Retirement Systems of Alabama Acquires 74,173 Shares of Halozyme Therapeutics, Inc. (NASDAQ:HALO)

Retirement Systems of Alabama increased its holdings in shares of Halozyme Therapeutics, Inc. (NASDAQ:HALO) by 23.5% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 389,268 shares of the biopharmaceutical company’s stock after acquiring an additional 74,173 shares during the quarter. Retirement Systems of Alabama’s holdings in Halozyme Therapeutics were worth $22,282,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in HALO. International Assets Investment Management LLC bought a new stake in shares of Halozyme Therapeutics in the second quarter worth $33,000. Skandinaviska Enskilda Banken AB publ bought a new stake in shares of Halozyme Therapeutics in the 2nd quarter valued at about $49,000. GAMMA Investing LLC increased its stake in shares of Halozyme Therapeutics by 67.7% in the third quarter. GAMMA Investing LLC now owns 867 shares of the biopharmaceutical company’s stock valued at $50,000 after buying an additional 350 shares during the period. Toth Financial Advisory Corp bought a new position in shares of Halozyme Therapeutics during the third quarter worth about $57,000. Finally, FSC Wealth Advisors LLC acquired a new position in shares of Halozyme Therapeutics in the third quarter worth approximately $65,000. 97.79% of the stock is owned by institutional investors.

Insider Buying and Selling at Halozyme Therapeutics

In other news, SVP Michael J. Labarre sold 10,000 shares of the stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $62.03, for a total value of $620,300.00. Following the completion of the sale, the senior vice president now directly owns 173,756 shares of the company’s stock, valued at $10,778,084.68. This represents a 5.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last three months, insiders have sold 40,000 shares of company stock valued at $2,242,100. Corporate insiders own 2.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on HALO. JMP Securities raised their price target on shares of Halozyme Therapeutics from $72.00 to $73.00 and gave the stock a “market outperform” rating in a report on Friday, November 1st. Cowen restated a “buy” rating on shares of Halozyme Therapeutics in a report on Friday, October 18th. Wells Fargo & Company downgraded Halozyme Therapeutics from an “overweight” rating to an “equal weight” rating and increased their price target for the stock from $58.00 to $62.00 in a report on Monday, October 7th. Piper Sandler boosted their price objective on Halozyme Therapeutics from $51.00 to $52.00 and gave the company a “neutral” rating in a research note on Monday, November 4th. Finally, JPMorgan Chase & Co. lowered Halozyme Therapeutics from an “overweight” rating to a “neutral” rating and boosted their price target for the company from $52.00 to $57.00 in a research note on Thursday, September 19th. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $61.11.

Halozyme Therapeutics Price Performance

Shares of HALO opened at $48.00 on Friday. The stock has a market cap of $6.11 billion, a P/E ratio of 15.89, a P/E/G ratio of 0.43 and a beta of 1.23. The business’s fifty day moving average is $51.43 and its 200 day moving average is $54.00. The company has a quick ratio of 9.15, a current ratio of 10.36 and a debt-to-equity ratio of 3.32. Halozyme Therapeutics, Inc. has a 12-month low of $33.15 and a 12-month high of $65.53.

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.