HUTCHMED (China) Limited (NASDAQ:HCM) Shares Sold by Shell Asset Management Co.

Shell Asset Management Co. lowered its stake in shares of HUTCHMED (China) Limited (NASDAQ:HCMGet Rating) by 53.0% in the second quarter, HoldingsChannel reports. The firm owned 8,420 shares of the company’s stock after selling 9,500 shares during the quarter. Shell Asset Management Co.’s holdings in HUTCHMED were worth $106,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in HCM. Asset Management One Co. Ltd. boosted its position in HUTCHMED by 10.9% during the 2nd quarter. Asset Management One Co. Ltd. now owns 17,519 shares of the company’s stock worth $221,000 after acquiring an additional 1,724 shares during the period. First Republic Investment Management Inc. boosted its position in HUTCHMED by 10.3% during the 1st quarter. First Republic Investment Management Inc. now owns 22,307 shares of the company’s stock worth $422,000 after acquiring an additional 2,075 shares during the period. Quantbot Technologies LP acquired a new position in HUTCHMED during the 1st quarter worth $44,000. Bank of New York Mellon Corp boosted its position in HUTCHMED by 1.9% during the 1st quarter. Bank of New York Mellon Corp now owns 141,157 shares of the company’s stock worth $2,671,000 after acquiring an additional 2,603 shares during the period. Finally, Invesco Ltd. boosted its position in HUTCHMED by 18.1% during the 1st quarter. Invesco Ltd. now owns 17,007 shares of the company’s stock worth $322,000 after acquiring an additional 2,609 shares during the period. Institutional investors and hedge funds own 27.37% of the company’s stock.

HUTCHMED Stock Performance

Shares of HUTCHMED stock opened at $10.77 on Friday. The business has a fifty day simple moving average of $9.54 and a 200-day simple moving average of $11.11. HUTCHMED has a fifty-two week low of $7.39 and a fifty-two week high of $36.37.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. The Goldman Sachs Group boosted their price target on HUTCHMED from $14.00 to $16.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 9th. StockNews.com began coverage on HUTCHMED in a report on Wednesday, October 12th. They issued a “hold” rating for the company.

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.

See Also

Want to see what other hedge funds are holding HCM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for HUTCHMED (China) Limited (NASDAQ:HCMGet Rating).

Institutional Ownership by Quarter for HUTCHMED (NASDAQ:HCM)

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