HUTCHMED (China) Limited (NASDAQ:HCM – Get Free Report) shares gapped down prior to trading on Thursday . The stock had previously closed at $20.82, but opened at $19.90. HUTCHMED shares last traded at $19.73, with a volume of 12,115 shares traded.
Analyst Upgrades and Downgrades
Several equities analysts recently issued reports on HCM shares. StockNews.com lowered shares of HUTCHMED from a “buy” rating to a “hold” rating in a report on Thursday, July 18th. The Goldman Sachs Group upped their price objective on HUTCHMED from $17.00 to $19.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st.
Read Our Latest Research Report on HCM
HUTCHMED Stock Down 4.9 %
Institutional Trading of HUTCHMED
Several large investors have recently added to or reduced their stakes in HCM. Cubist Systematic Strategies LLC acquired a new stake in HUTCHMED in the second quarter valued at approximately $213,000. Point72 Asset Management L.P. acquired a new stake in HUTCHMED in the 2nd quarter valued at $279,000. Vanguard Personalized Indexing Management LLC increased its holdings in HUTCHMED by 9.7% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 13,216 shares of the company’s stock worth $226,000 after acquiring an additional 1,168 shares in the last quarter. Renaissance Technologies LLC raised its position in HUTCHMED by 74.8% during the second quarter. Renaissance Technologies LLC now owns 131,300 shares of the company’s stock worth $2,248,000 after acquiring an additional 56,200 shares during the period. Finally, Rhumbline Advisers lifted its holdings in HUTCHMED by 8.1% during the second quarter. Rhumbline Advisers now owns 7,553 shares of the company’s stock valued at $129,000 after purchasing an additional 564 shares in the last quarter. Hedge funds and other institutional investors own 8.82% of the company’s stock.
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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