HUTCHMED (China) Limited (NASDAQ:HCM – Get Free Report)’s share price was down 3.7% during mid-day trading on Wednesday . The company traded as low as $16.23 and last traded at $16.26. Approximately 6,645 shares traded hands during mid-day trading, a decline of 94% from the average daily volume of 116,857 shares. The stock had previously closed at $16.88.
Analysts Set New Price Targets
Separately, StockNews.com lowered HUTCHMED from a “buy” rating to a “hold” rating in a research note on Monday, November 18th.
Get Our Latest Stock Report on HCM
HUTCHMED Price Performance
Institutional Inflows and Outflows
A number of large investors have recently made changes to their positions in HCM. Public Employees Retirement System of Ohio purchased a new stake in shares of HUTCHMED during the 3rd quarter valued at $35,000. Blue Trust Inc. grew its holdings in shares of HUTCHMED by 638.2% during the 3rd quarter. Blue Trust Inc. now owns 3,536 shares of the company’s stock worth $69,000 after purchasing an additional 3,057 shares during the period. China Universal Asset Management Co. Ltd. increased its position in shares of HUTCHMED by 63.7% in the third quarter. China Universal Asset Management Co. Ltd. now owns 5,966 shares of the company’s stock worth $117,000 after acquiring an additional 2,321 shares in the last quarter. Rhumbline Advisers increased its holdings in HUTCHMED by 8.1% in the 2nd quarter. Rhumbline Advisers now owns 7,553 shares of the company’s stock valued at $129,000 after purchasing an additional 564 shares in the last quarter. Finally, Cubist Systematic Strategies LLC purchased a new stake in shares of HUTCHMED during the 2nd quarter valued at about $213,000. Hedge funds and other institutional investors own 8.82% of the company’s stock.
About HUTCHMED
HUTCHMED (China) Limited, together with its subsidiaries, discovers, develops, and commercializes targeted therapeutics and immunotherapies for cancer and immunological diseases in Hong Kong and internationally. The company develops Savolitinib for the treatment of non-small cell lung cancer (NSCLC), papillary renal cell carcinoma (RCC), and gastric cancer (GC); and Fruquintinib, an inhibitor for colorectal cancer (CRC), breast cancer, gastric cancer, microsatellite stable-CRC endometrial cancer (EMC), NSCLC, RCC, gastrointestinal, cervical, and solid tumors.
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