HUTCHMED (China) Limited (NASDAQ:HCM – Get Free Report) traded down 2.3% on Friday . The company traded as low as $19.43 and last traded at $19.45. 12,715 shares changed hands during trading, a decline of 90% from the average session volume of 124,509 shares. The stock had previously closed at $19.91.
Analyst Upgrades and Downgrades
A number of equities analysts have recently weighed in on the stock. StockNews.com cut shares of HUTCHMED from a “buy” rating to a “hold” rating in a research report on Thursday, July 18th. The Goldman Sachs Group boosted their price objective on shares of HUTCHMED from $17.00 to $19.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st.
View Our Latest Stock Report on HUTCHMED
HUTCHMED Trading Down 2.3 %
Institutional Investors Weigh In On HUTCHMED
Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. China Universal Asset Management Co. Ltd. increased its stake in shares of HUTCHMED by 65.1% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 5,933 shares of the company’s stock worth $100,000 after purchasing an additional 2,340 shares during the last quarter. Rhumbline Advisers increased its stake in shares of HUTCHMED by 8.1% during the 2nd quarter. Rhumbline Advisers now owns 7,553 shares of the company’s stock worth $129,000 after purchasing an additional 564 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new position in shares of HUTCHMED during the 2nd quarter worth about $213,000. Vanguard Personalized Indexing Management LLC increased its stake in shares of HUTCHMED by 9.7% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 13,216 shares of the company’s stock worth $226,000 after purchasing an additional 1,168 shares during the last quarter. Finally, Point72 Asset Management L.P. acquired a new position in shares of HUTCHMED during the 2nd quarter worth about $279,000. 8.82% of the stock is owned by institutional investors.
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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