Cornercap Investment Counsel Inc. Sells 20,204 Shares of Halozyme Therapeutics, Inc. (NASDAQ:HALO)

Cornercap Investment Counsel Inc. decreased its stake in shares of Halozyme Therapeutics, Inc. (NASDAQ:HALO - Free Report) by 71.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,007 shares of the biopharmaceutical company's stock after selling 20,204 shares during the period. Cornercap Investment Counsel Inc.'s holdings in Halozyme Therapeutics were worth $458,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in HALO. CIBC Asset Management Inc acquired a new stake in shares of Halozyme Therapeutics during the third quarter worth approximately $211,000. Chase Investment Counsel Corp increased its stake in shares of Halozyme Therapeutics by 2.5% in the third quarter. Chase Investment Counsel Corp now owns 93,601 shares of the biopharmaceutical company's stock worth $5,357,000 after purchasing an additional 2,264 shares during the period. GSA Capital Partners LLP acquired a new stake in shares of Halozyme Therapeutics in the third quarter worth $217,000. Nations Financial Group Inc. IA ADV grew its position in Halozyme Therapeutics by 6.3% in the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 13,734 shares of the biopharmaceutical company's stock worth $786,000 after purchasing an additional 815 shares during the last quarter. Finally, Assetmark Inc. increased its position in shares of Halozyme Therapeutics by 9.9% during the third quarter. Assetmark Inc. now owns 93,159 shares of the biopharmaceutical company's stock valued at $5,332,000 after purchasing an additional 8,385 shares during the period. Institutional investors and hedge funds own 97.79% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on HALO. Morgan Stanley upped their price objective on shares of Halozyme Therapeutics from $59.00 to $64.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 7th. The Goldman Sachs Group lifted their price objective on Halozyme Therapeutics from $44.00 to $49.00 and gave the stock a "neutral" rating in a research note on Monday, July 22nd. Cowen reissued a "buy" rating on shares of Halozyme Therapeutics in a research report on Friday, October 18th. Wells Fargo & Company cut Halozyme Therapeutics from an "overweight" rating to an "equal weight" rating and increased their target price for the stock from $58.00 to $62.00 in a report on Monday, October 7th. Finally, Piper Sandler upped their price objective on Halozyme Therapeutics from $51.00 to $52.00 and gave the stock a "neutral" rating in a research note on Monday, November 4th. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $61.11.

Halozyme Therapeutics Trading Down 15.4 %

Shares of NASDAQ:HALO traded down $8.31 during mid-day trading on Friday, hitting $45.65. The company had a trading volume of 7,231,432 shares, compared to its average volume of 1,384,980. The company has a debt-to-equity ratio of 3.32, a current ratio of 10.36 and a quick ratio of 9.15. Halozyme Therapeutics, Inc. has a one year low of $33.15 and a one year high of $65.53. The firm has a fifty day moving average price of $56.04 and a 200 day moving average price of $53.48. The company has a market capitalization of $5.81 billion, a PE ratio of 15.12, a price-to-earnings-growth ratio of 0.42 and a beta of 1.29.

Insiders Place Their Bets

In other news, SVP Michael J. Labarre sold 10,000 shares of the company's stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $61.75, for a total value of $617,500.00. Following the completion of the sale, the senior vice president now owns 168,176 shares in the company, valued at $10,384,868. This represents a 5.61 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Over the last quarter, insiders have sold 70,000 shares of company stock worth $4,042,500. Corporate 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.