HUTCHMED (NASDAQ:HCM) Shares Up 4.3%

HUTCHMED (China) Limited (NASDAQ:HCMGet Rating) shares shot up 4.3% during mid-day trading on Wednesday . The company traded as high as $18.43 and last traded at $18.43. 142,091 shares changed hands during trading, a decline of 49% from the average session volume of 280,462 shares. The stock had previously closed at $17.67.

Analyst Upgrades and Downgrades

Separately, StockNews.com began coverage on shares of HUTCHMED in a research report on Wednesday, October 12th. They set a “hold” rating for the company.

HUTCHMED Price Performance

The business’s fifty day simple moving average is $14.39 and its two-hundred day simple moving average is $12.32.

Institutional Investors Weigh In On HUTCHMED

Several hedge funds have recently modified their holdings of HCM. Goldman Sachs Group Inc. boosted its stake in shares of HUTCHMED by 1,096.7% during the 2nd quarter. Goldman Sachs Group Inc. now owns 3,913,287 shares of the company’s stock worth $49,464,000 after acquiring an additional 3,586,271 shares in the last quarter. M&G Investment Management Ltd. lifted its stake in HUTCHMED by 22.9% in the 3rd quarter. M&G Investment Management Ltd. now owns 8,577,437 shares of the company’s stock valued at $77,197,000 after buying an additional 1,600,209 shares in the last quarter. Bellevue Group AG lifted its stake in HUTCHMED by 62.6% in the 1st quarter. Bellevue Group AG now owns 1,750,690 shares of the company’s stock valued at $33,123,000 after buying an additional 673,820 shares in the last quarter. Assenagon Asset Management S.A. lifted its stake in HUTCHMED by 417.8% in the 2nd quarter. Assenagon Asset Management S.A. now owns 638,446 shares of the company’s stock valued at $8,070,000 after buying an additional 515,158 shares in the last quarter. Finally, Allianz Asset Management GmbH lifted its stake in HUTCHMED by 38.3% in the 3rd quarter. Allianz Asset Management GmbH now owns 1,761,689 shares of the company’s stock valued at $15,609,000 after buying an additional 488,185 shares in the last quarter. 22.14% of the stock is owned by hedge funds and other institutional investors.

HUTCHMED Company 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.

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