HUTCHMED (China) Limited (NASDAQ:HCM – Get Free Report) was the target of a large growth in short interest in the month of June. As of June 15th, there was short interest totalling 509,000 shares, a growth of 13.6% from the May 31st total of 447,900 shares. Based on an average trading volume of 123,300 shares, the short-interest ratio is currently 4.1 days.
Analyst Upgrades and Downgrades
Separately, StockNews.com upgraded shares of HUTCHMED from a “hold” rating to a “buy” rating in a report on Monday, June 10th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, HUTCHMED currently has an average rating of “Moderate Buy” and a consensus price target of $29.70.
Check Out Our Latest Research Report on HUTCHMED
HUTCHMED Trading Up 3.3 %
Hedge Funds Weigh In On HUTCHMED
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HCM. Hsbc Holdings PLC acquired a new stake in shares of HUTCHMED during the third quarter worth $380,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of HUTCHMED during the third quarter worth $444,000. China Universal Asset Management Co. Ltd. lifted its holdings in shares of HUTCHMED by 353.7% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 3,593 shares of the company’s stock worth $65,000 after buying an additional 2,801 shares in the last quarter. Baillie Gifford & Co. lifted its holdings in shares of HUTCHMED by 7.2% during the fourth quarter. Baillie Gifford & Co. now owns 144,969 shares of the company’s stock worth $2,625,000 after buying an additional 9,694 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. lifted its holdings in shares of HUTCHMED by 2.5% during the first 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 in the last quarter. 8.82% of the stock is owned by institutional investors.
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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