Sands Capital Management LLC trimmed its holdings in shares of HUTCHMED (China) Limited (NASDAQ:HCM – Get Rating) by 1.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,189,421 shares of the company's stock after selling 43,916 shares during the period. Sands Capital Management LLC owned about 2.42% of HUTCHMED worth $79,264,000 at the end of the most recent reporting period.
A number of other hedge funds also recently made changes to their positions in the business. Capital International Investors raised its stake in HUTCHMED by 1.4% in the 4th quarter. Capital International Investors now owns 9,054,891 shares of the company's stock valued at $317,923,000 after acquiring an additional 128,422 shares during the period. BlackRock Inc. grew its holdings in HUTCHMED by 3.6% during the 1st quarter. BlackRock Inc. now owns 3,516,585 shares of the company's stock valued at $66,534,000 after buying an additional 123,396 shares in the last quarter. Schroder Investment Management Group grew its holdings in HUTCHMED by 2.4% during the 4th quarter. Schroder Investment Management Group now owns 3,102,043 shares of the company's stock valued at $21,764,000 after buying an additional 71,992 shares in the last quarter. Baillie Gifford & Co. grew its holdings in HUTCHMED by 0.5% during the 1st quarter. Baillie Gifford & Co. now owns 365,792 shares of the company's stock valued at $6,921,000 after buying an additional 1,724 shares in the last quarter. Finally, AIA Group Ltd grew its holdings in HUTCHMED by 10.0% during the 1st quarter. AIA Group Ltd now owns 356,640 shares of the company's stock valued at $6,748,000 after buying an additional 32,279 shares in the last quarter. 27.37% of the stock is currently owned by institutional investors.
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HUTCHMED Stock Up 5.4 %
Shares of NASDAQ HCM traded up $0.71 during midday trading on Friday, hitting $13.85. 2,176 shares of the company's stock were exchanged, compared to its average volume of 166,753. HUTCHMED has a 12-month low of $8.40 and a 12-month high of $41.07. The business's fifty day moving average price is $13.17 and its two-hundred day moving average price is $14.58.
Wall Street Analysts Forecast Growth
A number of research firms have weighed in on HCM. The Goldman Sachs Group lifted their target price on HUTCHMED from $14.00 to $16.00 and gave the company a "neutral" rating in a report on Tuesday, August 9th. StockNews.com raised HUTCHMED from a "sell" rating to a "hold" rating in a report on Monday, August 1st.
About HUTCHMED
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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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