HUTCHMED (China) Limited Sponsored ADR (NASDAQ:HCM) Stock Holdings Cut by Allianz Asset Management GmbH

Key Points

• Allianz Asset Management GmbH reduced its holdings in HUTCHMED by 10.5%, now owning 1,004,539 shares valued at approximately $15.1 million.
• Other hedge funds have increased their stakes, with Barclays PLC boosting its holdings by 1,483.6% and the Public Employees Retirement System of Ohio increasing its stake by 49.6%.
• Stock analysts have mixed opinions on HUTCHMED, with HSBC downgrading the stock from "buy" to "hold" while Bank of America raised its target price and maintained a "buy" rating.

Allianz Asset Management GmbH decreased its stake in HUTCHMED (China) Limited Sponsored ADR (NASDAQ:HCM - Free Report) by 10.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,004,539 shares of the company's stock after selling 117,521 shares during the period. Allianz Asset Management GmbH owned approximately 0.58% of HUTCHMED worth $15,121,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Jane Street Group LLC grew its stake in HUTCHMED by 54.7% in the fourth quarter. Jane Street Group LLC now owns 97,470 shares of the company's stock worth $1,405,000 after purchasing an additional 34,473 shares in the last quarter. Renaissance Technologies LLC grew its position in shares of HUTCHMED by 18.4% in the 4th quarter. Renaissance Technologies LLC now owns 188,539 shares of the company's stock worth $2,717,000 after acquiring an additional 29,239 shares in the last quarter. Marshall Wace LLP acquired a new position in shares of HUTCHMED in the 4th quarter worth approximately $261,000. OLD Mission Capital LLC bought a new stake in shares of HUTCHMED in the 4th quarter valued at approximately $230,000. Finally, Bank of America Corp DE lifted its stake in HUTCHMED by 40.4% during the fourth quarter. Bank of America Corp DE now owns 22,723 shares of the company's stock worth $327,000 after purchasing an additional 6,540 shares during the last quarter. Hedge funds and other institutional investors own 8.82% of the company's stock.

HUTCHMED Stock Performance

Shares of HUTCHMED stock traded down $0.17 on Friday, reaching $17.61. 8,848 shares of the company were exchanged, compared to its average volume of 55,714. The company has a quick ratio of 2.70, a current ratio of 2.83 and a debt-to-equity ratio of 0.08. The company's 50-day moving average is $15.59 and its two-hundred day moving average is $14.89. HUTCHMED has a 1-year low of $11.51 and a 1-year high of $21.50.

Wall Street Analysts Forecast Growth

HCM has been the topic of several research analyst reports. HSBC cut HUTCHMED from a "buy" rating to a "hold" rating in a research note on Tuesday, May 13th. Bank of America raised their price objective on HUTCHMED from $27.00 to $28.00 and gave the stock a "buy" rating in a research note on Tuesday. Finally, Wall Street Zen upgraded HUTCHMED from a "buy" rating to a "strong-buy" rating in a research note on Saturday.

About HUTCHMED

HUTCHMED (China) Ltd. is a holding company, which engages in the research and development, manufacture, and sale of pharmaceuticals and health-oriented consumer products. It operates through the Oncology/Immunology and Other Ventures segments. The Oncology/Immunology segment includes the discovery, development, and commercialization of targeted therapies and immunotherapies for the treatment of cancer and immunological diseases.