HUTCHMED (China) Limited (NASDAQ:HCM – Get Rating) was the target of a large decrease in short interest in 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 trading volume of 350,900 shares, the days-to-cover ratio is currently 5.0 days.
HUTCHMED Stock Performance
Shares of HCM traded up $0.23 during mid-day trading on Friday, hitting $8.86. 444,340 shares of the company's stock were exchanged, compared to its average volume of 449,485. The firm has a fifty day moving average of $12.27 and a two-hundred day moving average of $13.25. HUTCHMED has a twelve month low of $8.37 and a twelve month high of $36.81.
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Analyst Ratings Changes
Several research analysts have weighed in on HCM shares. 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 increased their price target on shares of HUTCHMED from $14.00 to $16.00 and gave the stock a "neutral" rating in a research note on Tuesday, August 9th.
Institutional Inflows and Outflows
Several hedge funds have recently modified their holdings of the business. Qube Research & Technologies Ltd acquired a new position in HUTCHMED in the 1st quarter valued at $1,222,000. Capital International Investors grew 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 buying an additional 128,422 shares during the last quarter. SG Americas Securities LLC grew its stake in HUTCHMED by 7.2% in the 1st quarter. SG Americas Securities LLC now owns 65,692 shares of the company's stock valued at $1,243,000 after buying an additional 4,406 shares during the last quarter. AIA Group Ltd grew its stake in HUTCHMED by 10.0% in 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 during the last quarter. Finally, Baillie Gifford & Co. boosted its holdings in HUTCHMED by 0.5% in the 1st quarter. Baillie Gifford & Co. now owns 365,792 shares of the company's stock valued at $6,921,000 after purchasing an additional 1,724 shares during the period. Institutional investors and hedge funds own 27.37% of the company's stock.
HUTCHMED Company Profile
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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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