HUTCHMED (China) Limited (NASDAQ:HCM – Get Free Report)’s stock price gapped up before the market opened on Friday . The stock had previously closed at $16.81, but opened at $17.27. HUTCHMED shares last traded at $17.29, with a volume of 4,953 shares trading hands.
Analyst Ratings Changes
A number of research firms recently issued reports on HCM. The Goldman Sachs Group upped their target price on HUTCHMED from $17.00 to $19.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. StockNews.com lowered HUTCHMED from a “buy” rating to a “hold” rating in a research note on Thursday, July 18th.
Check Out Our Latest Report on HCM
HUTCHMED Trading Up 3.4 %
Institutional Investors Weigh In On HUTCHMED
Several hedge funds have recently made changes to their positions in the business. Bellevue Group AG lifted its holdings in shares of HUTCHMED by 2.1% during 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 period. M&G Plc purchased a new position in HUTCHMED during the first quarter worth approximately $4,458,000. Hsbc Holdings PLC boosted its holdings in shares of HUTCHMED by 821.2% in the 4th quarter. Hsbc Holdings PLC now owns 206,544 shares of the company’s stock valued at $3,720,000 after purchasing an additional 184,123 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in shares of HUTCHMED by 74.8% in the 2nd quarter. Renaissance Technologies LLC now owns 131,300 shares of the company’s stock valued at $2,248,000 after purchasing an additional 56,200 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. grew its stake in shares of HUTCHMED by 8.6% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 61,887 shares of the company’s stock valued at $1,060,000 after buying an additional 4,877 shares during the period. Institutional investors and hedge funds own 8.82% of the company’s stock.
About HUTCHMED
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.
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