Hedge Funds Are Buying Halozyme Therapeutics, Inc. (HALO)

Consequently, key money managers were leading the bulls’ herd. Pyrrho Capital Management, managed by Vishal Bhutani and Joshua Bederman, assembled the largest position in Halozyme Therapeutics, Inc. (NASDAQ:HALO). Pyrrho Capital Management had $1.2 million invested in the company at the end of the quarter. James E. Flynn’s Deerfield Management also initiated a $0.7 million position during the quarter. The following funds were also among the new HALO investors: Glenn Russell Dubin’s Highbridge Capital Management, Paul Tudor Jones’s Tudor Investment Corp, and Matthew Tewksbury’s Stevens Capital Management.

Let’s also examine hedge fund activity in other stocks – not necessarily in the same industry as Halozyme Therapeutics, Inc. (NASDAQ:HALO) but similarly valued. These stocks are Sanmina Corp (NASDAQ:SANM), USANA Health Sciences, Inc. (NYSE:USNA), Shake Shack Inc (NYSE:SHAK), and HB Fuller Co (NYSE:FUL). This group of stocks’ market caps matches Halozyme Therapeutics, Inc. (NASDAQ:HALO)’s market cap.

As you can see, these stocks had an average of 15 hedge funds with bullish positions and the average amount invested in these stocks was $97 million. That figure was $307 million in Halozyme Therapeutics, Inc. (NASDAQ:HALO)’s case. Sanmina Corp (NASDAQ:SANM) is the most popular stock in this table. On the other hand, HB Fuller Co (NYSE:FUL) is the least popular one with only 11 bullish hedge fund positions. Compared to these stocks, Halozyme Therapeutics, Inc. (NASDAQ:HALO) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.