PNC Financial Services Group Inc. Lowers Position in Halozyme Therapeutics, Inc. (NASDAQ:HALO)

PNC Financial Services Group Inc. lessened its position in Halozyme Therapeutics, Inc. (NASDAQ:HALO) by 3.5% in the fourth quarter, HoldingsChannel reports. The firm owned 9,708 shares of the biopharmaceutical company’s stock after selling 353 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Halozyme Therapeutics were worth $464,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Heck Capital Advisors LLC purchased a new position in Halozyme Therapeutics during the fourth quarter valued at $29,000. Smartleaf Asset Management LLC raised its stake in Halozyme Therapeutics by 29.2% during the fourth quarter. Smartleaf Asset Management LLC now owns 871 shares of the biopharmaceutical company’s stock valued at $42,000 after buying an additional 197 shares during the last quarter. Venturi Wealth Management LLC purchased a new position in Halozyme Therapeutics during the fourth quarter valued at $69,000. Parkside Financial Bank & Trust raised its stake in Halozyme Therapeutics by 21.8% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,800 shares of the biopharmaceutical company’s stock valued at $86,000 after buying an additional 322 shares during the last quarter. Finally, Centaurus Financial Inc. purchased a new position in Halozyme Therapeutics during the third quarter valued at $127,000. Hedge funds and other institutional investors own 97.79% of the company’s stock.

Insider Buying and Selling

In other Halozyme Therapeutics news, SVP Michael J. Labarre sold 1,697 shares of the business’s stock in a transaction dated Thursday, February 27th. The stock was 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 owns 173,756 shares of the company’s stock, valued at approximately $10,126,499.68. The trade was a 0.97 % 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. Also, Director Jeffrey William Henderson sold 10,000 shares of the business’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $50.01, for a total value of $500,100.00. Following the sale, the director now directly owns 43,611 shares of the company’s stock, valued at $2,180,986.11. This represents a 18.65 % decrease in their position. 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 90 days. Company insiders own 2.40% of the company’s stock.

Halozyme Therapeutics Stock Performance

Shares of HALO opened at $64.30 on Thursday. The company has a debt-to-equity ratio of 4.14, a current ratio of 7.80 and a quick ratio of 9.15. Halozyme Therapeutics, Inc. has a one year low of $37.73 and a one year high of $65.53. The firm has a market capitalization of $7.92 billion, a P/E ratio of 18.75, a PEG ratio of 0.42 and a beta of 1.32. The business has a fifty day moving average of $57.53 and a 200 day moving average of $54.61.

Halozyme Therapeutics (NASDAQ:HALO) last issued its quarterly earnings data on Tuesday, February 18th. The biopharmaceutical company reported $1.19 EPS for the quarter, topping the consensus estimate of $1.17 by $0.02. Halozyme Therapeutics had a return on equity of 157.78% and a net margin of 43.74%. The company had revenue of $298.01 million during the quarter, compared to analyst estimates of $285.74 million. As a group, sell-side analysts anticipate that Halozyme Therapeutics, Inc. will post 4.73 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have issued reports on HALO. HC Wainwright reiterated a “buy” rating on shares of Halozyme Therapeutics in a research note on Thursday, March 6th. 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 reduced their target price on Halozyme Therapeutics from $62.00 to $57.00 and set an “equal weight” rating for the company in a report on Monday, January 13th. Finally, Benchmark reissued a “buy” rating and issued a $75.00 target price on shares of Halozyme Therapeutics in a report on Thursday, February 20th. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $62.78.

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.