This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

5 Stocks With Big Insider Buying

Stocks in this article: CTCMNRGYGMCRHALOSQNM

Halozyme Therapeutics

Content on this page requires a newer version of Adobe Flash Player.

Get Adobe Flash player

A stock in the biotechnology and drugs complex whose insiders have bought up a lot of shares is Halozyme Therapeutics (HALO), which is engaged in the development and commercialization of recombinant human enzymes that either transiently modify tissue under the skin to facilitate injection of other therapies or correct diseased tissue structures for clinical benefit. This stock hasn't done much in 2011, with shares up just 3%.

Halozyme Therapeutics has a market cap of $842.38 million and an enterprise value of $776.05 million. Its estimated growth rate for this year is 71.4%, and for next year it's pegged at -187.5%. This is a cash-rich company, since its total cash position is $66.33 million and its total debt is zero.

A beneficial owner and director just bought 638,224 shares, or about $5.2 million worth of stock, at $8.13 to $8.19 per share. This same director also bought around $5.9 million worth of stock in early August between $5.88 and $6.13 per share.

>>13 Biotech Stocks Bought and Sold by Hedge Funds

From a technical standpoint, this stock is currently trading above both its 50-day and 200-day moving averages, which I bullish. This stock recently gapped up on monster volume from around $6 to over $7.50 a share. After that gap up, the stock has started to trade inside of a sideways trading pattern between $9 and $7.83 a share.

If you're bullish on this stock, I would look to buy some shares near the bottom of that range at let's say around $8 a share. I would use a tight mental stop just below the 50-day moving average of $7.29. I would then look to add aggressively to any long position if this stock breaks out above $9.04 and $9.11 a share on high volume. Look for volume that's tracking in close to or above its three-month average action of 659,586 shares.

5 of 6

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,461.32 -153.49 -0.92%
S&P 500 1,927.11 -14.17 -0.73%
NASDAQ 4,382.8470 -36.6310 -0.83%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs