Commerce Bank Lowers Stake in Halozyme Therapeutics, Inc. (NASDAQ:HALO)

Commerce Bank cut its stake in Halozyme Therapeutics, Inc. (NASDAQ:HALO) by 26.8% in the 3rd quarter, Holdings Channel reports. The fund owned 10,701 shares of the biopharmaceutical company’s stock after selling 3,920 shares during the quarter. Commerce Bank’s holdings in Halozyme Therapeutics were worth $613,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. GAMMA Investing LLC boosted its position in Halozyme Therapeutics by 96.6% during the second quarter. GAMMA Investing LLC now owns 517 shares of the biopharmaceutical company’s stock valued at $27,000 after buying an additional 254 shares during the period. International Assets Investment Management LLC purchased a new stake in Halozyme Therapeutics during the 2nd quarter valued at about $33,000. Skandinaviska Enskilda Banken AB publ bought a new position in Halozyme Therapeutics during the 2nd quarter worth approximately $49,000. Toth Financial Advisory Corp purchased a new position in Halozyme Therapeutics in the 3rd quarter worth approximately $57,000. Finally, FSC Wealth Advisors LLC bought a new stake in Halozyme Therapeutics in the third quarter valued at approximately $65,000. Institutional investors own 97.79% of the company’s stock.

Analyst Upgrades and Downgrades

HALO has been the topic of several analyst reports. Wells Fargo & Company downgraded shares of 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 research note on Monday, October 7th. Piper Sandler upped their price objective on shares of Halozyme Therapeutics from $51.00 to $52.00 and gave the company a “neutral” rating in a research note on Monday, November 4th. JMP Securities raised their target price on Halozyme Therapeutics from $72.00 to $73.00 and gave the stock a “market outperform” rating in a research note on Friday, November 1st. Morgan Stanley upped their price target on Halozyme Therapeutics from $59.00 to $64.00 and gave the company an “overweight” rating in a research report on Wednesday, August 7th. Finally, Benchmark reiterated a “buy” rating and issued a $60.00 price objective on shares of Halozyme Therapeutics in a research report on Thursday, August 8th. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $61.11.

Insider Activity at Halozyme Therapeutics

In other news, SVP Michael J. Labarre sold 10,000 shares of the stock in a transaction 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 sale, the senior vice president now directly owns 173,756 shares of the company’s stock, valued at approximately $10,778,084.68. This represents a 5.44 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders sold a total of 60,000 shares of company stock valued at $3,425,000 in the last 90 days. Corporate insiders own 2.70% of the company’s stock.

Halozyme Therapeutics Price Performance

HALO stock opened at $47.79 on Tuesday. The company has a debt-to-equity ratio of 3.32, a quick ratio of 9.15 and a current ratio of 10.36. The firm has a 50 day moving average price of $54.58 and a 200-day moving average price of $53.65. Halozyme Therapeutics, Inc. has a 52-week low of $33.15 and a 52-week high of $65.53. The firm has a market capitalization of $6.08 billion, a price-to-earnings ratio of 16.14, a PEG ratio of 0.45 and a beta of 1.29.

Halozyme Therapeutics 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.