Tectonic Advisors LLC Lowers Stock Position in Halozyme Therapeutics, Inc. (NASDAQ:HALO)

Tectonic Advisors LLC cut its stake in shares of Halozyme Therapeutics, Inc. (NASDAQ:HALO) by 5.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 24,121 shares of the biopharmaceutical company’s stock after selling 1,292 shares during the quarter. Tectonic Advisors LLC’s holdings in Halozyme Therapeutics were worth $1,153,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Congress Asset Management Co. boosted its stake in shares of Halozyme Therapeutics by 446.5% in the third quarter. Congress Asset Management Co. now owns 2,433,579 shares of the biopharmaceutical company’s stock worth $139,298,000 after acquiring an additional 1,988,238 shares during the period. Janney Montgomery Scott LLC lifted its holdings in Halozyme Therapeutics by 698.8% in the 4th quarter. Janney Montgomery Scott LLC now owns 287,731 shares of the biopharmaceutical company’s stock worth $13,756,000 after purchasing an additional 251,711 shares in the last quarter. Boston Trust Walden Corp boosted its stake in Halozyme Therapeutics by 54.0% in the 3rd quarter. Boston Trust Walden Corp now owns 682,616 shares of the biopharmaceutical company’s stock worth $39,073,000 after purchasing an additional 239,321 shares during the period. South Street Advisors LLC purchased a new stake in Halozyme Therapeutics during the 3rd quarter valued at approximately $9,812,000. Finally, Hantz Financial Services Inc. bought a new stake in shares of Halozyme Therapeutics during the third quarter valued at approximately $9,260,000. 97.79% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Jeffrey William Henderson sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $50.01, for a total transaction of $500,100.00. Following the transaction, 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 transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 2.70% of the company’s stock.

Halozyme Therapeutics Stock Performance

NASDAQ:HALO opened at $57.63 on Thursday. The firm has a market capitalization of $7.33 billion, a PE ratio of 19.08, a PEG ratio of 0.43 and a beta of 1.25. The stock’s fifty day moving average is $51.18 and its 200 day moving average is $54.38. Halozyme Therapeutics, Inc. has a fifty-two week low of $33.64 and a fifty-two week 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.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. JMP Securities upped their target price on shares of Halozyme Therapeutics from $72.00 to $73.00 and gave the stock a “market outperform” rating in a research report on Friday, November 1st. Cowen restated a “buy” rating on shares of Halozyme Therapeutics in a research report on Friday, October 18th. Piper Sandler lifted their target price on Halozyme Therapeutics from $52.00 to $53.00 and gave the stock a “neutral” rating in a report on Friday, January 10th. Wells Fargo & Company dropped their price target on 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. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $70.00 price objective on shares of Halozyme Therapeutics in a research note on Tuesday. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $60.89.

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.