Pictet Asset Management SA Sells 10,700 Shares of HUTCHMED (China) Limited (NASDAQ:HCM)

Pictet Asset Management SA reduced its stake in HUTCHMED (China) Limited (NASDAQ:HCMGet Rating) by 9.9% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 97,600 shares of the company’s stock after selling 10,700 shares during the quarter. Pictet Asset Management SA’s holdings in HUTCHMED were worth $1,234,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. abrdn plc bought a new stake in HUTCHMED in the second quarter valued at $133,000. Aviva PLC grew its position in HUTCHMED by 10.7% in the second quarter. Aviva PLC now owns 45,500 shares of the company’s stock valued at $575,000 after acquiring an additional 4,400 shares during the period. DekaBank Deutsche Girozentrale grew its holdings in shares of HUTCHMED by 822.0% during the second quarter. DekaBank Deutsche Girozentrale now owns 43,917 shares of the company’s stock worth $542,000 after purchasing an additional 39,154 shares during the last quarter. Asset Management One Co. Ltd. grew its holdings in shares of HUTCHMED by 10.9% during the second quarter. Asset Management One Co. Ltd. now owns 17,519 shares of the company’s stock worth $221,000 after purchasing an additional 1,724 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its holdings in HUTCHMED by 417.8% in the second quarter. Assenagon Asset Management S.A. now owns 638,446 shares of the company’s stock valued at $8,070,000 after acquiring an additional 515,158 shares during the last quarter. 27.37% of the stock is currently owned by institutional investors and hedge funds.

HUTCHMED Trading Down 4.2 %

Shares of NASDAQ HCM opened at $10.05 on Wednesday. HUTCHMED has a 12 month low of $7.39 and a 12 month high of $36.37. The stock has a 50 day moving average of $9.39 and a 200-day moving average of $11.10.

Analysts Set New Price Targets

HCM has been the topic of several analyst reports. The Goldman Sachs Group increased their target price on HUTCHMED from $14.00 to $16.00 and gave the company a “neutral” rating in a research note on Tuesday, August 9th. StockNews.com started coverage on HUTCHMED in a report on Wednesday, October 12th. They set a “hold” rating for the company.

HUTCHMED Profile

(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.

See Also

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Institutional Ownership by Quarter for HUTCHMED (NASDAQ:HCM)

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