Halozyme Therapeutics (NASDAQ:HALO) Shares Gap Down – Here’s What Happened

Halozyme Therapeutics, Inc. (NASDAQ:HALO)’s stock price gapped down prior to trading on Friday . The stock had previously closed at $53.96, but opened at $48.81. Halozyme Therapeutics shares last traded at $46.91, with a volume of 1,487,527 shares changing hands.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. JMP Securities increased 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. Morgan Stanley increased their price objective on Halozyme Therapeutics from $59.00 to $64.00 and gave the company an “overweight” rating in a research note on Wednesday, August 7th. TD Cowen boosted their target price on Halozyme Therapeutics from $59.00 to $65.00 and gave the stock a “buy” rating in a report on Wednesday, August 7th. Piper Sandler upped their price objective on shares of Halozyme Therapeutics from $51.00 to $52.00 and gave the company a “neutral” rating in a report on Monday, November 4th. Finally, Cowen restated a “buy” rating on shares of Halozyme Therapeutics in a research report on Friday, October 18th. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $61.11.

Halozyme Therapeutics Stock Down 13.0 %

The firm has a fifty day moving average price of $56.46 and a 200 day moving average price of $53.22. The firm has a market capitalization of $5.97 billion, a price-to-earnings ratio of 15.55, a PEG ratio of 0.54 and a beta of 1.29. The company has a debt-to-equity ratio of 3.32, a quick ratio of 9.15 and a current ratio of 10.36.

Insider Activity

In other news, SVP Michael J. Labarre sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $61.75, for a total value of $617,500.00. Following the completion of the transaction, the senior vice president now owns 168,176 shares of the company’s stock, valued at $10,384,868. The trade was a 5.61 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders sold a total of 70,000 shares of company stock worth $4,042,500 over the last 90 days. 2.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of HALO. GAMMA Investing LLC increased its holdings in Halozyme Therapeutics by 96.6% in the 2nd quarter. GAMMA Investing LLC now owns 517 shares of the biopharmaceutical company’s stock valued at $27,000 after purchasing an additional 254 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in shares of Halozyme Therapeutics during the 2nd quarter worth approximately $33,000. Skandinaviska Enskilda Banken AB publ bought a new stake in Halozyme Therapeutics in the second quarter valued at $49,000. Toth Financial Advisory Corp acquired a new position in Halozyme Therapeutics during the 3rd quarter valued at about $57,000. Finally, FSC Wealth Advisors LLC acquired a new position in shares of Halozyme Therapeutics during the third quarter worth approximately $65,000. 97.79% of the stock is currently owned by hedge funds and other institutional investors.

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.