Renaissance Technologies LLC Grows Position in HUTCHMED (China) Limited (NASDAQ:HCM)

Renaissance Technologies LLC raised its holdings in HUTCHMED (China) Limited (NASDAQ:HCM) by 74.8% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 131,300 shares of the company’s stock after acquiring an additional 56,200 shares during the period. Renaissance Technologies LLC owned approximately 0.08% of HUTCHMED worth $2,248,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of HCM. M&G Plc purchased a new stake in shares of HUTCHMED in the 1st quarter valued at about $4,458,000. Hsbc Holdings PLC increased its position in shares of HUTCHMED by 821.2% during 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. Bellevue Group AG increased its position 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 valued at $19,398,000 after purchasing an additional 23,521 shares during the last quarter. BNP Paribas Financial Markets increased its position in shares of HUTCHMED by 54.9% during the 1st quarter. BNP Paribas Financial Markets now owns 42,926 shares of the company’s stock valued at $721,000 after purchasing an additional 15,221 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its position in shares of HUTCHMED by 70.5% during the 1st quarter. Russell Investments Group Ltd. now owns 18,179 shares of the company’s stock valued at $304,000 after purchasing an additional 7,515 shares during the last quarter. Hedge funds and other institutional investors own 8.82% of the company’s stock.

HUTCHMED Stock Up 4.1 %

HCM opened at $20.82 on Thursday. The stock’s 50 day simple moving average is $18.06 and its 200 day simple moving average is $18.17. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.68 and a current ratio of 2.81. HUTCHMED has a 1 year low of $11.93 and a 1 year high of $21.92.

Wall Street Analyst Weigh In

HCM has been the topic of several recent research reports. StockNews.com lowered HUTCHMED from a “buy” rating to a “hold” rating in a research report on Thursday, July 18th. The Goldman Sachs Group increased their price objective on HUTCHMED from $17.00 to $19.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st.

HUTCHMED 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.