HUTCHMED (NASDAQ:HCM) Trading Up 2.7%

Shares of HUTCHMED (China) Limited (NASDAQ:HCMGet Rating) were up 2.7% during mid-day trading on Friday . The stock traded as high as $12.39 and last traded at $12.39. Approximately 4,641 shares were traded during mid-day trading, a decline of 98% from the average daily volume of 218,866 shares. The stock had previously closed at $12.07.

Analyst Ratings Changes

Several equities analysts recently issued reports on HCM shares. StockNews.com raised HUTCHMED from a “sell” rating to a “hold” rating in a research report on Monday, August 1st. The Goldman Sachs Group upped their price objective on HUTCHMED from $14.00 to $16.00 and gave the company a “neutral” rating in a research report on Tuesday, August 9th.

HUTCHMED Stock Performance

The business’s 50 day simple moving average is $13.04 and its two-hundred day simple moving average is $13.91.

Institutional Investors Weigh In On HUTCHMED

Hedge funds have recently added to or reduced their stakes in the stock. Quantbot Technologies LP purchased a new stake in HUTCHMED during the 1st quarter valued at $44,000. US Bancorp DE raised its stake in HUTCHMED by 270.9% during the 1st quarter. US Bancorp DE now owns 3,687 shares of the company’s stock valued at $70,000 after buying an additional 2,693 shares during the last quarter. abrdn plc raised its stake in HUTCHMED by 7.9% during the 4th quarter. abrdn plc now owns 8,084 shares of the company’s stock valued at $284,000 after buying an additional 595 shares during the last quarter. National Pension Service raised its stake in HUTCHMED by 429.1% during the 2nd quarter. National Pension Service now owns 9,101 shares of the company’s stock valued at $115,000 after buying an additional 7,381 shares during the last quarter. Finally, Panagora Asset Management Inc. raised its stake in HUTCHMED by 60.2% during the 4th quarter. Panagora Asset Management Inc. now owns 11,707 shares of the company’s stock valued at $411,000 after buying an additional 4,398 shares during the last quarter. 27.37% of the stock is currently owned by hedge funds and other institutional investors.

About HUTCHMED

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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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