HUTCHMED (China) Limited (NASDAQ:HCM – Get Rating) saw a significant decrease in short interest in the month of September. As of September 15th, there was short interest totalling 1,760,000 shares, a decrease of 18.9% from the August 31st total of 2,170,000 shares. Based on an average daily volume of 350,900 shares, the short-interest ratio is presently 5.0 days.
Wall Street Analyst Weigh In
HCM has been the topic of a number of recent research reports. StockNews.com upgraded shares of HUTCHMED from a "sell" rating to a "hold" rating in a research note on Monday, August 1st. The Goldman Sachs Group boosted their price objective on HUTCHMED from $14.00 to $16.00 and gave the stock a "neutral" rating in a research report on Tuesday, August 9th.
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HUTCHMED Stock Performance
HCM traded up $0.23 on Friday, reaching $8.86. The company's stock had a trading volume of 444,340 shares, compared to its average volume of 449,485. The stock has a 50 day moving average of $12.27 and a two-hundred day moving average of $13.25. HUTCHMED has a fifty-two week low of $8.37 and a fifty-two week high of $36.81.
Institutional Investors Weigh In On HUTCHMED
Several large investors have recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of HUTCHMED by 5.6% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,767 shares of the company's stock valued at $317,000 after acquiring an additional 892 shares during the period. Cubist Systematic Strategies LLC raised its stake in shares of HUTCHMED by 4.5% during the second quarter. Cubist Systematic Strategies LLC now owns 22,273 shares of the company's stock worth $282,000 after purchasing an additional 950 shares during the last quarter. Citigroup Inc. raised its stake in shares of HUTCHMED by 4.6% during the fourth quarter. Citigroup Inc. now owns 35,237 shares of the company's stock worth $1,236,000 after purchasing an additional 1,565 shares during the last quarter. Baillie Gifford & Co. raised its stake in shares of HUTCHMED by 0.5% during the first quarter. Baillie Gifford & Co. now owns 365,792 shares of the company's stock worth $6,921,000 after purchasing an additional 1,724 shares during the last quarter. Finally, Asset Management One Co. Ltd. raised its stake in shares of HUTCHMED by 10.9% during the second quarter. Asset Management One Co. Ltd. now owns 17,519 shares of the company's stock worth $221,000 after purchasing an additional 1,724 shares during the last quarter. 27.37% of the stock is owned by institutional investors and hedge funds.
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.
Further Reading
- Get a free copy of the StockNews.com research report on HUTCHMED (HCM)
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