Halozyme Therapeutics (NASDAQ:HALO) Stock Price Down 4.4% – Here’s What Happened

Halozyme Therapeutics, Inc. (NASDAQ:HALO)’s share price fell 4.4% during mid-day trading on Monday . The stock traded as low as $43.43 and last traded at $43.65. 465,343 shares changed hands during trading, a decline of 65% from the average session volume of 1,319,417 shares. The stock had previously closed at $45.65.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on HALO. Benchmark reaffirmed a “buy” rating and set a $60.00 price target on shares of Halozyme Therapeutics in a report on Thursday, August 8th. Morgan Stanley lifted their target price on Halozyme Therapeutics from $59.00 to $64.00 and gave the stock an “overweight” rating in a report on Wednesday, August 7th. Cowen reissued a “buy” rating on shares of Halozyme Therapeutics in a report on Friday, October 18th. Wells Fargo & Company downgraded Halozyme Therapeutics from an “overweight” rating to an “equal weight” rating and lifted their target price for the stock from $58.00 to $62.00 in a report on Monday, October 7th. Finally, JPMorgan Chase & Co. downgraded Halozyme Therapeutics from an “overweight” rating to a “neutral” rating and lifted their target price for the stock from $52.00 to $57.00 in a report on Thursday, September 19th. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $61.11.

Halozyme Therapeutics Stock Performance

The stock has a market cap of $5.70 billion, a P/E ratio of 14.84, a PEG ratio of 0.42 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. The stock has a 50-day simple moving average of $55.42 and a 200-day simple moving average of $53.53.

Insider Transactions at Halozyme Therapeutics

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, September 18th. The stock was sold at an average price of $62.03, for a total value of $620,300.00. Following the transaction, the senior vice president now directly owns 173,756 shares of the company’s stock, valued at approximately $10,778,084.68. The trade was a 5.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last three months, insiders have sold 60,000 shares of company stock worth $3,425,000. Insiders own 2.70% of the company’s stock.

Hedge Funds Weigh In On Halozyme Therapeutics

A number of institutional investors have recently modified their holdings of the company. Geode Capital Management LLC raised its position in shares of Halozyme Therapeutics by 1.0% during the third quarter. Geode Capital Management LLC now owns 3,060,131 shares of the biopharmaceutical company’s stock worth $175,194,000 after purchasing an additional 30,901 shares during the period. Congress Asset Management Co. grew its holdings in 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 worth $139,298,000 after buying an additional 1,988,238 shares in the last quarter. Handelsbanken Fonder AB grew its holdings in Halozyme Therapeutics by 76.9% during the third quarter. Handelsbanken Fonder AB now owns 1,969,169 shares of the biopharmaceutical company’s stock worth $112,715,000 after buying an additional 856,200 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in 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 worth $99,363,000 after buying an additional 209,530 shares in the last quarter. Finally, Epoch Investment Partners Inc. grew its holdings in 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 buying an additional 270,579 shares in the last quarter. 97.79% of the stock is owned by institutional investors and hedge funds.

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.