VELA Investment Management LLC Makes New $729,000 Investment in Halozyme Therapeutics, Inc. (NASDAQ:HALO)

VELA Investment Management LLC bought a new position in shares of Halozyme Therapeutics, Inc. (NASDAQ:HALO - Free Report) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 12,729 shares of the biopharmaceutical company's stock, valued at approximately $729,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Whittier Trust Co. purchased a new position in shares of Halozyme Therapeutics during the first quarter worth about $27,000. GAMMA Investing LLC increased its position in Halozyme Therapeutics by 96.6% during the second quarter. GAMMA Investing LLC now owns 517 shares of the biopharmaceutical company's stock worth $27,000 after buying an additional 254 shares during the period. International Assets Investment Management LLC purchased a new stake in Halozyme Therapeutics in the second quarter valued at approximately $33,000. Skandinaviska Enskilda Banken AB publ acquired a new stake in shares of Halozyme Therapeutics in the second quarter valued at approximately $49,000. Finally, Fidelis Capital Partners LLC purchased a new position in shares of Halozyme Therapeutics during the first quarter worth approximately $52,000. 97.79% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on HALO shares. Morgan Stanley increased their target price 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. TD Cowen boosted their target price on Halozyme Therapeutics from $59.00 to $65.00 and gave the company a "buy" rating in a report on Wednesday, August 7th. Benchmark reaffirmed a "buy" rating and set a $60.00 price target on shares of Halozyme Therapeutics in a report on Thursday, August 8th. Cowen reissued a "buy" rating on shares of Halozyme Therapeutics in a research note on Friday, October 18th. Finally, The Goldman Sachs Group raised their target price on shares of Halozyme Therapeutics from $44.00 to $49.00 and gave the stock a "neutral" rating in a research note on Monday, July 22nd. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat, Halozyme Therapeutics currently has a consensus rating of "Moderate Buy" and an average target price of $61.00.

Halozyme Therapeutics Price Performance

Shares of HALO traded up $6.58 during mid-day trading on Friday, reaching $57.15. 3,404,028 shares of the company's stock were exchanged, compared to its average volume of 1,285,522. The company has a 50-day simple moving average of $56.99 and a two-hundred day simple moving average of $51.94. The company has a market cap of $7.24 billion, a price-to-earnings ratio of 22.15, a PEG ratio of 0.49 and a beta of 1.27. The company has a quick ratio of 6.21, a current ratio of 7.41 and a debt-to-equity ratio of 5.19. Halozyme Therapeutics, Inc. has a 52-week low of $33.15 and a 52-week high of $65.53.

Halozyme Therapeutics (NASDAQ:HALO - Get Free Report) last posted its quarterly earnings data on Tuesday, August 6th. The biopharmaceutical company reported $0.91 EPS for the quarter, topping analysts' consensus estimates of $0.73 by $0.18. The firm had revenue of $231.40 million during the quarter, compared to analysts' expectations of $204.94 million. Halozyme Therapeutics had a return on equity of 195.80% and a net margin of 38.62%. The firm's quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.68 EPS. On average, sell-side analysts predict that Halozyme Therapeutics, Inc. will post 3.71 EPS for the current fiscal year.

Insider Activity

In related news, SVP Michael J. Labarre sold 10,000 shares of the stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $61.75, for a total value of $617,500.00. Following the transaction, the senior vice president now directly owns 168,176 shares of the company's stock, valued at approximately $10,384,868. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, SVP Michael J. Labarre sold 10,000 shares of the 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 of the company's stock, valued at $10,384,868. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Matthew L. Posard sold 9,881 shares of Halozyme Therapeutics stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $57.70, for a total transaction of $570,133.70. Following the transaction, the director now owns 69,874 shares in the company, valued at $4,031,729.80. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 89,881 shares of company stock valued at $5,169,834 in the last 90 days. 2.40% of the stock is currently owned by insiders.

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.