Unified Investment Management Buys 2,622 Shares of Halozyme Therapeutics, Inc. (NASDAQ:HALO)

Unified Investment Management raised its stake in shares of Halozyme Therapeutics, Inc. (NASDAQ:HALO) by 14.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 21,347 shares of the biopharmaceutical company’s stock after purchasing an additional 2,622 shares during the quarter. Halozyme Therapeutics accounts for about 1.6% of Unified Investment Management’s holdings, making the stock its 15th biggest holding. Unified Investment Management’s holdings in Halozyme Therapeutics were worth $1,362,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the stock. Park Place Capital Corp lifted its stake in shares of Halozyme Therapeutics by 20.1% in the 1st quarter. Park Place Capital Corp now owns 1,086 shares of the biopharmaceutical company’s stock valued at $69,000 after acquiring an additional 182 shares during the last quarter. Smartleaf Asset Management LLC grew its position in Halozyme Therapeutics by 29.2% during the 4th quarter. Smartleaf Asset Management LLC now owns 871 shares of the biopharmaceutical company’s stock worth $42,000 after acquiring an additional 197 shares during the last quarter. Bessemer Group Inc. increased its stake in Halozyme Therapeutics by 62.9% in the 1st quarter. Bessemer Group Inc. now owns 536 shares of the biopharmaceutical company’s stock worth $34,000 after purchasing an additional 207 shares during the period. Parallel Advisors LLC lifted its position in Halozyme Therapeutics by 12.5% in the first quarter. Parallel Advisors LLC now owns 1,875 shares of the biopharmaceutical company’s stock valued at $120,000 after purchasing an additional 208 shares during the last quarter. Finally, Baird Financial Group Inc. lifted its position in Halozyme Therapeutics by 2.0% in the fourth quarter. Baird Financial Group Inc. now owns 11,119 shares of the biopharmaceutical company’s stock valued at $532,000 after purchasing an additional 221 shares during the last quarter. 97.79% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director Jeffrey William Henderson sold 4,497 shares of the company’s stock in a transaction that occurred on Monday, April 28th. The stock was sold at an average price of $60.37, for a total value of $271,483.89. Following the sale, the director owned 28,611 shares in the company, valued at $1,727,246.07. This represents a 13.58% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Helen Torley sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 24th. The shares were sold at an average price of $53.73, for a total value of $1,074,600.00. Following the transaction, the chief executive officer directly owned 733,719 shares of the company’s stock, valued at approximately $39,422,721.87. This trade represents a 2.65% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 44,497 shares of company stock worth $2,405,284 in the last three months. 2.90% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

HALO has been the topic of several recent analyst reports. HC Wainwright restated a “buy” rating and issued a $72.00 target price on shares of Halozyme Therapeutics in a report on Thursday, May 29th. JPMorgan Chase & Co. raised their price target on shares of Halozyme Therapeutics from $55.00 to $58.00 and gave the stock a “neutral” rating in a report on Monday, April 21st. Leerink Partners cut shares of Halozyme Therapeutics from a “market perform” rating to an “underperform” rating and set a $47.00 price objective on the stock. in a research report on Tuesday, May 13th. Wells Fargo & Company increased their target price on shares of Halozyme Therapeutics from $60.00 to $65.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 7th. Finally, Benchmark downgraded Halozyme Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 7th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $61.90.

Halozyme Therapeutics Stock Performance

Halozyme Therapeutics stock opened at $52.02 on Tuesday. Halozyme Therapeutics, Inc. has a fifty-two week low of $42.01 and a fifty-two week high of $70.51. The stock’s 50 day simple moving average is $55.92 and its two-hundred day simple moving average is $56.54. The company has a debt-to-equity ratio of 3.13, a quick ratio of 7.30 and a current ratio of 8.39. The stock has a market cap of $6.41 billion, a price-to-earnings ratio of 13.84, a PEG ratio of 0.35 and a beta of 1.19.

Halozyme Therapeutics (NASDAQ:HALO) last released its quarterly earnings results on Tuesday, May 6th. The biopharmaceutical company reported $1.11 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.13. The company had revenue of $264.86 million for the quarter, compared to analyst estimates of $231.21 million. Halozyme Therapeutics had a return on equity of 136.91% and a net margin of 44.76%. The firm’s revenue was up 35.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.79 earnings per share. As a group, analysts expect that Halozyme Therapeutics, Inc. will post 4.73 earnings per share for the current fiscal year.

About Halozyme Therapeutics

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.