Hodges Capital Management Inc. Trims Stock Position in Halozyme Therapeutics, Inc. (NASDAQ:HALO)

Hodges Capital Management Inc. decreased its position in Halozyme Therapeutics, Inc. (NASDAQ:HALO - Free Report) by 5.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 320,544 shares of the biopharmaceutical company's stock after selling 18,312 shares during the period. Halozyme Therapeutics makes up about 1.2% of Hodges Capital Management Inc.'s portfolio, making the stock its 22nd biggest holding. Hodges Capital Management Inc. owned about 0.25% of Halozyme Therapeutics worth $18,348,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Congress Asset Management Co. boosted its holdings in shares of 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 valued at $139,298,000 after acquiring an additional 1,988,238 shares during the last quarter. Handelsbanken Fonder AB grew its position in Halozyme Therapeutics by 76.9% during the 3rd 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 during the period. Boston Trust Walden Corp purchased a new position in shares of Halozyme Therapeutics during the 2nd quarter valued at about $23,211,000. Dimensional Fund Advisors LP lifted 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 buying an additional 209,530 shares during the period. Finally, Federated Hermes Inc. boosted its stake in shares of Halozyme Therapeutics by 37.8% in the second quarter. Federated Hermes Inc. now owns 696,131 shares of the biopharmaceutical company's stock worth $36,449,000 after buying an additional 191,030 shares during the last quarter. Institutional investors and hedge funds own 97.79% of the company's stock.

Halozyme Therapeutics Price Performance

NASDAQ HALO traded up $0.34 during mid-day trading on Friday, hitting $48.40. The stock had a trading volume of 905,788 shares, compared to its average volume of 2,149,973. Halozyme Therapeutics, Inc. has a twelve month low of $33.15 and a twelve month high of $65.53. The company has a debt-to-equity ratio of 3.32, a current ratio of 10.36 and a quick ratio of 9.15. The firm's 50 day moving average is $52.43 and its 200 day moving average is $53.91. The stock has a market capitalization of $6.16 billion, a price-to-earnings ratio of 16.03, a PEG ratio of 0.44 and a beta of 1.23.

Analyst Upgrades and Downgrades

HALO has been the subject of several recent research reports. JPMorgan Chase & Co. cut Halozyme Therapeutics from an "overweight" rating to a "neutral" rating and lifted their price target for the company from $52.00 to $57.00 in a research report on Thursday, September 19th. Piper Sandler boosted their target price on shares of Halozyme Therapeutics from $51.00 to $52.00 and gave the company a "neutral" rating in a research note on Monday, November 4th. HC Wainwright restated a "buy" rating and set a $68.00 price target on shares of Halozyme Therapeutics in a research report on Wednesday, November 20th. Cowen reiterated a "buy" rating on shares of Halozyme Therapeutics in a research report on Friday, October 18th. Finally, Wells Fargo & Company lowered Halozyme Therapeutics from an "overweight" rating to an "equal weight" rating and raised their price objective for the company from $58.00 to $62.00 in a report on Monday, October 7th. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat, Halozyme Therapeutics presently has an average rating of "Moderate Buy" and a consensus price target of $61.11.

Insider Transactions at Halozyme Therapeutics

In related news, SVP Michael J. Labarre sold 10,000 shares of the stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $53.26, for a total value of $532,600.00. Following the completion of the sale, the senior vice president now owns 173,756 shares of the company's stock, valued at approximately $9,254,244.56. This trade represents a 5.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Over the last three months, insiders have sold 60,000 shares of company stock valued at $3,425,000. 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.