Berkley W R Corp Purchases 99,480 Shares of HCM Acquisition Corp $HCMA

Key Points

• Berkley W R Corp increased its HCM Acquisition stake by 34.4% in the first quarter, adding 99,480 shares and bringing its holdings to 388,407 shares, worth approximately $3.9 million.
• Other institutional investors also initiated positions, but hedge funds and institutions collectively own just 11.79% of HCMA.
• HCMA shares opened at $10.31 and remain near their recent range, while analyst sentiment is bearish: Weiss Ratings upgraded the stock only from “sell (e+)” to “sell (d-),” and the average analyst rating remains Sell.

Berkley W R Corp boosted its position in shares of HCM Acquisition Corp (NASDAQ:HCMA - Free Report) by 34.4% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 388,407 shares of the company's stock after purchasing an additional 99,480 shares during the quarter. Berkley W R Corp owned about 2.75% of HCM Acquisition worth $3,915,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in HCMA. PenderFund Capital Management Ltd. bought a new stake in shares of HCM Acquisition in the 4th quarter valued at about $72,000. Fort Baker Capital Management LP bought a new position in shares of HCM Acquisition during the third quarter valued at approximately $101,000. ABC Arbitrage SA purchased a new position in HCM Acquisition during the fourth quarter valued at approximately $201,000. Millennium Management LLC purchased a new position in HCM Acquisition during the third quarter valued at approximately $202,000. Finally, JPMorgan Chase & Co. bought a new position in HCM Acquisition in the third quarter worth approximately $251,000. 11.79% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings upgraded HCM Acquisition from a "sell (e+)" rating to a "sell (d-)" rating in a report on Monday, June 1st. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock has an average rating of "Sell".

HCM Acquisition Trading Up 0.3%

HCM Acquisition stock opened at $10.31 on Monday. The stock has a 50-day moving average of $10.27 and a two-hundred day moving average of $10.18. HCM Acquisition Corp has a one year low of $10.03 and a one year high of $10.49.

HCM Acquisition (NASDAQ:HCMA - Get Free Report) last issued its quarterly earnings results on Thursday, May 14th. The company reported $0.05 earnings per share for the quarter.

HCM Acquisition Profile

HCM Acquisition Corp. is a Delaware‐incorporated special purpose acquisition company (SPAC) that was formed to identify and complete a business combination with one or more target businesses. The company raised capital through its initial public offering and is listed on the Nasdaq under the ticker HCMA. As a blank check vehicle, HCM Acquisition holds its funds in trust until it consummates a qualifying merger, share exchange, asset acquisition or other business combination.

The SPAC is sponsored by affiliates of Healthcare Capital Management LLC, a Los Angeles‐based investment firm with experience in healthcare and life sciences investing.

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