Panoramic Capital LLC Makes New $2.62 Million Investment in Halozyme Therapeutics, Inc. (NASDAQ:HALO)

Panoramic Capital LLC acquired a new stake in shares of Halozyme Therapeutics, Inc. (NASDAQ:HALO) in the fourth quarter, Holdings Channel reports. The fund acquired 54,821 shares of the biopharmaceutical company’s stock, valued at approximately $2,621,000. Halozyme Therapeutics makes up approximately 1.4% of Panoramic Capital LLC’s holdings, making the stock its 20th largest position.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in Halozyme Therapeutics by 3.0% during the fourth quarter. Vanguard Group Inc. now owns 13,281,714 shares of the biopharmaceutical company’s stock valued at $634,999,000 after purchasing an additional 386,618 shares in the last quarter. Snyder Capital Management L P raised its position in shares of Halozyme Therapeutics by 2.6% in the fourth quarter. Snyder Capital Management L P now owns 4,168,453 shares of the biopharmaceutical company’s stock valued at $199,294,000 after purchasing an additional 105,086 shares during the period. Dimensional Fund Advisors LP lifted its position in Halozyme Therapeutics by 2.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,933,560 shares of the biopharmaceutical company’s stock worth $92,446,000 after acquiring an additional 47,795 shares during the last quarter. Northern Trust Corp boosted its stake in Halozyme Therapeutics by 8.7% during the 4th quarter. Northern Trust Corp now owns 1,827,771 shares of the biopharmaceutical company’s stock valued at $87,386,000 after purchasing an additional 145,617 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Halozyme Therapeutics by 0.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,783,177 shares of the biopharmaceutical company’s stock worth $85,254,000 after buying an additional 9,780 shares during the last quarter. Institutional investors and hedge funds own 97.79% of the company’s stock.

Halozyme Therapeutics Trading Down 24.6%

Halozyme Therapeutics stock opened at $50.23 on Wednesday. The business’s fifty day moving average is $61.39 and its 200 day moving average is $55.96. Halozyme Therapeutics, Inc. has a one year low of $42.01 and a one year high of $70.51. The stock has a market capitalization of $6.19 billion, a PE ratio of 14.64, a price-to-earnings-growth ratio of 0.42 and a beta of 1.26. The company has a debt-to-equity ratio of 4.14, a current ratio of 7.80 and a quick ratio of 9.15.

Halozyme Therapeutics (NASDAQ:HALO) last posted its quarterly earnings data on Tuesday, May 6th. The biopharmaceutical company reported $1.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.98 by $0.13. The firm had revenue of $264.86 million for the quarter, compared to analysts’ expectations of $231.21 million. Halozyme Therapeutics had a return on equity of 157.78% and a net margin of 43.74%. The business’s quarterly revenue was up 35.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.79 EPS. On average, sell-side analysts predict that Halozyme Therapeutics, Inc. will post 4.73 EPS for the current year.

Analyst Ratings Changes

A number of research firms have weighed in on HALO. HC Wainwright reiterated a “buy” rating and set a $72.00 price target on shares of Halozyme Therapeutics in a research note on Friday, April 25th. Wells Fargo & Company raised their target price on Halozyme Therapeutics from $60.00 to $65.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 7th. Benchmark cut shares of Halozyme Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 7th. JPMorgan Chase & Co. lifted their price target on shares of Halozyme Therapeutics from $55.00 to $58.00 and gave the company a “neutral” rating in a research note on Monday, April 21st. Finally, Leerink Partners cut shares of Halozyme Therapeutics from a “market perform” rating to an “underperform” rating and set a $47.00 target price on the stock. in a report on Tuesday. One analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $62.10.

Insider Activity at Halozyme Therapeutics

In related news, Director Jeffrey William Henderson sold 5,000 shares of Halozyme Therapeutics stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $58.69, for a total value of $293,450.00. Following the completion of the sale, the director now directly owns 33,611 shares in the company, valued at $1,972,629.59. This trade represents a 12.95% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Michael J. Labarre sold 10,000 shares of Halozyme Therapeutics stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $58.05, for a total value of $580,500.00. Following the sale, the senior vice president now directly owns 185,453 shares of the company’s stock, valued at $10,765,546.65. This trade represents a 5.12% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 21,697 shares of company stock worth $1,276,552. Insiders own 2.40% of the company’s stock.

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.