HUTCHMED (NASDAQ:HCM) Shares Gap Up to $12.13

HUTCHMED (China) Limited (NASDAQ:HCMGet Rating)’s share price gapped up before the market opened on Thursday . The stock had previously closed at $12.13, but opened at $13.37. HUTCHMED shares last traded at $13.32, with a volume of 4,521 shares.

Analyst Ratings Changes

Several equities research analysts have weighed in on HCM shares. StockNews.com assumed coverage on HUTCHMED in a research report on Wednesday, October 12th. They issued a “hold” rating on the stock. 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 research note on Tuesday, August 9th.

HUTCHMED Price Performance

The business has a 50-day simple moving average of $9.39 and a two-hundred day simple moving average of $11.15.

Institutional Trading of HUTCHMED

Several institutional investors and hedge funds have recently added to or reduced their stakes in HCM. Capital International Investors boosted its position in HUTCHMED by 0.6% during the 1st quarter. Capital International Investors now owns 9,105,103 shares of the company’s stock worth $173,532,000 after acquiring an additional 50,212 shares during the period. M&G Investment Management Ltd. boosted its stake in shares of HUTCHMED by 22.9% during the 3rd quarter. M&G Investment Management Ltd. now owns 8,577,437 shares of the company’s stock valued at $77,197,000 after buying an additional 1,600,209 shares during the period. Capital Group International Inc. CA grew its holdings in shares of HUTCHMED by 4.0% during the 1st quarter. Capital Group International Inc. CA now owns 4,191,161 shares of the company’s stock valued at $79,297,000 after acquiring an additional 161,161 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in shares of HUTCHMED by 1,096.7% in the second quarter. Goldman Sachs Group Inc. now owns 3,913,287 shares of the company’s stock worth $49,464,000 after acquiring an additional 3,586,271 shares during the last quarter. Finally, BlackRock Inc. boosted its position in HUTCHMED by 3.6% during the first quarter. BlackRock Inc. now owns 3,516,585 shares of the company’s stock valued at $66,534,000 after purchasing an additional 123,396 shares during the last quarter. 27.37% of the stock is owned by institutional investors and hedge funds.

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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