Swedbank AB Sells 14,000 Shares of Halozyme Therapeutics, Inc. (NASDAQ:HALO)

Swedbank AB trimmed its stake in Halozyme Therapeutics, Inc. (NASDAQ:HALO - Free Report) by 4.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 318,362 shares of the biopharmaceutical company's stock after selling 14,000 shares during the quarter. Swedbank AB owned 0.25% of Halozyme Therapeutics worth $18,223,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the stock. Congress Asset Management Co. lifted its holdings in shares of Halozyme Therapeutics by 446.5% during the third quarter. Congress Asset Management Co. now owns 2,433,579 shares of the biopharmaceutical company's stock valued at $139,298,000 after purchasing an additional 1,988,238 shares in the last quarter. Handelsbanken Fonder AB lifted its holdings in shares of Halozyme Therapeutics by 76.9% during the third quarter. Handelsbanken Fonder AB now owns 1,969,169 shares of the biopharmaceutical company's stock valued at $112,715,000 after purchasing an additional 856,200 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Halozyme Therapeutics by 12.4% during the second quarter. Dimensional Fund Advisors LP now owns 1,897,759 shares of the biopharmaceutical company's stock valued at $99,363,000 after purchasing an additional 209,530 shares in the last quarter. American Century Companies Inc. lifted its holdings 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 valued at $43,002,000 after purchasing an additional 72,544 shares in the last quarter. Finally, Federated Hermes Inc. lifted its holdings in shares of Halozyme Therapeutics by 37.8% during the second quarter. Federated Hermes Inc. now owns 696,131 shares of the biopharmaceutical company's stock valued at $36,449,000 after purchasing an additional 191,030 shares in the last quarter. 97.79% of the stock is owned by institutional investors.

Analyst Ratings Changes

HALO has been the topic of a number of research analyst reports. TD Cowen upped their price target on Halozyme Therapeutics from $59.00 to $65.00 and gave the company a "buy" rating in a report on Wednesday, August 7th. Cowen reaffirmed a "buy" rating on shares of Halozyme Therapeutics in a report on Friday, October 18th. JMP Securities upped their price objective on Halozyme Therapeutics from $72.00 to $73.00 and gave the company a "market outperform" rating in a research report on Friday, November 1st. JPMorgan Chase & Co. cut Halozyme Therapeutics from an "overweight" rating to a "neutral" rating and upped their price objective for the company from $52.00 to $57.00 in a research report on Thursday, September 19th. Finally, Benchmark reiterated a "buy" rating and set a $60.00 price objective on shares of Halozyme Therapeutics in a research report on Thursday, August 8th. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, Halozyme Therapeutics currently has an average rating of "Moderate Buy" and an average price target of $61.11.

Halozyme Therapeutics Stock Performance

Shares of HALO opened at $47.79 on Wednesday. The company has a quick ratio of 9.15, a current ratio of 10.36 and a debt-to-equity ratio of 3.32. The business has a 50-day simple moving average of $54.28 and a two-hundred day simple moving average of $53.68. The stock has a market cap of $6.08 billion, a price-to-earnings ratio of 15.82, a PEG ratio of 0.43 and a beta of 1.29. Halozyme Therapeutics, Inc. has a 52 week low of $33.15 and a 52 week high of $65.53.

Insiders Place Their Bets

In other Halozyme Therapeutics news, CEO Helen Torley sold 10,000 shares of the company's stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $59.09, for a total value of $590,900.00. Following the completion of the sale, the chief executive officer now owns 676,744 shares in the company, valued at $39,988,802.96. This represents a 1.46 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders sold a total of 60,000 shares of company stock worth $3,425,000 over the last quarter. 2.70% of the stock is currently owned by corporate insiders.

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.