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

Shares of Halozyme Therapeutics, Inc. (NASDAQ:HALO) fell 4.4% during trading on Monday . The company 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.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. JPMorgan Chase & Co. cut Halozyme Therapeutics from an “overweight” rating to a “neutral” rating and lifted their price objective for the stock from $52.00 to $57.00 in a report on Thursday, September 19th. The Goldman Sachs Group boosted their price target on Halozyme Therapeutics from $44.00 to $49.00 and gave the stock a “neutral” rating in a research report on Monday, July 22nd. JMP Securities raised their price objective on Halozyme Therapeutics from $72.00 to $73.00 and gave the company a “market outperform” rating in a report on Friday, November 1st. Piper Sandler upped their target price on shares of Halozyme Therapeutics from $51.00 to $52.00 and gave the stock a “neutral” rating in a report on Monday, November 4th. Finally, Cowen reissued a “buy” rating on shares of Halozyme Therapeutics in a research note on Friday, October 18th. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $61.11.

Halozyme Therapeutics Stock Performance

The company has a current ratio of 10.36, a quick ratio of 9.15 and a debt-to-equity ratio of 3.32. The stock has a market capitalization of $5.46 billion, a price-to-earnings ratio of 15.12, a price-to-earnings-growth ratio of 0.42 and a beta of 1.29. The firm’s fifty day moving average price is $56.04 and its 200 day moving average price is $53.48.

Insider Transactions at Halozyme Therapeutics

In other Halozyme Therapeutics news, CEO Helen Torley sold 10,000 shares of the stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $59.20, for a total value of $592,000.00. Following the sale, the chief executive officer now owns 676,744 shares of the company’s stock, valued at $40,063,244.80. This trade represents a 1.46 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Over the last quarter, insiders have sold 70,000 shares of company stock valued at $4,042,500. 2.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Halozyme Therapeutics

A number of large investors have recently modified their holdings of the company. GAMMA Investing LLC lifted its position 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 purchasing an additional 254 shares during the last quarter. International Assets Investment Management LLC purchased a new stake in Halozyme Therapeutics during the 2nd quarter worth about $33,000. Skandinaviska Enskilda Banken AB publ acquired a new position in shares of Halozyme Therapeutics during the 2nd quarter worth about $49,000. Toth Financial Advisory Corp purchased a new position in shares of Halozyme Therapeutics in the 3rd quarter valued at about $57,000. Finally, FSC Wealth Advisors LLC acquired a new stake in shares of Halozyme Therapeutics during the 3rd quarter worth about $65,000. 97.79% of the stock is owned by hedge funds and other institutional investors.

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.