Asset Management Co. raised its holdings in Halozyme Therapeutics by 446.5% during the third quarter. Congress Asset Management Co. now owns 2,433,579 shares of the biopharmaceutical company’s stock worth $139,298,000 after purchasing an additional 1,988,238 shares in the last quarter. Handelsbanken Fonder AB raised its holdings in Halozyme Therapeutics by 76.9% during the third quarter. Handelsbanken Fonder AB now owns 1,969,169 shares of the biopharmaceutical company’s stock worth $112,715,000 after purchasing an additional 856,200 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Halozyme Therapeutics by 12.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,897,759 shares of the biopharmaceutical company’s stock valued at $99,363,000 after acquiring an additional 209,530 shares during the period. Finally, Epoch Investment Partners Inc. increased its holdings in shares of Halozyme Therapeutics by 23.3% in the 1st quarter. Epoch Investment Partners Inc. now owns 1,433,612 shares of the biopharmaceutical company’s stock valued at $58,319,000 after acquiring an additional 270,579 shares during the period. 97.79% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Halozyme Therapeutics

In related news, Director Matthew L. Posard sold 10,000 shares of Halozyme Therapeutics stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $55.72, for a total transaction of $557,200.00. Following the completion of the transaction, the director now directly owns 89,755 shares of the company’s stock, valued at $5,001,148.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, Director Matthew L. Posard sold 10,000 shares of Halozyme Therapeutics stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $55.72, for a total transaction of $557,200.00. Following the completion of the sale, the director now owns 89,755 shares in the company, valued at $5,001,148.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Matthew L. Posard sold 9,881 shares of Halozyme Therapeutics stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $57.70, for a total transaction of $570,133.70. Following the sale, the director now owns 69,874 shares of the company’s stock, valued at approximately $4,031,729.80. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 89,881 shares of company stock valued at $5,169,834 in the last ninety days. Insiders own 2.40% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on HALO. Benchmark reiterated a “buy” rating and issued a $60.00 price objective on shares of Halozyme Therapeutics in a research report on Thursday, August 8th. The Goldman Sachs Group boosted their price objective on shares of Halozyme Therapeutics from $44.00 to $49.00 and gave the stock a “neutral” rating in a research report on Monday, July 22nd. TD Cowen boosted their target price on shares of Halozyme Therapeutics from $59.00 to $65.00 and gave the company a “buy” rating in a research note on Wednesday, August 7th. JMP Securities boosted their target price on shares of Halozyme Therapeutics from $72.00 to $73.00 and gave the company a “market outperform” rating in a research note on Friday. Finally, Morgan Stanley upped their price objective on shares of Halozyme Therapeutics from $59.00 to $64.00 and gave the company an “overweight” rating in a research note on Wednesday, August 7th. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, Halozyme Therapeutics has an average rating of “Moderate Buy” and an average target price of $61.00.

Halozyme Therapeutics Stock Up 13.0 %

HALO stock traded up $6.58 during midday trading on Friday, reaching $57.15. The company had a trading volume of 3,404,028 shares, compared to its average volume of 1,285,522. Halozyme Therapeutics, Inc. has a 1 year low of $33.15 and a 1 year high of $65.53. The company has a current ratio of 7.41, a quick ratio of 6.21 and a debt-to-equity ratio of 5.19. The company has a market capitalization of $7.24 billion, a P/E ratio of 22.15, a PEG ratio of 0.49 and a beta of 1.27. The company has a 50 day moving average of $56.99 and a two-hundred day moving average of $51.94.

Halozyme Therapeutics (NASDAQ:HALO) last issued its quarterly earnings results on Tuesday, August 6th. The biopharmaceutical company reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.73 by $0.18. The firm had revenue of $231.40 million during the quarter, compared to the consensus estimate of $204.94 million. Halozyme Therapeutics had a net margin of 38.62% and a return on equity of 195.80%. The business’s revenue was up 4.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.68 EPS. On average, equities research analysts expect that Halozyme Therapeutics, Inc. will post 3.71 earnings per share for the current fiscal year.

Halozyme Therapeutics 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.