On June 1, WuXi XDC rose 3.1% in regular trading, trading at HKD 55.4 per share, with trading volume of HKD 42.63 million, extending a rebound from prior sessions of weakness.
On the news front, the company disclosed that its professional trustee purchased 5.702 million shares on the open market between May 19 and May 29, representing approximately 0.45% of total issued shares, at a total cost of approximately HKD 327 million and an average purchase price of HKD 57.3 per share. All funds were sourced from the company's own financial resources. Combined with parent WuXi Biologics' previously announced buyback plan of up to USD 400 million, the WuXi group's aggregate buyback scale reaches USD 500 million. Guotai Junan International maintains an Overweight rating on the stock with a target price of HKD 84.38, citing strong growth prospects in the ADC pipeline. Within the Life Sciences Tools and Services sector, WuXi Biologics rose 5.64%, reflecting a broad recovery in sector sentiment.
(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.)
Comments