MMCAP International Inc. SPC Invests $10.04 Million in HCM Acquisition Corp $HCMA

MMCAP International Inc. SPC purchased a new position in HCM Acquisition Corp (NASDAQ:HCMA) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,000,000 shares of the company’s stock, valued at approximately $10,040,000. MMCAP International Inc. SPC owned about 7.07% of HCM Acquisition at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Fort Baker Capital Management LP bought a new position in shares of HCM Acquisition in the 3rd quarter worth $101,000. DLD Asset Management LP bought a new position in shares of HCM Acquisition in the 3rd quarter worth $104,000. ABC Arbitrage SA bought a new position in shares of HCM Acquisition in the 4th quarter worth $201,000. Millennium Management LLC bought a new position in shares of HCM Acquisition in the 3rd quarter worth $202,000. Finally, JPMorgan Chase & Co. bought a new position in shares of HCM Acquisition during the 3rd quarter valued at $251,000. Institutional investors own 11.79% of the company’s stock.

HCM Acquisition Stock Up 0.2%

HCMA stock opened at $10.24 on Wednesday. HCM Acquisition Corp has a 52 week low of $10.03 and a 52 week high of $10.49. The firm’s fifty day moving average is $10.13 and its 200 day moving average is $10.13.

HCM Acquisition (NASDAQ:HCMA) last released its earnings results on Thursday, May 14th. The company reported $0.05 EPS for the quarter.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (e)” rating on shares of HCM Acquisition in a report on Friday, March 27th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock has an average rating of “Sell”.

HCM Acquisition Profile

HCM Acquisition Corp. is a Delaware‐incorporated special purpose acquisition company (SPAC) that was formed to identify and complete a business combination with one or more target businesses. The company raised capital through its initial public offering and is listed on the Nasdaq under the ticker HCMA. As a blank check vehicle, HCM Acquisition holds its funds in trust until it consummates a qualifying merger, share exchange, asset acquisition or other business combination.

The SPAC is sponsored by affiliates of Healthcare Capital Management LLC, a Los Angeles‐based investment firm with experience in healthcare and life sciences investing.