South Street Advisors LLC Takes Position in Halozyme Therapeutics, Inc. (NASDAQ:HALO)

South Street Advisors LLC bought a new stake in Halozyme Therapeutics, Inc. (NASDAQ:HALO - Free Report) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 171,415 shares of the biopharmaceutical company's stock, valued at approximately $9,812,000. Halozyme Therapeutics accounts for about 1.5% of South Street Advisors LLC's holdings, making the stock its 29th largest position. South Street Advisors LLC owned 0.14% of Halozyme Therapeutics at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Congress Asset Management Co. increased its stake 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 buying an additional 1,988,238 shares during the period. Handelsbanken Fonder AB increased its stake in shares of Halozyme Therapeutics by 76.9% in the 3rd quarter. Handelsbanken Fonder AB now owns 1,969,169 shares of the biopharmaceutical company's stock valued at $112,715,000 after buying an additional 856,200 shares during the period. Dimensional Fund Advisors LP increased its stake 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. Epoch Investment Partners Inc. grew its stake in shares of Halozyme Therapeutics by 23.3% during the first quarter. Epoch Investment Partners Inc. now owns 1,433,612 shares of the biopharmaceutical company's stock worth $58,319,000 after purchasing an additional 270,579 shares during the period. Finally, American Century Companies Inc. grew its stake in shares of Halozyme Therapeutics by 9.7% during the second quarter. American Century Companies Inc. now owns 821,266 shares of the biopharmaceutical company's stock worth $43,002,000 after purchasing an additional 72,544 shares during the period. 97.79% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Halozyme Therapeutics news, SVP Michael J. Labarre sold 10,000 shares of the business's stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $61.75, for a total transaction of $617,500.00. Following the transaction, the senior vice president now owns 168,176 shares of the company's stock, valued at $10,384,868. The trade was a 5.61 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold a total of 70,000 shares of company stock valued at $4,042,500 over the last 90 days. 2.40% of the stock is currently owned by insiders.

Halozyme Therapeutics Stock Performance

NASDAQ HALO traded down $8.31 during trading on Friday, reaching $45.65. 7,231,432 shares of the company's stock were exchanged, compared to its average volume of 1,323,263. The business has a 50 day moving average price of $56.04 and a 200-day moving average price of $53.27. The stock has a market capitalization of $5.81 billion, a P/E ratio of 15.12, a PEG ratio of 0.54 and a beta of 1.29. The company has a debt-to-equity ratio of 3.32, a current ratio of 10.36 and a quick ratio of 9.15. Halozyme Therapeutics, Inc. has a fifty-two week low of $33.15 and a fifty-two week high of $65.53.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. TD Cowen lifted their price objective on Halozyme Therapeutics from $59.00 to $65.00 and gave the stock a "buy" rating in a research note on Wednesday, August 7th. The Goldman Sachs Group lifted their price objective on Halozyme Therapeutics from $44.00 to $49.00 and gave the stock a "neutral" rating in a research note on Monday, July 22nd. JMP Securities lifted their price objective on Halozyme Therapeutics from $72.00 to $73.00 and gave the stock a "market outperform" rating in a research note on Friday, November 1st. JPMorgan Chase & Co. cut Halozyme Therapeutics from an "overweight" rating to a "neutral" rating and lifted their price objective for the stock from $52.00 to $57.00 in a research note on Thursday, September 19th. Finally, Morgan Stanley lifted their price objective on Halozyme Therapeutics from $59.00 to $64.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 7th. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $61.11.

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.