Financial Advocates Investment Management Acquires New Holdings in Halozyme Therapeutics, Inc. (NASDAQ:HALO)

Financial Advocates Investment Management purchased a new position in Halozyme Therapeutics, Inc. (NASDAQ:HALO - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 9,989 shares of the biopharmaceutical company's stock, valued at approximately $478,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Geode Capital Management LLC lifted its position in Halozyme Therapeutics by 1.0% in the 3rd quarter. Geode Capital Management LLC now owns 3,060,131 shares of the biopharmaceutical company's stock valued at $175,194,000 after acquiring an additional 30,901 shares in the last quarter. Congress Asset Management Co. raised its holdings in Halozyme Therapeutics by 446.5% in the 3rd 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 during the period. Boston Trust Walden Corp raised its holdings in Halozyme Therapeutics by 28.0% in the 4th quarter. Boston Trust Walden Corp now owns 874,081 shares of the biopharmaceutical company's stock worth $41,790,000 after purchasing an additional 191,465 shares during the period. Janus Henderson Group PLC raised its holdings in Halozyme Therapeutics by 6.2% in the 3rd quarter. Janus Henderson Group PLC now owns 545,173 shares of the biopharmaceutical company's stock worth $31,204,000 after purchasing an additional 31,871 shares during the period. Finally, Glenmede Trust Co. NA increased its stake in Halozyme Therapeutics by 28.9% in the 3rd quarter. Glenmede Trust Co. NA now owns 487,131 shares of the biopharmaceutical company's stock worth $27,883,000 after buying an additional 109,283 shares in the last quarter. Hedge funds and other institutional investors own 97.79% of the company's stock.

Halozyme Therapeutics Trading Up 1.4 %

NASDAQ HALO traded up $0.78 during trading on Wednesday, hitting $58.11. The stock had a trading volume of 888,165 shares, compared to its average volume of 1,286,692. The company has a debt-to-equity ratio of 3.32, a quick ratio of 9.15 and a current ratio of 10.36. The stock has a market capitalization of $7.39 billion, a price-to-earnings ratio of 19.24, a P/E/G ratio of 0.44 and a beta of 1.25. Halozyme Therapeutics, Inc. has a one year low of $34.36 and a one year high of $65.53. The stock has a 50 day simple moving average of $52.09 and a 200 day simple moving average of $54.45.

Insiders Place Their Bets

In other news, Director Jeffrey William Henderson sold 5,000 shares of Halozyme Therapeutics stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $56.30, for a total transaction of $281,500.00. Following the completion of the sale, the director now owns 38,611 shares of the company's stock, valued at approximately $2,173,799.30. The trade was a 11.46 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 2.40% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on HALO shares. Wells Fargo & Company cut their price target on Halozyme Therapeutics from $62.00 to $57.00 and set an "equal weight" rating for the company in a research note on Monday, January 13th. HC Wainwright restated a "buy" rating and set a $70.00 price objective on shares of Halozyme Therapeutics in a research report on Tuesday, February 4th. Cowen restated a "buy" rating on shares of Halozyme Therapeutics in a research report on Friday, October 18th. JMP Securities raised their price objective on Halozyme Therapeutics from $72.00 to $73.00 and gave the company a "market outperform" rating in a research report on Friday, November 1st. Finally, Piper Sandler raised their price objective on Halozyme Therapeutics from $52.00 to $53.00 and gave the company a "neutral" rating in a research report on Friday, January 10th. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $60.89.

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.