Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Halozyme Therapeutics Inc. shares valued at $422,730 were sold by LaBarre Michael J. on Mar 13 ’24. At $42.27 per share, LaBarre Michael J. sold 10,000 shares. The insider’s holdings dropped to 156,558 shares worth approximately $6.15 million following the completion of this transaction.
Also, LaBarre Michael J. sold 10,000 shares, netting a total of over 416,370 in proceeds. Following the sale of shares at $41.64 each, the insider now holds 156,558 shares.
Before that, LaBarre Michael J. had sold 10,000 shares from its account. In a trade valued at $395,463, the SVP, CHIEF TECHNICAL OFFICER traded Halozyme Therapeutics Inc. shares for $39.55 each. Upon closing the transaction, the insider’s holdings decreased to 10,000 shares, worth approximately $6.15 million.
As published in their initiating research note from TD Cowen on February 29, 2024, Halozyme Therapeutics Inc. [HALO] has been an Outperform and the price target has been revised to $54. Analysts at H.C. Wainwright started covering the stock with ‘”a Buy”‘ outlook in a report released in late July. As of July 24, 2023, Goldman has decreased its “Buy” rating to a “Neutral” for HALO. Earlier on May 10, 2023, Piper Sandler upgraded its rating. Their new recommendation was “an Overweight” for HALO stock which previously was a “a Neutral”.
Analyzing HALO Stock Performance
During the last five days, there has been a drop of approximately -2.36%. Over the course of the year, Halozyme Therapeutics Inc. shares have jumped approximately 6.28%. Shares of the company reached a 52-week high of $42.64 on 03/13/24 and a 52-week low of $33.15 on 02/05/24. A 50-day SMA is recorded $38.84, while a 200-day SMA reached $38.68. Nevertheless, trading volume fell to 1.88 million shares from 1.16 million shares the previous day.
Support And Resistance Levels for Halozyme Therapeutics Inc. (HALO)
According to the 24-hour chart, there is a support level at 38.84, which, if violated, would cause prices to drop to 38.40. In the upper region, resistance lies at 39.78. The next price resistance is at 40.28. RSI (Relative Strength Index) is 44.72 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.53, which suggests the price will decrease in the coming days. Percent R is at 88.82%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
Is Halozyme Therapeutics Inc. subject to short interest?
Stocks of Halozyme Therapeutics Inc. saw a sharp rise in short interest on Mar 15, 2024 jumping by 0.55 million shares to 8.2 million. Data from Yahoo Finance shows that the short interest on Feb 15, 2024 was 7.65 million shares. A jump of 6.71% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 6.65 of the overall float, the days-to-cover ratio (short ratio) jumped to 6.65.
