Kornitzer Capital Management Inc. KS Sells 228,665 Shares of Halozyme Therapeutics, Inc. (NASDAQ:HALO)

Kornitzer Capital Management Inc. KS reduced its stake in shares of Halozyme Therapeutics, Inc. (NASDAQ:HALO - Free Report) by 51.8% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 213,199 shares of the biopharmaceutical company's stock after selling 228,665 shares during the period. Kornitzer Capital Management Inc. KS owned 0.17% of Halozyme Therapeutics worth $10,193,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of HALO. Venturi Wealth Management LLC bought a new stake in Halozyme Therapeutics in the fourth quarter worth $69,000. State of New Jersey Common Pension Fund D boosted its holdings in Halozyme Therapeutics by 0.6% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 47,663 shares of the biopharmaceutical company's stock worth $2,279,000 after purchasing an additional 302 shares in the last quarter. Sheaff Brock Investment Advisors LLC boosted its holdings in Halozyme Therapeutics by 8.8% in the fourth quarter. Sheaff Brock Investment Advisors LLC now owns 7,747 shares of the biopharmaceutical company's stock worth $370,000 after purchasing an additional 629 shares in the last quarter. Nations Financial Group Inc. IA ADV boosted its holdings in Halozyme Therapeutics by 2.4% in the fourth quarter. Nations Financial Group Inc. IA ADV now owns 14,062 shares of the biopharmaceutical company's stock worth $672,000 after purchasing an additional 328 shares in the last quarter. Finally, Rhumbline Advisers boosted its holdings in Halozyme Therapeutics by 1.4% in the fourth quarter. Rhumbline Advisers now owns 410,508 shares of the biopharmaceutical company's stock worth $19,626,000 after purchasing an additional 5,833 shares in the last quarter. 97.79% of the stock is currently owned by hedge funds and other institutional investors.

Halozyme Therapeutics Stock Performance

Shares of HALO traded up $0.31 during midday trading on Friday, reaching $57.75. The stock had a trading volume of 1,299,523 shares, compared to its average volume of 1,313,186. The firm has a 50 day simple moving average of $53.26 and a 200-day simple moving average of $54.58. Halozyme Therapeutics, Inc. has a one year low of $37.73 and a one year high of $65.53. The firm has a market cap of $7.11 billion, a PE ratio of 16.84, a P/E/G ratio of 0.44 and a beta of 1.25. The company has a current ratio of 7.80, a quick ratio of 9.15 and a debt-to-equity ratio of 4.14.

Halozyme Therapeutics (NASDAQ:HALO - Get Free Report) last announced its earnings results on Tuesday, February 18th. The biopharmaceutical company reported $1.19 EPS for the quarter, topping the consensus estimate of $1.17 by $0.02. Halozyme Therapeutics had a net margin of 43.74% and a return on equity of 157.78%. The business had revenue of $298.01 million during the quarter, compared to the consensus estimate of $285.74 million. As a group, sell-side analysts anticipate that Halozyme Therapeutics, Inc. will post 4.72 EPS for the current year.

Insider Activity

In related news, Director Jeffrey William Henderson sold 10,000 shares of the stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $50.01, for a total value of $500,100.00. Following the completion of the transaction, the director now owns 43,611 shares of the company's stock, valued at $2,180,986.11. This represents a 18.65 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 2.40% of the company's stock.

Analyst Upgrades and Downgrades

HALO has been the subject of a number of research analyst reports. Piper Sandler boosted their target price on shares of Halozyme Therapeutics from $52.00 to $53.00 and gave the stock a "neutral" rating in a research report on Friday, January 10th. JMP Securities boosted their target price on shares of Halozyme Therapeutics from $72.00 to $73.00 and gave the stock a "market outperform" rating in a research report on Friday, November 1st. HC Wainwright boosted their target price on shares of Halozyme Therapeutics from $70.00 to $72.00 and gave the stock a "buy" rating in a research report on Wednesday. Benchmark reaffirmed a "buy" rating and set a $75.00 price objective on shares of Halozyme Therapeutics in a research report on Thursday. Finally, Wells Fargo & Company cut their price objective on shares of Halozyme Therapeutics from $62.00 to $57.00 and set an "equal weight" rating for the company in a research report on Monday, January 13th. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $62.78.

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.