On July 30, WUXI APPTEC fell 3.03% in regular trading, trading at 153.7 HKD/share, with turnover of HKD 186 million. The decline came amid a broad CXO sector selloff compounded by notable institutional de-risking ahead of the company's upcoming interim results announcement.
The entire CXO sector faced significant selling pressure, with peers WUXI XDC down 4.81%, WUXI BIO down 4.11%, and INSILICO down 3.17%. On the institutional front, prominent fund manager Ge Lan's China Europe Healthcare Fund reduced its position by 6.3656 million shares in Q2, while FMR LLC cut its H-share stake from 9.17% to 8.83% on July 21. Meanwhile, the company's board is scheduled to convene on August 3 to review unaudited interim results and consider an interim dividend, prompting short-term capital to lock in gains ahead of the earnings release.
Despite near-term selling pressure, the company recently stated its fundamentals remain solid, expressing confidence in meeting full-year guidance. Multiple brokerages maintain buy ratings with target prices ranging up to 190 HKD.
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