Zeal Asset Management Ltd cut its position in HUTCHMED (China) Limited (NASDAQ:HCM – Get Rating) by 44.8% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 421,140 shares of the company's stock after selling 341,789 shares during the period. HUTCHMED accounts for about 10.5% of Zeal Asset Management Ltd's investment portfolio, making the stock its 3rd biggest position. Zeal Asset Management Ltd owned 0.24% of HUTCHMED worth $5,075,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in HCM. Quantbot Technologies LP bought a new position in shares of HUTCHMED in the first quarter worth about $44,000. US Bancorp DE raised its stake in shares of HUTCHMED by 270.9% during the first quarter. US Bancorp DE now owns 3,687 shares of the company's stock worth $70,000 after buying an additional 2,693 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of HUTCHMED by 5.6% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,767 shares of the company's stock worth $317,000 after buying an additional 892 shares during the last quarter. Invesco Ltd. raised its stake in shares of HUTCHMED by 18.1% during the first quarter. Invesco Ltd. now owns 17,007 shares of the company's stock worth $322,000 after buying an additional 2,609 shares during the last quarter. Finally, Asset Management One Co. Ltd. raised its stake in shares of HUTCHMED by 10.9% during the second quarter. Asset Management One Co. Ltd. now owns 17,519 shares of the company's stock worth $221,000 after buying an additional 1,724 shares during the last quarter. 27.37% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

HCM has been the subject of a number of recent research reports. The Goldman Sachs Group boosted their price target on shares of HUTCHMED from $14.00 to $16.00 and gave the stock a "neutral" rating in a research note on Tuesday, August 9th. StockNews.com initiated coverage on shares of HUTCHMED in a research note on Wednesday, October 12th. They issued a "hold" rating for the company.

HUTCHMED Stock Up 2.3 %

About HUTCHMED

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HUTCHMED (China) Limited discovers, develops, and commercializes targeted therapeutics and immunotherapies for cancer and immunological diseases in HongKong and internationally. It operates in Oncology/Immunology and Other Ventures segments. The company develops Savolitinib, an inhibitor for non-small cell lung cancer (NSCLC), papillary and renal cell carcinoma, colorectal cancer (CRC), and gastric cancer (GC); and Fruquintinib, an inhibitor for CRC, breast cancer, GC, endometrial cancer (EMC), NSCLC, hepatocellular carcinoma, and gastrointestinal and solid tumors.

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