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Stock Investors Sell Off Shares of Halozyme Therapeutics, Down 12.4%

Published on Thu, 01/31/2013 - 11:13
By Peter Chu

Halozyme Therapeutics (NASDAQ:HALO) is one of today's biggest movers, down 12.4% to $6.21. The S&P is trading fractionally lower to 1,501 and the Dow is trading fractionally higher to 13,918.

Halozyme Therapeutics has overhead space with shares priced $6.21, or 37.4% below the average consensus analyst price target of $9.92. The stock should find initial resistance at its 50-day moving average (MA) of $6.61 and further resistance at its 200-day MA of $7.09.

Over the past year, Halozyme Therapeutics has traded in a range of $3.86 to $13.50 and is now at $6.21, 61% above that low. The 200-day and 50-day moving averages have moved 0.67% lower and 2.40% higher over the past week, respectively.

Halozyme Therapeutics, Inc. develops and commercializes recombinant human enzymes for the infertility, ophthalmology, and oncology communities. The Company's product portfolio is based on intellectual property covering the family of human enzymes known as hyaluronidases. Halozyme's products offer an alternative to slaughterhouse-derived extracts that carry contamination risks.

By Peter Chu