Bryce Point Capital LLC Invests $607,000 in Halozyme Therapeutics, Inc. (NASDAQ:HALO)

Bryce Point Capital LLC bought a new stake in Halozyme Therapeutics, Inc. (NASDAQ:HALO) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 12,703 shares of the biopharmaceutical company’s stock, valued at approximately $607,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Norges Bank acquired a new stake in Halozyme Therapeutics during the fourth quarter valued at approximately $60,054,000. Arrowstreet Capital Limited Partnership lifted its position in shares of Halozyme Therapeutics by 141.3% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 992,887 shares of the biopharmaceutical company’s stock worth $47,470,000 after buying an additional 581,475 shares during the period. Raymond James Financial Inc. acquired a new stake in Halozyme Therapeutics in the 4th quarter valued at $21,838,000. Vanguard Group Inc. grew its position in Halozyme Therapeutics by 3.0% in the fourth quarter. Vanguard Group Inc. now owns 13,281,714 shares of the biopharmaceutical company’s stock valued at $634,999,000 after acquiring an additional 386,618 shares during the period. Finally, Janney Montgomery Scott LLC raised its stake in Halozyme Therapeutics by 698.8% during the fourth quarter. Janney Montgomery Scott LLC now owns 287,731 shares of the biopharmaceutical company’s stock worth $13,756,000 after acquiring an additional 251,711 shares in the last quarter. Institutional investors and hedge funds own 97.79% of the company’s stock.

Wall Street Analyst Weigh In

HALO has been the topic of several recent analyst reports. Benchmark restated a “buy” rating and issued a $75.00 target price on shares of Halozyme Therapeutics in a research note on Thursday, February 20th. Wells Fargo & Company reduced their price target on shares of 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 reaffirmed a “buy” rating on shares of Halozyme Therapeutics in a report on Thursday, March 6th. Finally, Piper Sandler lifted their target price on shares of Halozyme Therapeutics from $52.00 to $53.00 and gave the company a “neutral” rating in a research note on Friday, January 10th. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $62.78.

Insider Buying and Selling at Halozyme Therapeutics

In other news, SVP Michael J. Labarre sold 1,697 shares of the firm’s stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $58.28, for a total value of $98,901.16. Following the transaction, the senior vice president now directly owns 173,756 shares in the company, valued at $10,126,499.68. This trade represents a 0.97 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Jeffrey William Henderson sold 503 shares of the company’s stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $64.05, for a total value of $32,217.15. Following the completion of the sale, the director now 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 three months, insiders have sold 32,200 shares of company stock worth $1,786,668. Company insiders own 2.90% of the company’s stock.

Halozyme Therapeutics Stock Performance

Shares of Halozyme Therapeutics stock opened at $63.02 on Thursday. The firm has a 50 day simple moving average of $59.62 and a 200 day simple moving average of $54.90. Halozyme Therapeutics, Inc. has a fifty-two week low of $37.73 and a fifty-two week high of $66.00. The company has a debt-to-equity ratio of 4.14, a current ratio of 7.80 and a quick ratio of 9.15. The firm has a market cap of $7.79 billion, a P/E ratio of 18.37, a P/E/G ratio of 0.42 and a beta of 1.32.

Halozyme Therapeutics (NASDAQ:HALO) last released its earnings results on Tuesday, February 18th. The biopharmaceutical company reported $1.19 EPS for the quarter, beating 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 company had revenue of $298.01 million during the quarter, compared to analysts’ expectations of $285.74 million. Sell-side analysts predict that Halozyme Therapeutics, Inc. will post 4.73 earnings per share for the current fiscal year.

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.