Allianz Asset Management GmbH Sells 80,000 Shares of HUTCHMED (China) Limited Sponsored ADR $HCM

Key Points

• Allianz Asset Management GmbH has reduced its stake in HUTCHMED (China) Limited by 8%, selling 80,000 shares, and now holds approximately 0.53% of the company.
• Several institutional investors, including Vanguard Personalized Indexing Management LLC and Goldman Sachs Group Inc., have increased their holdings in HUTCHMED, indicating diverse institutional interest.
• Recent analyst ratings for HUTCHMED show a mix of sentiments, with price targets ranging from $13.75 to $28.00, and an overall average target price of $20.88.

Allianz Asset Management GmbH lowered its stake in shares of HUTCHMED (China) Limited Sponsored ADR (NASDAQ:HCM - Free Report) by 8.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 924,539 shares of the company's stock after selling 80,000 shares during the quarter. Allianz Asset Management GmbH owned about 0.53% of HUTCHMED worth $13,914,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in the business. Vanguard Personalized Indexing Management LLC boosted its holdings in HUTCHMED by 23.2% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 15,490 shares of the company's stock worth $233,000 after acquiring an additional 2,916 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in HUTCHMED by 8.5% in the first quarter. Goldman Sachs Group Inc. now owns 93,919 shares of the company's stock worth $1,413,000 after acquiring an additional 7,342 shares in the last quarter. Jane Street Group LLC boosted its holdings in HUTCHMED by 128.0% in the first quarter. Jane Street Group LLC now owns 222,241 shares of the company's stock worth $3,343,000 after acquiring an additional 124,771 shares in the last quarter. Vident Advisory LLC boosted its holdings in HUTCHMED by 78.3% in the first quarter. Vident Advisory LLC now owns 19,728 shares of the company's stock worth $297,000 after acquiring an additional 8,664 shares in the last quarter. Finally, XY Capital Ltd boosted its holdings in HUTCHMED by 142.4% in the first quarter. XY Capital Ltd now owns 113,136 shares of the company's stock worth $1,702,000 after acquiring an additional 66,460 shares in the last quarter. Institutional investors and hedge funds own 8.82% of the company's stock.

HUTCHMED Stock Down 0.3%

Shares of HCM stock opened at $15.10 on Tuesday. The stock has a 50 day moving average of $15.94 and a 200 day moving average of $15.49. The company has a current ratio of 4.65, a quick ratio of 4.51 and a debt-to-equity ratio of 0.05. HUTCHMED has a twelve month low of $11.51 and a twelve month high of $21.50.

Analyst Ratings Changes

Several equities research analysts have weighed in on HCM shares. Bank of America raised their price target on HUTCHMED from $27.00 to $28.00 and gave the stock a "buy" rating in a report on Tuesday, July 22nd. Weiss Ratings restated a "hold (c)" rating on shares of HUTCHMED in a research note on Wednesday, October 8th. Zacks Research cut HUTCHMED from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, September 9th. Morgan Stanley cut HUTCHMED from an "equal weight" rating to an "underweight" rating and reduced their price objective for the stock from $18.00 to $13.75 in a research note on Monday, September 22nd. Finally, Wall Street Zen upgraded HUTCHMED from a "hold" rating to a "buy" rating in a research note on Saturday, October 11th. One research analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, HUTCHMED presently has an average rating of "Hold" and an average target price of $20.88.

HUTCHMED Company Profile

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.

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