HUTCHMED (China) Limited (NASDAQ:HCM – Get Free Report) gapped up prior to trading on Monday . The stock had previously closed at $14.02, but opened at $15.18. HUTCHMED shares last traded at $15.18, with a volume of 30,689 shares changing hands.
Analysts Set New Price Targets
Several brokerages recently weighed in on HCM. StockNews.com began coverage on HUTCHMED in a research report on Thursday, August 17th. They set a “hold” rating for the company. Citigroup began coverage on HUTCHMED in a research report on Wednesday, August 2nd. They set a “buy” rating for the company. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $50.00 price objective on shares of HUTCHMED in a research report on Tuesday, September 5th.
HUTCHMED Stock Up 5.6 %
Institutional Investors Weigh In On HUTCHMED
Several large investors have recently added to or reduced their stakes in the business. XY Capital Ltd grew its stake in HUTCHMED by 5.8% during the first quarter. XY Capital Ltd now owns 11,550 shares of the company’s stock worth $150,000 after purchasing an additional 637 shares during the period. Cubist Systematic Strategies LLC boosted its holdings in HUTCHMED by 4.5% in the second quarter. Cubist Systematic Strategies LLC now owns 22,273 shares of the company’s stock worth $282,000 after acquiring an additional 950 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in HUTCHMED by 7.4% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 17,889 shares of the company’s stock worth $264,000 after acquiring an additional 1,225 shares in the last quarter. UBS Group AG boosted its holdings in HUTCHMED by 2.5% in the first quarter. UBS Group AG now owns 57,848 shares of the company’s stock worth $753,000 after acquiring an additional 1,401 shares in the last quarter. Finally, Janney Capital Management LLC boosted its holdings in HUTCHMED by 12.0% in the first quarter. Janney Capital Management LLC now owns 16,824 shares of the company’s stock worth $219,000 after acquiring an additional 1,797 shares in the last quarter. Institutional investors and hedge funds own 14.13% of the company’s stock.
HUTCHMED Company Profile
HUTCHMED (China) Limited discovers, develops, and commercializes targeted therapeutics and immunotherapies for cancer and immunological diseases in Hong Kong and internationally. 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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