Allianz Asset Management GmbH Decreases Stake in HUTCHMED (China) Limited Sponsored ADR (NASDAQ:HCM)

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

Other large investors have also recently made changes to their positions in the company. Barclays PLC increased its holdings in HUTCHMED by 1,483.6% in the 4th quarter. Barclays PLC now owns 2,407 shares of the company's stock worth $35,000 after acquiring an additional 2,255 shares during the last quarter. Public Employees Retirement System of Ohio increased its holdings in HUTCHMED by 49.6% in the 4th quarter. Public Employees Retirement System of Ohio now owns 2,710 shares of the company's stock worth $39,000 after acquiring an additional 899 shares during the last quarter. Summit Trail Advisors LLC grew its holdings in HUTCHMED by 7.7% during the 1st quarter. Summit Trail Advisors LLC now owns 14,094 shares of the company's stock valued at $212,000 after buying an additional 1,004 shares in the last quarter. OLD Mission Capital LLC purchased a new position in HUTCHMED during the 4th quarter valued at about $230,000. Finally, Marshall Wace LLP purchased a new position in HUTCHMED during the 4th quarter valued at about $261,000. 8.82% of the stock is owned by hedge funds and other institutional investors.

HUTCHMED Price Performance

NASDAQ:HCM traded up $1.14 during mid-day trading on Tuesday, reaching $19.12. The stock had a trading volume of 57,288 shares, compared to its average volume of 85,328. The firm has a 50 day moving average price of $15.68 and a two-hundred day moving average price of $14.90. HUTCHMED has a one year low of $11.51 and a one year high of $21.50. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.70 and a current ratio of 2.83.

Analyst Ratings Changes

A number of research firms have weighed in on HCM. Wall Street Zen raised HUTCHMED from a "buy" rating to a "strong-buy" rating in a report on Saturday. HSBC lowered HUTCHMED from a "buy" rating to a "hold" rating in a report on Tuesday, May 13th. Finally, Bank of America lifted their target price on HUTCHMED from $27.00 to $28.00 and gave the company a "buy" rating in a report on Tuesday, July 22nd.

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.