Renaissance Technologies LLC Acquires 56,200 Shares of HUTCHMED (China) Limited (NASDAQ:HCM)

Renaissance Technologies LLC lifted its position in HUTCHMED (China) Limited (NASDAQ:HCM - Free Report) by 74.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 131,300 shares of the company's stock after purchasing an additional 56,200 shares during the quarter. Renaissance Technologies LLC owned 0.08% of HUTCHMED worth $2,248,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Hsbc Holdings PLC lifted its holdings in shares of HUTCHMED by 821.2% during the 4th quarter. Hsbc Holdings PLC now owns 206,544 shares of the company's stock worth $3,720,000 after acquiring an additional 184,123 shares during the period. Hennion & Walsh Asset Management Inc. lifted its stake in HUTCHMED by 2.5% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 57,010 shares of the company's stock worth $958,000 after purchasing an additional 1,388 shares during the period. China Universal Asset Management Co. Ltd. boosted its holdings in HUTCHMED by 65.1% during the first quarter. China Universal Asset Management Co. Ltd. now owns 5,933 shares of the company's stock valued at $100,000 after purchasing an additional 2,340 shares in the last quarter. BNP Paribas Financial Markets grew its stake in shares of HUTCHMED by 54.9% in the 1st quarter. BNP Paribas Financial Markets now owns 42,926 shares of the company's stock valued at $721,000 after purchasing an additional 15,221 shares during the period. Finally, Russell Investments Group Ltd. raised its holdings in shares of HUTCHMED by 70.5% in the 1st quarter. Russell Investments Group Ltd. now owns 18,179 shares of the company's stock worth $304,000 after buying an additional 7,515 shares in the last quarter. 8.82% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on HCM shares. StockNews.com cut HUTCHMED from a "buy" rating to a "hold" rating in a research report on Thursday, July 18th. The Goldman Sachs Group upped their target price on shares of HUTCHMED from $17.00 to $19.00 and gave the stock a "neutral" rating in a report on Thursday, August 1st.

HUTCHMED Stock Performance

HCM traded down $0.87 during trading on Thursday, hitting $19.95. The company's stock had a trading volume of 98,443 shares, compared to its average volume of 124,131. The company has a current ratio of 2.81, a quick ratio of 2.68 and a debt-to-equity ratio of 0.07. The firm's 50 day moving average price is $18.10 and its two-hundred day moving average price is $18.19. HUTCHMED has a 12 month low of $11.93 and a 12 month high of $21.92.

HUTCHMED Profile

HUTCHMED (China) Limited, together with its subsidiaries, discovers, develops, and commercializes targeted therapeutics and immunotherapies for cancer and immunological diseases in Hong Kong and internationally. The company develops Savolitinib for the treatment of non-small cell lung cancer (NSCLC), papillary renal cell carcinoma (RCC), and gastric cancer (GC); and Fruquintinib, an inhibitor for colorectal cancer (CRC), breast cancer, gastric cancer, microsatellite stable-CRC endometrial cancer (EMC), NSCLC, RCC, gastrointestinal, cervical, and solid tumors.