Rhumbline Advisers Boosts Stock Position in HUTCHMED (China) Limited (NASDAQ:HCM)

Rhumbline Advisers increased its position in HUTCHMED (China) Limited (NASDAQ:HCM) by 8.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,553 shares of the company’s stock after acquiring an additional 564 shares during the quarter. Rhumbline Advisers’ holdings in HUTCHMED were worth $129,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in HCM. M&G Plc bought a new stake in HUTCHMED in the 1st quarter valued at $4,458,000. Hsbc Holdings PLC grew its holdings in HUTCHMED by 821.2% during the 4th quarter. Hsbc Holdings PLC now owns 206,544 shares of the company’s stock valued at $3,720,000 after buying an additional 184,123 shares in the last quarter. Bellevue Group AG increased its stake in HUTCHMED by 2.1% in the 1st quarter. Bellevue Group AG now owns 1,154,632 shares of the company’s stock worth $19,398,000 after acquiring an additional 23,521 shares during the last quarter. BNP Paribas Financial Markets boosted its position in shares of HUTCHMED by 54.9% during the 1st quarter. BNP Paribas Financial Markets now owns 42,926 shares of the company’s stock valued at $721,000 after acquiring an additional 15,221 shares during the last quarter. Finally, Russell Investments Group Ltd. grew its holdings in shares of HUTCHMED by 70.5% in the first quarter. Russell Investments Group Ltd. now owns 18,179 shares of the company’s stock valued at $304,000 after purchasing an additional 7,515 shares in the last quarter. Institutional investors own 8.82% of the company’s stock.

HUTCHMED Price Performance

NASDAQ:HCM opened at $19.04 on Monday. The company has a quick ratio of 2.68, a current ratio of 2.81 and a debt-to-equity ratio of 0.07. HUTCHMED has a 1-year low of $11.93 and a 1-year high of $21.92. The company has a 50-day moving average of $18.05 and a 200 day moving average of $18.14.

Analyst Upgrades and Downgrades

Several research firms have commented on HCM. StockNews.com lowered shares of HUTCHMED from a “buy” rating to a “hold” rating in a research report on Thursday, July 18th. The Goldman Sachs Group lifted their price target on HUTCHMED from $17.00 to $19.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st.

HUTCHMED Profile

HUTCHMED (China) Limited, together with its subsidiaries, discovers, develops, and commercializes targeted therapeutics and immunotherapies for cancer and immunological diseases in Hong Kong and internationally. The company develops Savolitinib for the treatment of non-small cell lung cancer (NSCLC), papillary renal cell carcinoma (RCC), and gastric cancer (GC); and Fruquintinib, an inhibitor for colorectal cancer (CRC), breast cancer, gastric cancer, microsatellite stable-CRC endometrial cancer (EMC), NSCLC, RCC, gastrointestinal, cervical, and solid tumors.