Halozyme Therapeutics, Inc. (NASDAQ:HALO) Sees Large Growth in Short Interest

Halozyme Therapeutics, Inc. (NASDAQ:HALO) was the recipient of a large growth in short interest during the month of December. As of December 31st, there was short interest totalling 9,500,000 shares, a growth of 8.1% from the December 15th total of 8,790,000 shares. Currently, 7.6% of the company’s shares are short sold. Based on an average trading volume of 1,670,000 shares, the days-to-cover ratio is presently 5.7 days.

Analysts Set New Price Targets

HALO has been the subject of several analyst reports. HC Wainwright raised their price target on shares of Halozyme Therapeutics from $68.00 to $70.00 and gave the stock a “buy” rating in a report on Friday, January 10th. Wells Fargo & Company lowered their target price on shares of Halozyme Therapeutics from $62.00 to $57.00 and set an “equal weight” rating for the company in a research note on Monday, January 13th. Cowen reaffirmed a “buy” rating on shares of Halozyme Therapeutics in a research report on Friday, October 18th. JMP Securities lifted their price objective on Halozyme Therapeutics from $72.00 to $73.00 and gave the stock a “market outperform” rating in a research report on Friday, November 1st. Finally, Piper Sandler boosted their price objective on Halozyme Therapeutics from $52.00 to $53.00 and gave the company a “neutral” rating in a research note on Friday, January 10th. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $60.89.

Halozyme Therapeutics Stock Down 1.0 %

Shares of NASDAQ:HALO traded down $0.57 during trading on Friday, reaching $54.80. 942,028 shares of the stock were exchanged, compared to its average volume of 1,331,984. The stock has a fifty day moving average of $49.62 and a two-hundred day moving average of $54.11. Halozyme Therapeutics 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 current ratio of 10.36 and a quick ratio of 9.15. The firm has a market cap of $6.97 billion, a price-to-earnings ratio of 18.15, a price-to-earnings-growth ratio of 0.40 and a beta of 1.24.

Insiders Place Their Bets

In other news, Director Jeffrey William Henderson sold 10,000 shares of the stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $50.01, for a total value of $500,100.00. Following the completion of the sale, the director now owns 43,611 shares of the company’s stock, valued at approximately $2,180,986.11. This represents a 18.65 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 2.70% of the company’s stock.

Institutional Investors Weigh In On Halozyme Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the business. Envestnet Asset Management Inc. increased its holdings in Halozyme Therapeutics by 4.9% during the 2nd quarter. Envestnet Asset Management Inc. now owns 229,620 shares of the biopharmaceutical company’s stock worth $12,023,000 after purchasing an additional 10,651 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in 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 buying an additional 209,530 shares in the last quarter. Mercer Global Advisors Inc. ADV purchased a new stake in Halozyme Therapeutics in the 2nd quarter valued at $182,000. Vanguard Personalized Indexing Management LLC lifted its stake in Halozyme Therapeutics by 13.5% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 20,711 shares of the biopharmaceutical company’s stock valued at $1,084,000 after acquiring an additional 2,463 shares in the last quarter. Finally, Intech Investment Management LLC purchased a new position in Halozyme Therapeutics during the 2nd quarter worth $1,192,000. Institutional investors and hedge funds own 97.79% of the company’s stock.

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.