HUTCHMED (China) Limited (NASDAQ:HCM) Position Reduced by Bellevue Group AG

Bellevue Group AG reduced its position in shares of HUTCHMED (China) Limited (NASDAQ:HCM) by 97.9% in the third quarter, HoldingsChannel.com reports. The firm owned 24,015 shares of the company’s stock after selling 1,125,142 shares during the period. Bellevue Group AG’s holdings in HUTCHMED were worth $469,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. M&G PLC lifted its holdings in shares of HUTCHMED by 98.1% in the third quarter. M&G PLC now owns 267,231 shares of the company’s stock valued at $5,345,000 after buying an additional 132,333 shares during the period. Renaissance Technologies LLC raised its position in HUTCHMED by 74.8% in the second quarter. Renaissance Technologies LLC now owns 131,300 shares of the company’s stock worth $2,248,000 after acquiring an additional 56,200 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in HUTCHMED by 99.0% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 48,724 shares of the company’s stock valued at $952,000 after acquiring an additional 24,245 shares during the last quarter. Crossmark Global Holdings Inc. bought a new position in shares of HUTCHMED during the 3rd quarter valued at about $328,000. Finally, Point72 Asset Management L.P. bought a new position in shares of HUTCHMED during the 2nd quarter valued at about $279,000. 8.82% of the stock is currently owned by institutional investors and hedge funds.

HUTCHMED Price Performance

Shares of NASDAQ HCM opened at $16.95 on Monday. The stock’s fifty day simple moving average is $18.86 and its 200 day simple moving average is $18.44. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.68 and a current ratio of 2.81. HUTCHMED has a 52-week low of $11.93 and a 52-week high of $21.92.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered shares of HUTCHMED from a “buy” rating to a “hold” rating in a research note on Monday, November 18th.

HUTCHMED Company 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.