K2 Principal Fund L.P. Sells 65,398 Shares of HCM Acquisition Corp $HCMA

K2 Principal Fund L.P. decreased its holdings in shares of HCM Acquisition Corp (NASDAQ:HCMA) by 21.8% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 234,602 shares of the company’s stock after selling 65,398 shares during the period. K2 Principal Fund L.P.’s holdings in HCM Acquisition were worth $2,355,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the business. Fort Baker Capital Management LP purchased a new stake in HCM Acquisition during the third quarter valued at about $101,000. DLD Asset Management LP purchased a new stake in HCM Acquisition during the third quarter valued at about $104,000. Glazer Capital LLC raised its position in HCM Acquisition by 5.9% during the fourth quarter. Glazer Capital LLC now owns 317,835 shares of the company’s stock valued at $3,191,000 after purchasing an additional 17,835 shares in the last quarter. ABC Arbitrage SA purchased a new stake in HCM Acquisition during the fourth quarter valued at about $201,000. Finally, Millennium Management LLC purchased a new stake in HCM Acquisition during the third quarter valued at about $202,000. Institutional investors own 11.79% of the company’s stock.

Analysts Set New Price Targets

Separately, Weiss Ratings upgraded HCM Acquisition from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, June 1st. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock has an average rating of “Sell”.

HCM Acquisition Trading Up 0.1%

HCMA opened at $10.26 on Friday. The business’s 50-day moving average price is $10.17 and its 200-day moving average price is $10.14. HCM Acquisition Corp has a 12 month low of $10.03 and a 12 month high of $10.49.

HCM Acquisition (NASDAQ:HCMA) last released its quarterly earnings data on Thursday, May 14th. The company reported $0.05 EPS for the quarter.

HCM Acquisition Company Profile

HCM Acquisition Corp. is a Delaware‐incorporated special purpose acquisition company (SPAC) that was formed to identify and complete a business combination with one or more target businesses. The company raised capital through its initial public offering and is listed on the Nasdaq under the ticker HCMA. As a blank check vehicle, HCM Acquisition holds its funds in trust until it consummates a qualifying merger, share exchange, asset acquisition or other business combination.

The SPAC is sponsored by affiliates of Healthcare Capital Management LLC, a Los Angeles‐based investment firm with experience in healthcare and life sciences investing.