Trading was light with 74K shares changing hands by the end of trading on Tuesday. Overall, volume was down 17.26% under the stocks normal daily volume. Investors are a little more bullish on the company looking at the fall in short interest. The stock had a fall in short interest of -10.53% as of October 13, 2017 from the last reporting period. Short shares fell from 156,254 to 139,808 over that period.
A few notable investment firms have updated their holdings. Renaissance Technologies LLC augmented its ownership by buying 45,000 shares an increase of 145.2% from 03/31/2017 to 06/30/2017. Renaissance Technologies LLC claims 76,000 shares with a value of $1,772,000. The value of the position overall is up by 186.7%. Tower Research Capital LLC (trc) reduced its position by shedding 100 shares a decrease of 50.0% as of 06/30/2017. Tower Research Capital LLC (trc) owns 100 shares valued at $2,000. The total value of its holdings decreased 50.0%.
Folger Hill Asset Management Lp bolstered its investment by buying 10,400 shares an increase of 24.1%. Folger Hill Asset Management Lp now holds 53,570 shares worth $1,249,000. The value of the position overall is up by 45.1%. Baillie Gifford & Co grew its stake by buying 18,057 shares an increase of 84.0% in the quarter. Baillie Gifford & Co currently owns 39,554 shares worth $1,079,000. The total value of its holdings increased 115.4%.
On October 17 Canaccord Genuity held the company rating at “Buy” but moved up the price target from $20.00 to $38.00.
Hutchison China MediTech Limited engages in the research, development, manufacture, and sale of pharmaceuticals and health-related consumer products primarily in the People’s Republic of China. It operates through Innovation Platform and Commercial Platform segments. The company provides drug research and development services; and develops, manufactures, distributes, markets, and sells prescription and over-the-counter pharmaceutical products, and health-related consumer products under the Bai Yun Shan and Shang Yao brands. It also develops clinical drug candidates, including AZD6094 that is in Phase Ib clinical trial for treating non-small cell lung and gastric cancer; Fruquintinib, which is in Phase III clinical trial for the treatment of colorectal, non-small cell lung, and gastric cancer; Sulfatinib, a Phase Ib clinical trial product for neuroendocrine tumors and thyroid cancers; and HMPL-523, a preclinical stage product for the treatment of immunology, rheumatoid arthritis, lupus, and hematological cancers. In addition, the company is developing Epitinib for the treatment of non-small cell lung cancer; Theliatinib, a Phase I clinical trial product for the treatment of solid tumors; HMPL-689, a preclinical stage product for the treatment of hematologic cancers, autoimmunity and transplant organ rejection, and other related inflammation diseases; HMPL-004 that is in Phase III clinical trials for ulcerative colitis and Crohn’s disease; and HMPL-453 that is in preclinical stage for the treatment of solid tumors. Hutchison China MediTech Limited has strategic collaborations with multinational pharmaceutical and healthcare companies, including AstraZeneca AB (Publ); Eli Lilly and Company; Janssen Pharmaceuticals, Inc.; and NestlÃ© Health Science SA. The company was founded in 2000 and is based in Hong Kong, Hong Kong. Hutchison China MediTech Limited is a subsidiary of Hutchison Healthcare Holdings Limited..Advertisement