Halozyme Therapeutics (NASDAQ:HALO) Shares Gap Down – Here’s Why

Halozyme Therapeutics, Inc. (NASDAQ:HALO)’s stock price gapped down before the market opened on Friday . The stock had previously closed at $53.96, but opened at $48.81. Halozyme Therapeutics shares last traded at $46.91, with a volume of 1,487,527 shares traded.

Analyst Ratings Changes

HALO has been the subject of several research reports. Cowen restated a “buy” rating on shares of Halozyme Therapeutics in a research report on Friday, October 18th. HC Wainwright boosted their price objective on shares of Halozyme Therapeutics from $65.00 to $68.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. TD Cowen upped their price objective on Halozyme Therapeutics from $59.00 to $65.00 and gave the stock a “buy” rating in a report on Wednesday, August 7th. Morgan Stanley boosted their target price on Halozyme Therapeutics from $59.00 to $64.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 7th. Finally, Benchmark reiterated a “buy” rating and issued a $60.00 price target on shares of Halozyme Therapeutics in a report on Thursday, August 8th. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $61.11.

Halozyme Therapeutics Trading Down 15.4 %

The business has a 50 day moving average of $56.04 and a 200 day moving average of $53.38. The firm has a market capitalization of $5.81 billion, a price-to-earnings ratio of 15.12, a PEG ratio of 0.54 and a beta of 1.29. The company has a debt-to-equity ratio of 3.32, a current ratio of 10.36 and a quick ratio of 9.15.

Insider Transactions at Halozyme Therapeutics

In other Halozyme Therapeutics news, SVP Michael J. Labarre sold 10,000 shares of the stock in a transaction on Wednesday, September 18th. The shares were 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 in the company, valued at approximately $10,778,084.68. This trade represents a 5.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In the last ninety days, insiders sold 70,000 shares of company stock worth $4,042,500. 2.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Halozyme Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the company. Geode Capital Management LLC lifted its holdings in Halozyme Therapeutics by 1.0% during the third quarter. Geode Capital Management LLC now owns 3,060,131 shares of the biopharmaceutical company’s stock worth $175,194,000 after acquiring an additional 30,901 shares in the last quarter. Congress Asset Management Co. raised its position in shares of Halozyme Therapeutics by 446.5% during the third quarter. Congress Asset Management Co. now owns 2,433,579 shares of the biopharmaceutical company’s stock worth $139,298,000 after purchasing an additional 1,988,238 shares during the period. Handelsbanken Fonder AB lifted its holdings in shares of Halozyme Therapeutics by 76.9% during the 3rd quarter. Handelsbanken Fonder AB now owns 1,969,169 shares of the biopharmaceutical company’s stock valued at $112,715,000 after purchasing an additional 856,200 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Halozyme Therapeutics by 12.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,897,759 shares of the biopharmaceutical company’s stock valued at $99,363,000 after purchasing an additional 209,530 shares during the period. Finally, Epoch Investment Partners Inc. increased its stake in Halozyme Therapeutics by 23.3% during the 1st quarter. Epoch Investment Partners Inc. now owns 1,433,612 shares of the biopharmaceutical company’s stock worth $58,319,000 after purchasing an additional 270,579 shares in the last quarter. Institutional investors and hedge funds own 97.79% of the company’s stock.

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.