Halozyme Therapeutics (NASDAQ:HALO) Sees Unusually-High Trading Volume – Here’s What Happened

Shares of Halozyme Therapeutics, Inc. (NASDAQ:HALO) saw an uptick in trading volume on Friday . 1,200,966 shares were traded during trading, a decline of 11% from the previous session’s volume of 1,354,167 shares.The stock last traded at $47.93 and had previously closed at $45.70.

Wall Street Analyst Weigh In

HALO has been the topic of several recent analyst reports. TD Cowen increased their target price on shares of Halozyme Therapeutics from $59.00 to $65.00 and gave the stock a “buy” rating in a research note on Wednesday, August 7th. Piper Sandler lifted their price objective on Halozyme Therapeutics from $51.00 to $52.00 and gave the company a “neutral” rating in a research note on Monday, November 4th. Wells Fargo & Company lowered 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 research note on Monday, October 7th. JPMorgan Chase & Co. downgraded Halozyme Therapeutics from an “overweight” rating to a “neutral” rating and lifted their price target for the company from $52.00 to $57.00 in a research report on Thursday, September 19th. Finally, Morgan Stanley upped their price objective on shares of Halozyme Therapeutics from $59.00 to $64.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 7th. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $61.11.

Halozyme Therapeutics Stock Performance

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 market cap of $6.17 billion, a PE ratio of 16.18, a price-to-earnings-growth ratio of 0.41 and a beta of 1.29. The business has a 50 day moving average price of $54.85 and a two-hundred day moving average price of $53.42.

Insider Buying and Selling at Halozyme Therapeutics

In related news, CEO Helen Torley sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $59.09, for a total transaction of $590,900.00. Following the completion of the transaction, 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 legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold 60,000 shares of company stock valued at $3,425,000 in the last quarter. Company insiders own 2.40% of the company’s stock.

Institutional Trading of Halozyme Therapeutics

Several large investors have recently added to or reduced their stakes in HALO. US Bancorp DE lifted its stake in shares of Halozyme Therapeutics by 64.6% in the 1st quarter. US Bancorp DE now owns 13,912 shares of the biopharmaceutical company’s stock valued at $566,000 after purchasing an additional 5,458 shares during the period. State Board of Administration of Florida Retirement System grew its position in shares of Halozyme Therapeutics by 9.2% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 41,550 shares of the biopharmaceutical company’s stock worth $1,587,000 after buying an additional 3,500 shares during the period. O Shaughnessy Asset Management LLC increased its stake in shares of Halozyme Therapeutics by 4.6% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 12,067 shares of the biopharmaceutical company’s stock worth $491,000 after acquiring an additional 536 shares in the last quarter. CANADA LIFE ASSURANCE Co lifted its position in Halozyme Therapeutics by 29.5% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 130,856 shares of the biopharmaceutical company’s stock valued at $5,321,000 after acquiring an additional 29,845 shares during the period. Finally, Shell Asset Management Co. grew its holdings in Halozyme Therapeutics by 30.4% in the first quarter. Shell Asset Management Co. now owns 11,199 shares of the biopharmaceutical company’s stock worth $456,000 after purchasing an additional 2,611 shares during the period. Institutional investors own 97.79% of the company’s stock.

About Halozyme Therapeutics

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.