Halozyme Therapeutics, Inc. (HALO) Stake Lowered by BlueMountain Capital Management LLC

BlueMountain Capital Management LLC trimmed its position in shares of Halozyme Therapeutics, Inc. (NASDAQ:HALO) by 6.4% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 50,647 shares of the biopharmaceutical company’s stock after selling 3,480 shares during the period. BlueMountain Capital Management LLC’s holdings in Halozyme Therapeutics were worth $854,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. Granite Investment Partners LLC raised its position in shares of Halozyme Therapeutics by 0.4% during the 2nd quarter. Granite Investment Partners LLC now owns 734,528 shares of the biopharmaceutical company’s stock valued at $12,391,000 after purchasing an additional 2,892 shares during the period. Amalgamated Bank raised its position in shares of Halozyme Therapeutics by 19.3% during the 2nd quarter. Amalgamated Bank now owns 19,053 shares of the biopharmaceutical company’s stock valued at $321,000 after purchasing an additional 3,077 shares during the period. Xact Kapitalforvaltning AB raised its position in shares of Halozyme Therapeutics by 18.5% during the 2nd quarter. Xact Kapitalforvaltning AB now owns 21,769 shares of the biopharmaceutical company’s stock valued at $367,000 after purchasing an additional 3,400 shares during the period. CIBC Private Wealth Group LLC raised its position in shares of Halozyme Therapeutics by 15.9% during the 2nd quarter. CIBC Private Wealth Group LLC now owns 25,766 shares of the biopharmaceutical company’s stock valued at $435,000 after purchasing an additional 3,541 shares during the period. Finally, Commonwealth Equity Services LLC raised its position in shares of Halozyme Therapeutics by 3.4% during the 1st quarter. Commonwealth Equity Services LLC now owns 106,729 shares of the biopharmaceutical company’s stock valued at $2,090,000 after purchasing an additional 3,553 shares during the period. Hedge funds and other institutional investors own 83.88% of the company’s stock.

Several analysts have recently commented on the stock. Cantor Fitzgerald assumed coverage on shares of Halozyme Therapeutics in a research report on Wednesday, August 22nd. They set an “overweight” rating and a $27.00 price objective on the stock. BMO Capital Markets raised their price objective on shares of Halozyme Therapeutics from $19.00 to $21.00 and gave the company a “market perform” rating in a research report on Wednesday, August 8th. Zacks Investment Research upgraded shares of Halozyme Therapeutics from a “hold” rating to a “buy” rating and set a $19.00 price objective on the stock in a research report on Wednesday, July 11th. BidaskClub downgraded shares of Halozyme Therapeutics from a “buy” rating to a “hold” rating in a research report on Tuesday, June 26th. Finally, ValuEngine downgraded shares of Halozyme Therapeutics from a “buy” rating to a “hold” rating in a research report on Friday, June 22nd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the stock. Halozyme Therapeutics has a consensus rating of “Hold” and an average price target of $22.11.

In related news, major shareholder Randal J. Kirk sold 644,998 shares of the firm’s stock in a transaction on Tuesday, August 28th. The shares were sold at an average price of $18.08, for a total transaction of $11,661,563.84. Following the completion of the transaction, the insider now directly owns 3,562,388 shares of the company’s stock, valued at $64,407,975.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Randal J. Kirk sold 53,505 shares of the firm’s stock in a transaction on Wednesday, June 27th. The shares were sold at an average price of $17.34, for a total transaction of $927,776.70. Following the transaction, the insider now directly owns 3,562,388 shares of the company’s stock, valued at $61,771,807.92. The disclosure for this sale can be found here. Insiders have sold 4,278,021 shares of company stock valued at $74,892,770 over the last ninety days. 16.80% of the stock is currently owned by corporate insiders.

HALO opened at $17.14 on Friday. The firm has a market cap of $2.49 billion, a P/E ratio of 38.09 and a beta of 1.93. Halozyme Therapeutics, Inc. has a fifty-two week low of $15.66 and a fifty-two week high of $21.48. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.49 and a quick ratio of 3.43.

Halozyme Therapeutics (NASDAQ:HALO) last posted its earnings results on Tuesday, August 7th. The biopharmaceutical company reported ($0.16) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.22) by $0.06. The company had revenue of $35.20 million during the quarter, compared to analysts’ expectations of $31.49 million. Halozyme Therapeutics had a net margin of 23.88% and a return on equity of 38.10%. research analysts predict that Halozyme Therapeutics, Inc. will post -0.8 EPS for the current year.

Halozyme Therapeutics Company Profile

Halozyme Therapeutics, Inc, a biotechnology company, researches, develops, and commercializes human enzymes and other drug candidates in the United States, Switzerland, and internationally. The company's human enzymes are used to facilitate the delivery of injected drugs and fluids, enhancing the efficacy and the convenience of other drugs or can be used to alter tissue structures for clinical benefit.

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Institutional Ownership by Quarter for Halozyme Therapeutics (NASDAQ:HALO)

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