Halozyme Therapeutics sees insider selling and shifting institutional stakes

Halozyme Therapeutics, Inc. (NASDAQ:HALO) has seen significant activity regarding its stock, including insider selling and shifting institutional positions. Director Bernadette Connaughton sold 1,626 shares on August 10th at an average price of $102.80, totaling approximately $167,152.80. This transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Institutional investors have also adjusted their holdings. Handelsbanken Fonder AB increased its stake in the biopharmaceutical company by 28.1% during the second quarter, bringing its total ownership to 631,899 shares. Other major investors, including Arrowstreet Capital Limited Partnership and Dimensional Fund Advisors LP, have also grown their positions.

Market analysts currently maintain a consensus rating of ‘Moderate Buy’ for the company. Among thirteen brokerages covering the stock, nine have issued buy ratings, three have issued hold ratings, and one has issued a sell rating. The average 12-month target price among these analysts is $91.20.