Victory Capital Management Inc. Sells 11,553,666 Shares of Halozyme Therapeutics, Inc. (NASDAQ:HALO)

Victory Capital Management Inc. reduced its stake in shares of Halozyme Therapeutics, Inc. (NASDAQ:HALO - Free Report) by 96.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 406,811 shares of the biopharmaceutical company's stock after selling 11,553,666 shares during the quarter. Victory Capital Management Inc. owned 0.32% of Halozyme Therapeutics worth $23,286,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. GAMMA Investing LLC lifted its holdings in shares of Halozyme Therapeutics by 96.6% during the 2nd quarter. GAMMA Investing LLC now owns 517 shares of the biopharmaceutical company's stock worth $27,000 after acquiring an additional 254 shares during the period. International Assets Investment Management LLC acquired a new position in Halozyme Therapeutics in the second quarter worth about $33,000. Skandinaviska Enskilda Banken AB publ bought a new position in Halozyme Therapeutics during the second quarter worth about $49,000. Toth Financial Advisory Corp acquired a new stake in Halozyme Therapeutics during the third quarter valued at approximately $57,000. Finally, FSC Wealth Advisors LLC bought a new stake in shares of Halozyme Therapeutics in the 3rd quarter valued at approximately $65,000. 97.79% of the stock is owned by institutional investors.

Analysts Set New Price Targets

HALO has been the subject of several analyst reports. Morgan Stanley raised their target price on Halozyme Therapeutics from $59.00 to $64.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 7th. The Goldman Sachs Group boosted their target price on shares of Halozyme Therapeutics from $44.00 to $49.00 and gave the company a "neutral" rating in a research note on Monday, July 22nd. Wells Fargo & Company lowered shares of Halozyme Therapeutics from an "overweight" rating to an "equal weight" rating and upped their target price for the stock from $58.00 to $62.00 in a report on Monday, October 7th. TD Cowen lifted their price target on shares of Halozyme Therapeutics from $59.00 to $65.00 and gave the company a "buy" rating in a report on Wednesday, August 7th. Finally, Cowen reaffirmed a "buy" rating on shares of Halozyme Therapeutics in a research note on Friday, October 18th. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $61.11.

Halozyme Therapeutics Trading Up 5.3 %

HALO traded up $2.24 during mid-day trading on Tuesday, reaching $44.81. The stock had a trading volume of 3,766,483 shares, compared to its average volume of 1,352,750. The firm's fifty day simple moving average is $56.04 and its two-hundred day simple moving average is $53.48. The stock has a market capitalization of $5.70 billion, a P/E ratio of 14.10, a P/E/G ratio of 0.42 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. The company has a debt-to-equity ratio of 3.32, a quick ratio of 9.15 and a current ratio of 10.36.

Insider Activity

In other Halozyme Therapeutics news, SVP Michael J. Labarre sold 10,000 shares of the firm's stock in a transaction that occurred 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 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 5.61 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 70,000 shares of company stock valued at $4,042,500 over the last 90 days. 2.70% of the stock is owned by company 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.