Convergence Investment Partners LLC Purchases 6,748 Shares of Halozyme Therapeutics, Inc. $HALO

Convergence Investment Partners LLC boosted its position in Halozyme Therapeutics, Inc. (NASDAQ:HALO) by 21.9% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 37,599 shares of the biopharmaceutical company’s stock after purchasing an additional 6,748 shares during the period. Convergence Investment Partners LLC’s holdings in Halozyme Therapeutics were worth $2,430,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of HALO. AlphaCentric Advisors LLC raised its position in shares of Halozyme Therapeutics by 5.8% in the 1st quarter. AlphaCentric Advisors LLC now owns 4,794 shares of the biopharmaceutical company’s stock worth $310,000 after acquiring an additional 261 shares in the last quarter. SEB Asset Management AB bought a new stake in shares of Halozyme Therapeutics during the 1st quarter valued at about $2,243,000. Swiss National Bank boosted its position in shares of Halozyme Therapeutics by 0.9% during the 1st quarter. Swiss National Bank now owns 232,700 shares of the biopharmaceutical company’s stock valued at $15,039,000 after purchasing an additional 2,000 shares in the last quarter. Precision Wealth Strategies LLC grew its stake in Halozyme Therapeutics by 5.8% during the first quarter. Precision Wealth Strategies LLC now owns 7,234 shares of the biopharmaceutical company’s stock worth $468,000 after purchasing an additional 397 shares during the period. Finally, California Public Employees Retirement System grew its stake in Halozyme Therapeutics by 9.9% during the first quarter. California Public Employees Retirement System now owns 260,961 shares of the biopharmaceutical company’s stock worth $16,866,000 after purchasing an additional 23,582 shares during the period. Institutional investors own 97.79% of the company’s stock.

Insider Transactions at Halozyme Therapeutics

In related news, Director Mahesh Krishnan sold 7,304 shares of the firm’s stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $75.00, for a total value of $547,800.00. Following the transaction, the director owned 14,462 shares of the company’s stock, valued at approximately $1,084,650. This trade represents a 33.56% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Bernadette Connaughton sold 1,625 shares of Halozyme Therapeutics stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $76.71, for a total value of $124,653.75. Following the transaction, the director owned 42,044 shares of the company’s stock, valued at $3,225,195.24. This trade represents a 3.72% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 74,102 shares of company stock valued at $5,205,798 over the last three months. Corporate insiders own 2.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on HALO shares. Benchmark reissued a “buy” rating on shares of Halozyme Therapeutics in a research note on Wednesday, June 3rd. Weiss Ratings raised shares of Halozyme Therapeutics from a “hold (c)” rating to a “buy (b-)” rating in a research report on Tuesday, May 12th. UBS Group reiterated a “buy” rating and issued a $90.00 price objective on shares of Halozyme Therapeutics in a research note on Wednesday, June 3rd. Wall Street Zen upgraded shares of Halozyme Therapeutics from a “hold” rating to a “buy” rating in a research report on Saturday, May 16th. Finally, Morgan Stanley dropped their target price on shares of Halozyme Therapeutics from $96.00 to $93.00 and set an “overweight” rating on the stock in a research report on Tuesday, May 12th. Eight research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Halozyme Therapeutics has a consensus rating of “Moderate Buy” and a consensus price target of $81.60.

Halozyme Therapeutics Stock Performance

NASDAQ HALO opened at $77.09 on Tuesday. The company has a fifty day simple moving average of $72.25 and a 200 day simple moving average of $70.27. Halozyme Therapeutics, Inc. has a 12-month low of $55.64 and a 12-month high of $82.26. The company has a current ratio of 2.76, a quick ratio of 2.33 and a debt-to-equity ratio of 8.81. The company has a market cap of $9.14 billion, a P/E ratio of 27.73, a PEG ratio of 0.32 and a beta of 0.84.

Halozyme Therapeutics (NASDAQ:HALO) last released its quarterly earnings data on Monday, May 11th. The biopharmaceutical company reported $1.60 earnings per share for the quarter, topping the consensus estimate of $1.54 by $0.06. Halozyme Therapeutics had a net margin of 23.13% and a return on equity of 187.91%. The firm had revenue of $376.71 million for the quarter, compared to the consensus estimate of $358.60 million. During the same quarter in the prior year, the company posted $1.11 earnings per share. The business’s revenue was up 42.2% on a year-over-year basis. Halozyme Therapeutics has set its FY 2026 guidance at 7.750-8.250 EPS. Sell-side analysts predict that Halozyme Therapeutics, Inc. will post 7.54 earnings per share for the current fiscal year.

Halozyme Therapeutics Profile

Halozyme Therapeutics, Inc is a biopharmaceutical company headquartered in San Diego, California, that specializes in the development and commercialization of novel drug-delivery technologies. Founded in 1998, Halozyme focuses on enabling subcutaneous administration of biologic therapies through its proprietary platforms. The company’s core mission is to improve patient access and convenience while maintaining efficacy and safety profiles comparable to or better than traditional routes of administration.

The company’s flagship technology, ENHANZE®, is based on recombinant human hyaluronidase PH20 (rHuPH20), an enzyme that transiently degrades hyaluronan in the extracellular matrix.