South Street Advisors LLC Purchases New Position in Halozyme Therapeutics, Inc. (NASDAQ:HALO)

South Street Advisors LLC purchased a new stake in Halozyme Therapeutics, Inc. (NASDAQ:HALO) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 171,415 shares of the biopharmaceutical company’s stock, valued at approximately $9,812,000. Halozyme Therapeutics makes up about 1.5% of South Street Advisors LLC’s holdings, making the stock its 29th biggest position. South Street Advisors LLC owned approximately 0.14% of Halozyme Therapeutics at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of HALO. Congress Asset Management Co. raised its position in Halozyme Therapeutics by 446.5% in the 3rd quarter. Congress Asset Management Co. now owns 2,433,579 shares of the biopharmaceutical company’s stock valued at $139,298,000 after purchasing an additional 1,988,238 shares during the last quarter. Handelsbanken Fonder AB raised its position in shares of Halozyme Therapeutics by 76.9% during the third quarter. Handelsbanken Fonder AB now owns 1,969,169 shares of the biopharmaceutical company’s stock worth $112,715,000 after acquiring an additional 856,200 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Halozyme Therapeutics by 12.4% during the second quarter. Dimensional Fund Advisors LP now owns 1,897,759 shares of the biopharmaceutical company’s stock worth $99,363,000 after acquiring an additional 209,530 shares during the last quarter. Epoch Investment Partners Inc. raised its position in shares of Halozyme Therapeutics by 23.3% during the first quarter. Epoch Investment Partners Inc. now owns 1,433,612 shares of the biopharmaceutical company’s stock worth $58,319,000 after acquiring an additional 270,579 shares during the last quarter. Finally, American Century Companies Inc. raised its position in shares of Halozyme Therapeutics by 9.7% during the second quarter. American Century Companies Inc. now owns 821,266 shares of the biopharmaceutical company’s stock worth $43,002,000 after acquiring an additional 72,544 shares during the last quarter. Institutional investors and hedge funds own 97.79% of the company’s stock.

Halozyme Therapeutics Trading Down 15.4 %

NASDAQ:HALO traded down $8.31 on Friday, reaching $45.65. The company’s stock had a trading volume of 7,231,432 shares, compared to its average volume of 1,323,263. Halozyme Therapeutics, Inc. has a 1-year low of $33.15 and a 1-year high of $65.53. 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 market cap of $5.81 billion, a PE ratio of 15.12, a PEG ratio of 0.54 and a beta of 1.29. The business’s 50-day moving average price is $56.04 and its two-hundred day moving average price is $53.27.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Cowen restated a “buy” rating on shares of Halozyme Therapeutics in a research report on Friday, October 18th. Piper Sandler upped their price objective on Halozyme Therapeutics from $51.00 to $52.00 and gave the company a “neutral” rating in a report on Monday, November 4th. HC Wainwright upped their price objective on Halozyme Therapeutics from $65.00 to $68.00 and gave the company a “buy” rating in a report on Friday, November 1st. Benchmark reiterated a “buy” rating and issued a $60.00 price objective on shares of Halozyme Therapeutics in a report on Thursday, August 8th. Finally, JMP Securities upped 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. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $61.11.

Insider Transactions at Halozyme Therapeutics

In other news, SVP Michael J. Labarre sold 10,000 shares of the company’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $61.75, for a total transaction of $617,500.00. Following the completion of the transaction, the senior vice president now directly owns 168,176 shares of the company’s stock, valued at $10,384,868. This represents a 5.61 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold 70,000 shares of company stock valued at $4,042,500 over the last three months. Company insiders own 2.40% of the company’s stock.

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.