HUTCHMED (China) Limited (NASDAQ:HCM) Sees Large Growth in Short Interest

HUTCHMED (China) Limited (NASDAQ:HCMGet Rating) was the recipient of a large growth in short interest during the month of July. As of July 15th, there was short interest totalling 3,240,000 shares, a growth of 25.1% from the June 30th total of 2,590,000 shares. Based on an average daily volume of 670,300 shares, the days-to-cover ratio is currently 4.8 days.

HUTCHMED Stock Down 7.7 %

HCM stock opened at $12.07 on Tuesday. The firm’s fifty day simple moving average is $11.83 and its 200-day simple moving average is $17.23. HUTCHMED has a 12 month low of $8.40 and a 12 month high of $43.40.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. StockNews.com raised shares of HUTCHMED from a “sell” rating to a “hold” rating in a research report on Monday. Deutsche Bank Aktiengesellschaft lowered shares of HUTCHMED from a “buy” rating to a “hold” rating in a research report on Wednesday, May 4th.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. BNP Paribas Arbitrage SA raised its holdings in shares of HUTCHMED by 56.5% during the fourth quarter. BNP Paribas Arbitrage SA now owns 230,558 shares of the company’s stock worth $8,088,000 after purchasing an additional 83,265 shares during the last quarter. Capital International Investors raised its holdings in shares of HUTCHMED by 1.4% during the fourth quarter. Capital International Investors now owns 9,054,891 shares of the company’s stock worth $317,923,000 after purchasing an additional 128,422 shares during the last quarter. SG Americas Securities LLC raised its holdings in shares of HUTCHMED by 7.2% during the first quarter. SG Americas Securities LLC now owns 65,692 shares of the company’s stock worth $1,243,000 after purchasing an additional 4,406 shares during the last quarter. Schroder Investment Management Group raised its holdings in shares of HUTCHMED by 2.4% during the fourth quarter. Schroder Investment Management Group now owns 3,102,043 shares of the company’s stock worth $21,764,000 after purchasing an additional 71,992 shares during the last quarter. Finally, Baillie Gifford & Co. raised its holdings in shares of HUTCHMED by 0.5% during the first quarter. Baillie Gifford & Co. now owns 365,792 shares of the company’s stock worth $6,921,000 after purchasing an additional 1,724 shares during the last quarter. Hedge funds and other institutional investors own 31.03% of the company’s stock.

About HUTCHMED

(Get Rating)

HUTCHMED (China) Limited discovers, develops, and commercializes targeted therapeutics and immunotherapies for cancer and immunological diseases in HongKong and internationally. It operates in Oncology/Immunology and Other Ventures segments. The company develops Savolitinib, an inhibitor for non-small cell lung cancer (NSCLC), papillary and renal cell carcinoma, colorectal cancer (CRC), and gastric cancer (GC); and Fruquintinib, an inhibitor for CRC, breast cancer, GC, endometrial cancer (EMC), NSCLC, hepatocellular carcinoma, and gastrointestinal and solid tumors.

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