On June 18, Akeso (9926.HK) rose 3.64% in regular trading, trading at HK$88.3 per share, with turnover of HK$273 million.
On the news front, an ongoing wave of share buybacks across the pharmaceutical industry, combined with the innovative drug sector rebounding from historically low valuations, provided dual support for the stock. The company's board previously approved a plan to deploy up to HK$200 million for open-market share purchases, while management proposed additional holdings of up to HK$50 million. These capital signals reflect confidence in the company's intrinsic value.
The stock had declined over 30% from its post-ASCO peak following the release of positive overall survival data from the HARMONi-6 study on June 1, as event-driven funds engaged in sustained profit-taking. Technical oversold conditions and industrial capital commitment are now jointly underpinning the rebound. Notably, over 100 pharmaceutical companies have disclosed buyback or share purchase plans in recent months, forming a sector-wide buyback trend amid valuations near historical lows.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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