HUTCHMED (China) Limited (NASDAQ:HCM) Short Interest Update

HUTCHMED (China) Limited (NASDAQ:HCM – Get Rating) saw a significant increase in short interest in the month of June. As of June 15th, there was short interest totalling 2,430,000 shares, an increase of 73.6% from the May 31st total of 1,400,000 shares. Based on an average trading volume of 630,300 shares, the days-to-cover ratio is currently 3.9 days.

Shares of NASDAQ HCM traded up $0.44 during midday trading on Friday, hitting $13.08. 9,888 shares of the stock traded hands, compared to its average volume of 563,099. HUTCHMED has a one year low of $8.40 and a one year high of $43.94. The business has a 50 day moving average price of $11.15 and a two-hundred day moving average price of $20.60.

A number of equities analysts recently commented on the company. Deutsche Bank Aktiengesellschaft lowered HUTCHMED from a “buy” rating to a “hold” rating in a research note on Wednesday, May 4th. StockNews.com began coverage on HUTCHMED in a report on Thursday, March 31st. They issued a “hold” rating for the company. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $47.67.

A number of institutional investors have recently made changes to their positions in HCM. Royal Bank of Canada grew its holdings in HUTCHMED by 12.3% during the third quarter. Royal Bank of Canada now owns 120,913 shares of the company’s stock worth $4,427,000 after buying an additional 13,237 shares in the last quarter. UBS Group AG boosted its position in HUTCHMED by 4.3% in the third quarter. UBS Group AG now owns 148,525 shares of the company’s stock worth $5,437,000 after purchasing an additional 6,066 shares during the last quarter. BNP Paribas Arbitrage SA boosted its position in HUTCHMED by 13.3% in the third quarter. BNP Paribas Arbitrage SA now owns 147,293 shares of the company’s stock worth $5,392,000 after purchasing an additional 17,250 shares during the last quarter. UBS Asset Management Americas Inc. boosted its position in HUTCHMED by 5.6% in the third quarter. UBS Asset Management Americas Inc. now owns 422,764 shares of the company’s stock worth $15,477,000 after purchasing an additional 22,409 shares during the last quarter. Finally, Royal London Asset Management Ltd. boosted its position in HUTCHMED by 7.1% in the fourth quarter. Royal London Asset Management Ltd. now owns 134,900 shares of the company’s stock worth $4,724,000 after purchasing an additional 8,900 shares during the last quarter. Institutional investors and hedge funds own 31.03% of the company’s stock.

About HUTCHMED (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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