HUTCHMED (China) Limited (NASDAQ:HCM – Get Free Report)’s stock price gapped down before the market opened on Wednesday . The stock had previously closed at $20.61, but opened at $19.94. HUTCHMED shares last traded at $19.96, with a volume of 23,370 shares trading hands.
Analyst Upgrades and Downgrades
A number of analysts recently issued reports on the company. StockNews.com cut HUTCHMED from a “buy” rating to a “hold” rating in a research note on Thursday, July 18th. The Goldman Sachs Group boosted their price objective on shares of HUTCHMED from $17.00 to $19.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st.
Get Our Latest Stock Report on HCM
HUTCHMED Trading Down 2.9 %
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently made changes to their positions in the business. Hennion & Walsh Asset Management Inc. boosted its holdings in shares of HUTCHMED by 2.5% during the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 57,010 shares of the company’s stock worth $958,000 after buying an additional 1,388 shares during the period. China Universal Asset Management Co. Ltd. grew its position in shares of HUTCHMED by 65.1% in the first quarter. China Universal Asset Management Co. Ltd. now owns 5,933 shares of the company’s stock valued at $100,000 after purchasing an additional 2,340 shares during the last quarter. BNP Paribas Financial Markets increased its stake in shares of HUTCHMED by 54.9% during the first quarter. BNP Paribas Financial Markets now owns 42,926 shares of the company’s stock worth $721,000 after purchasing an additional 15,221 shares during the period. Russell Investments Group Ltd. lifted its holdings in HUTCHMED by 70.5% during the 1st quarter. Russell Investments Group Ltd. now owns 18,179 shares of the company’s stock worth $304,000 after purchasing an additional 7,515 shares during the last quarter. Finally, M&G Plc bought a new stake in HUTCHMED in the 1st quarter valued at $4,458,000. 8.82% of the stock is currently owned by institutional investors.
HUTCHMED Company 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.
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