Cornercap Investment Counsel Inc. Sells 20,204 Shares of Halozyme Therapeutics, Inc. (NASDAQ:HALO)

Cornercap Investment Counsel Inc. reduced its stake in Halozyme Therapeutics, Inc. (NASDAQ:HALO) by 71.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,007 shares of the biopharmaceutical company’s stock after selling 20,204 shares during the period. Cornercap Investment Counsel Inc.’s holdings in Halozyme Therapeutics were worth $458,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the stock. CIBC Asset Management Inc bought a new stake in shares of Halozyme Therapeutics in the 3rd quarter valued at approximately $211,000. Chase Investment Counsel Corp grew its position in Halozyme Therapeutics by 2.5% during the 3rd quarter. Chase Investment Counsel Corp now owns 93,601 shares of the biopharmaceutical company’s stock worth $5,357,000 after acquiring an additional 2,264 shares during the last quarter. GSA Capital Partners LLP bought a new stake in Halozyme Therapeutics during the 3rd quarter worth approximately $217,000. Nations Financial Group Inc. IA ADV grew its position in Halozyme Therapeutics by 6.3% during the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 13,734 shares of the biopharmaceutical company’s stock worth $786,000 after acquiring an additional 815 shares during the last quarter. Finally, Assetmark Inc. grew its position in Halozyme Therapeutics by 9.9% during the 3rd quarter. Assetmark Inc. now owns 93,159 shares of the biopharmaceutical company’s stock worth $5,332,000 after acquiring an additional 8,385 shares during the last quarter. 97.79% of the stock is currently owned by institutional investors.

Halozyme Therapeutics Price Performance

Shares of NASDAQ HALO opened at $45.65 on Friday. The stock has a market capitalization of $5.81 billion, a price-to-earnings ratio of 15.12, a PEG ratio of 0.54 and a beta of 1.29. The business has a 50-day moving average of $56.04 and a 200-day moving average of $53.38. The company has a debt-to-equity ratio of 3.32, a current ratio of 10.36 and a quick ratio of 9.15. Halozyme Therapeutics, Inc. has a fifty-two week low of $33.15 and a fifty-two week high of $65.53.

Analyst Upgrades and Downgrades

HALO has been the topic of a number of research analyst reports. HC Wainwright increased their price target on Halozyme Therapeutics from $65.00 to $68.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. JPMorgan Chase & Co. downgraded Halozyme Therapeutics from an “overweight” rating to a “neutral” rating and upped their price objective for the stock from $52.00 to $57.00 in a report on Thursday, September 19th. TD Cowen upped their price objective on Halozyme Therapeutics from $59.00 to $65.00 and gave the stock a “buy” rating in a report on Wednesday, August 7th. Wells Fargo & Company downgraded Halozyme Therapeutics from an “overweight” rating to an “equal weight” rating and upped their price objective for the stock from $58.00 to $62.00 in a report on Monday, October 7th. Finally, Benchmark reaffirmed a “buy” rating and set a $60.00 price objective on shares of Halozyme Therapeutics in a report on Thursday, August 8th. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $61.11.

Insider Activity

In related news, CEO Helen Torley sold 10,000 shares of Halozyme Therapeutics stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $59.20, for a total transaction of $592,000.00. Following the completion of the transaction, the chief executive officer now owns 676,744 shares in the company, valued at approximately $40,063,244.80. This trade represents a 1.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders sold 70,000 shares of company stock worth $4,042,500 in the last quarter. Corporate insiders own 2.40% of the company’s stock.

Halozyme Therapeutics 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.