Is Halozyme Therapeutics, Inc. (NASDAQ:HALO) a good investment?
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Furthermore, we’re going to discuss the latest info for Halozyme Therapeutics, Inc. (NASDAQ:HALO).
How are hedge funds trading Halozyme Therapeutics, Inc. (NASDAQ:HALO)?
In preparation for the third quarter, a total of 11 of the hedge funds we track held long positions in this stock, a change of -27% from one quarter earlier. With the smart money’s positions undergoing their usual ebb and flow, there exists a select group of notable hedge fund managers who were increasing their holdings significantly.
Out of the hedge funds we follow, Baker Bros. Advisors, managed by Julian Baker and Felix Baker, holds the largest position in Halozyme Therapeutics, Inc. (NASDAQ:HALO). Baker Bros. Advisors has a $52.1 million position in the stock, comprising 1% of its 13F portfolio. Sitting at the No. 2 spot is QVT Financial, managed by Daniel Gold, which held a $36.6 million position; 2.5% of its 13F portfolio is allocated to the company. Some other hedgies that are bullish include Jerome Pfund and Michael Sjostrom’s Sectoral Asset Management, Ken Griffin’s Citadel Investment Group and Mark Kingdon’s Kingdon Capital.
Judging by the fact that Halozyme Therapeutics, Inc. (NASDAQ:HALO) has faced dropping sentiment from the entirety of the hedge funds we track, it’s easy to see that there exists a select few hedgies who were dropping their positions entirely at the end of the second quarter. Interestingly, Jim Simons’s Renaissance Technologies dropped the largest position of all the hedgies we track, totaling close to $1.8 million in stock, and Thomas Bailard of Bailard Inc was right behind this move, as the fund cut about $0.7 million worth. These transactions are interesting, as aggregate hedge fund interest fell by 4 funds at the end of the second quarter.
How are insiders trading Halozyme Therapeutics, Inc. (NASDAQ:HALO)?
Bullish insider trading is particularly usable when the company in focus has experienced transactions within the past 180 days. Over the last half-year time period, Halozyme Therapeutics, Inc. (NASDAQ:HALO) has seen zero unique insiders buying, and zero insider sales (see the details of insider trades here).
We’ll check out the relationship between both of these indicators in other stocks similar to Halozyme Therapeutics, Inc. (NASDAQ:HALO). These stocks are InterMune Inc (NASDAQ:ITMN), Merrimack Pharmaceuticals Inc (NASDAQ:MACK), TESARO Inc (NASDAQ:TSRO), ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD), and EXACT Sciences Corporation (NASDAQ:EXAS). This group of stocks belong to the biotechnology industry and their market caps are similar to HALO’s market cap.
