Pictet Asset Management SA trimmed its holdings in shares of HUTCHMED (China) Limited (NASDAQ:HCM – Get Rating) by 9.9% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 97,600 shares of the company’s stock after selling 10,700 shares during the period. Pictet Asset Management SA owned approximately 0.06% of HUTCHMED worth $1,234,000 as of its most recent SEC filing.
Several other large investors have also recently made changes to their positions in the business. Qube Research & Technologies Ltd purchased a new position in HUTCHMED in the 1st quarter worth approximately $1,222,000. SG Americas Securities LLC lifted 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 worth $1,243,000 after purchasing an additional 4,406 shares in the last quarter. AIA Group Ltd raised its position in shares of HUTCHMED by 10.0% during 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 in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its position in shares of HUTCHMED by 36.8% during the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 30,584 shares of the company’s stock valued at $579,000 after buying an additional 8,223 shares in the last quarter. Finally, Swiss National Bank raised its position in HUTCHMED by 15.9% in the 1st quarter. Swiss National Bank now owns 210,760 shares of the company’s stock worth $3,988,000 after purchasing an additional 28,900 shares during the period. 27.37% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of equities analysts have commented on the stock. The Goldman Sachs Group upped their target price 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. StockNews.com initiated coverage on shares of HUTCHMED in a report on Wednesday, October 12th. They set a “hold” rating for the company.
HUTCHMED Price Performance
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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