Arrowstreet Capital Limited Partnership Grows Position in Halozyme Therapeutics, Inc. (NASDAQ:HALO)

Arrowstreet Capital Limited Partnership grew its position in shares of Halozyme Therapeutics, Inc. (NASDAQ:HALO) by 141.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 992,887 shares of the biopharmaceutical company’s stock after acquiring an additional 581,475 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in Halozyme Therapeutics were worth $47,470,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of Halozyme Therapeutics by 3.0% during the fourth quarter. Vanguard Group Inc. now owns 13,281,714 shares of the biopharmaceutical company’s stock valued at $634,999,000 after purchasing an additional 386,618 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Halozyme Therapeutics by 1.0% during the 3rd quarter. Geode Capital Management LLC now owns 3,060,131 shares of the biopharmaceutical company’s stock worth $175,194,000 after buying an additional 30,901 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Halozyme Therapeutics by 0.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,783,177 shares of the biopharmaceutical company’s stock worth $85,254,000 after buying an additional 9,780 shares during the last quarter. Norges Bank bought a new position in shares of Halozyme Therapeutics in the fourth quarter valued at approximately $60,054,000. Finally, Boston Trust Walden Corp increased its position in shares of Halozyme Therapeutics by 28.0% during the fourth quarter. Boston Trust Walden Corp now owns 874,081 shares of the biopharmaceutical company’s stock valued at $41,790,000 after acquiring an additional 191,465 shares during the last quarter. Institutional investors own 97.79% of the company’s stock.

Insider Buying and Selling

In other news, SVP Michael J. Labarre sold 1,697 shares of the company’s stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $58.28, for a total value of $98,901.16. Following the transaction, the senior vice president now owns 173,756 shares of the company’s stock, valued at approximately $10,126,499.68. This represents a 0.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Jeffrey William Henderson sold 503 shares of Halozyme Therapeutics stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $64.05, for a total value of $32,217.15. Following the sale, the director now directly owns 33,108 shares of the company’s stock, valued at $2,120,567.40. This represents a 1.50 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 32,200 shares of company stock valued at $1,786,668. Corporate insiders own 2.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Wells Fargo & Company cut their price objective on Halozyme Therapeutics from $62.00 to $57.00 and set an “equal weight” rating on the stock in a research report on Monday, January 13th. HC Wainwright reissued a “buy” rating on shares of Halozyme Therapeutics in a report on Thursday, March 6th. Piper Sandler raised their price objective on shares of Halozyme Therapeutics from $52.00 to $53.00 and gave the stock a “neutral” rating in a report on Friday, January 10th. Finally, Benchmark reiterated a “buy” rating and issued a $75.00 target price on shares of Halozyme Therapeutics in a research note on Thursday, February 20th. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $62.78.

Halozyme Therapeutics Stock Performance

NASDAQ HALO opened at $61.87 on Wednesday. The firm has a market cap of $7.64 billion, a P/E ratio of 18.04, a price-to-earnings-growth ratio of 0.42 and a beta of 1.32. The company has a quick ratio of 9.15, a current ratio of 7.80 and a debt-to-equity ratio of 4.14. The company’s 50 day moving average is $59.34 and its 200-day moving average is $54.84. Halozyme Therapeutics, Inc. has a 12-month low of $37.73 and a 12-month high of $66.00.

Halozyme Therapeutics (NASDAQ:HALO) last posted its earnings results on Tuesday, February 18th. The biopharmaceutical company reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.17 by $0.02. Halozyme Therapeutics had a return on equity of 157.78% and a net margin of 43.74%. The firm had revenue of $298.01 million for the quarter, compared to the consensus estimate of $285.74 million. Sell-side analysts predict that Halozyme Therapeutics, Inc. will post 4.73 earnings per share for the current year.

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.