Connor Clark & Lunn Investment Management Ltd. Acquires New Shares in Halozyme Therapeutics, Inc. (NASDAQ:HALO)

Connor Clark & Lunn Investment Management Ltd. acquired a new position in Halozyme Therapeutics, Inc. (NASDAQ:HALO) in the fourth quarter, HoldingsChannel reports. The fund acquired 40,948 shares of the biopharmaceutical company’s stock, valued at approximately $1,958,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Heck Capital Advisors LLC purchased a new stake in shares of Halozyme Therapeutics in the 4th quarter worth approximately $29,000. Smartleaf Asset Management LLC raised its stake in Halozyme Therapeutics by 29.2% in the fourth quarter. Smartleaf Asset Management LLC now owns 871 shares of the biopharmaceutical company’s stock worth $42,000 after buying an additional 197 shares in the last quarter. Venturi Wealth Management LLC bought a new stake in Halozyme Therapeutics during the 4th quarter valued at $69,000. Parkside Financial Bank & Trust boosted its position in Halozyme Therapeutics by 21.8% during the 4th quarter. Parkside Financial Bank & Trust now owns 1,800 shares of the biopharmaceutical company’s stock valued at $86,000 after acquiring an additional 322 shares in the last quarter. Finally, Centaurus Financial Inc. bought a new position in shares of Halozyme Therapeutics in the 3rd quarter worth $127,000. 97.79% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Jeffrey William Henderson sold 5,000 shares of the firm’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $58.69, for a total transaction of $293,450.00. Following the completion of the transaction, the director now owns 33,611 shares of the company’s stock, valued at $1,972,629.59. This trade represents a 12.95 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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 transaction of $98,901.16. Following the completion of the sale, the senior vice president now directly owns 173,756 shares in the company, valued at approximately $10,126,499.68. The trade was a 0.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 31,697 shares of company stock valued at $1,754,451 over the last quarter. 2.40% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

HALO has been the topic of a number of recent research reports. Piper Sandler raised their price objective on Halozyme Therapeutics from $52.00 to $53.00 and gave the company a “neutral” rating in a research report on Friday, January 10th. Wells Fargo & Company lowered 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 report on Monday, January 13th. HC Wainwright reissued a “buy” rating on shares of Halozyme Therapeutics in a research report on Thursday, March 6th. Finally, 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. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Halozyme Therapeutics has an average rating of “Moderate Buy” and an average target price of $62.78.

Halozyme Therapeutics Trading Down 0.7 %

NASDAQ HALO opened at $62.54 on Wednesday. Halozyme Therapeutics, Inc. has a 12-month low of $37.73 and a 12-month high of $65.53. The company has a fifty day simple moving average of $57.53 and a two-hundred day simple moving average of $54.61. The company has a current ratio of 7.80, a quick ratio of 9.15 and a debt-to-equity ratio of 4.14. The stock has a market cap of $7.70 billion, a P/E ratio of 18.23, a P/E/G ratio of 0.42 and a beta of 1.32.

Halozyme Therapeutics (NASDAQ:HALO) last issued its earnings results on Tuesday, February 18th. The biopharmaceutical company reported $1.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.17 by $0.02. The company had revenue of $298.01 million during the quarter, compared to analyst estimates of $285.74 million. Halozyme Therapeutics had a return on equity of 157.78% and a net margin of 43.74%. On average, analysts forecast that Halozyme Therapeutics, Inc. will post 4.73 earnings per share for the current 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.