HUTCHMED (China) Limited (NASDAQ:HCM – Get Free Report) 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
Several analysts have issued reports on the company. The Goldman Sachs Group upped their price objective 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 cut HUTCHMED from a “buy” rating to a “hold” rating in a research report on Thursday, July 18th.
HUTCHMED Stock Performance
Institutional Trading of HUTCHMED
A number of institutional investors and hedge funds have recently made changes to their positions in HCM. Cubist Systematic Strategies LLC bought a new position in HUTCHMED in the 2nd quarter worth approximately $213,000. Point72 Asset Management L.P. bought a new position in HUTCHMED during the 2nd quarter valued at $279,000. Vanguard Personalized Indexing Management LLC boosted its stake in HUTCHMED by 9.7% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 13,216 shares of the company’s stock valued at $226,000 after purchasing an additional 1,168 shares in the last quarter. Renaissance Technologies LLC lifted its position in shares of HUTCHMED by 74.8% during the 2nd quarter. Renaissance Technologies LLC now owns 131,300 shares of the company’s stock valued at $2,248,000 after acquiring an additional 56,200 shares during the last quarter. Finally, Rhumbline Advisers lifted its position in shares of HUTCHMED by 8.1% during the 2nd quarter. Rhumbline Advisers now owns 7,553 shares of the company’s stock valued at $129,000 after acquiring an additional 564 shares during the last quarter. 8.82% of the stock is currently owned by institutional investors and hedge funds.
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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