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

Halozyme Therapeutics, Inc. (NASDAQ:HALO) was the target of a significant growth in short interest in January. As of January 15th, there was short interest totalling 9,500,000 shares, a growth of 8.1% from the December 31st total of 8,790,000 shares. Based on an average daily trading volume, of 1,670,000 shares, the days-to-cover ratio is currently 5.7 days. Currently, 7.6% of the shares of the stock are short sold.

Insider Activity at Halozyme Therapeutics

In related news, Director Jeffrey William Henderson sold 10,000 shares of the stock in a transaction on 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 transaction, the director now owns 43,611 shares in the company, valued at $2,180,986.11. This trade represents a 18.65 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 2.70% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in HALO. RPg Family Wealth Advisory LLC acquired a new stake in Halozyme Therapeutics in the 3rd quarter valued at approximately $1,886,000. Segall Bryant & Hamill LLC grew its holdings in Halozyme Therapeutics by 16.3% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 355,176 shares of the biopharmaceutical company’s stock valued at $20,330,000 after buying an additional 49,856 shares during the last quarter. Retirement Systems of Alabama grew its holdings in Halozyme Therapeutics by 23.5% in the 3rd quarter. Retirement Systems of Alabama now owns 389,268 shares of the biopharmaceutical company’s stock valued at $22,282,000 after buying an additional 74,173 shares during the last quarter. South Street Advisors LLC acquired a new stake in Halozyme Therapeutics in the 3rd quarter valued at approximately $9,812,000. Finally, Creative Planning grew its holdings in Halozyme Therapeutics by 43.2% in the 2nd quarter. Creative Planning now owns 37,291 shares of the biopharmaceutical company’s stock valued at $1,953,000 after buying an additional 11,249 shares during the last quarter. Institutional investors and hedge funds own 97.79% of the company’s stock.

Halozyme Therapeutics Stock Performance

Shares of NASDAQ HALO opened at $56.28 on Tuesday. 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 $7.16 billion, a price-to-earnings ratio of 18.64, a P/E/G ratio of 0.43 and a beta of 1.25. The business’s 50-day simple moving average is $50.82 and its 200-day simple moving average is $54.33. Halozyme Therapeutics has a 52 week low of $33.15 and a 52 week high of $65.53.

Analysts Set New Price Targets

A number of research firms recently weighed in on HALO. Cowen reiterated a “buy” rating on shares of Halozyme Therapeutics in a research report on Friday, October 18th. Wells Fargo & Company reduced their price objective 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. JMP Securities raised their price target on Halozyme Therapeutics from $72.00 to $73.00 and gave the stock a “market outperform” rating in a research note on Friday, November 1st. HC Wainwright raised their price target on Halozyme Therapeutics from $68.00 to $70.00 and gave the stock a “buy” rating in a research note on Friday, January 10th. Finally, Piper Sandler raised their price target on Halozyme Therapeutics from $52.00 to $53.00 and gave the stock a “neutral” rating in a research note on Friday, January 10th. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $60.89.

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.