Retirement Systems of Alabama Purchases 74,173 Shares of Halozyme Therapeutics, Inc. (NASDAQ:HALO)

Retirement Systems of Alabama lifted its holdings in Halozyme Therapeutics, Inc. (NASDAQ:HALO - Free Report) by 23.5% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 389,268 shares of the biopharmaceutical company's stock after acquiring an additional 74,173 shares during the quarter. Retirement Systems of Alabama owned 0.31% of Halozyme Therapeutics worth $22,282,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in HALO. International Assets Investment Management LLC bought a new position in Halozyme Therapeutics during the 2nd quarter valued at about $33,000. GAMMA Investing LLC increased its holdings in shares of Halozyme Therapeutics by 67.7% in the third quarter. GAMMA Investing LLC now owns 867 shares of the biopharmaceutical company's stock worth $50,000 after purchasing an additional 350 shares during the last quarter. Skandinaviska Enskilda Banken AB publ bought a new position in shares of Halozyme Therapeutics in the 2nd quarter valued at about $49,000. Toth Financial Advisory Corp purchased a new position in shares of Halozyme Therapeutics in the 3rd quarter worth approximately $57,000. Finally, FSC Wealth Advisors LLC bought a new position in Halozyme Therapeutics during the third quarter valued at $65,000. Hedge funds and other institutional investors own 97.79% of the company's stock.

Halozyme Therapeutics Price Performance

HALO stock traded up $0.17 on Friday, reaching $48.00. 932,105 shares of the company's stock were exchanged, compared to its average volume of 1,358,199. The stock has a fifty day moving average of $51.43 and a 200-day moving average of $54.07. The firm has a market cap of $6.11 billion, a PE ratio of 15.89, a P/E/G ratio of 0.43 and a beta of 1.23. The company has a quick ratio of 9.15, a current ratio of 10.36 and a debt-to-equity ratio of 3.32. Halozyme Therapeutics, Inc. has a twelve month low of $33.15 and a twelve month high of $65.53.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. HC Wainwright reiterated a "buy" rating and issued a $68.00 target price on shares of Halozyme Therapeutics in a report on Wednesday, November 20th. JPMorgan Chase & Co. lowered Halozyme Therapeutics from an "overweight" rating to a "neutral" rating and boosted their price target for the stock from $52.00 to $57.00 in a research note on Thursday, September 19th. JMP Securities increased their price objective on shares of Halozyme Therapeutics from $72.00 to $73.00 and gave the company a "market outperform" rating in a research report on Friday, November 1st. Piper Sandler upped their price target 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. Finally, Cowen reaffirmed a "buy" rating on shares of Halozyme Therapeutics in a report on Friday, October 18th. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, Halozyme Therapeutics currently has a consensus rating of "Moderate Buy" and an average price target of $61.11.

Insider Buying and Selling at Halozyme Therapeutics

In other news, SVP Michael J. Labarre sold 10,000 shares of the stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $62.03, for a total value of $620,300.00. Following the completion of the sale, the senior vice president now owns 173,756 shares of the company's stock, valued at $10,778,084.68. This represents a 5.44 % 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. In the last ninety days, insiders have sold 40,000 shares of company stock worth $2,242,100. Corporate insiders own 2.40% of the company's stock.

About Halozyme Therapeutics

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.