Movement Alert｜WuXi XDC Falls 3.06% in Regular Trading, Morgan Stanley Target Price Cut Continues to Weigh on Sentiment

Market Focus

Jul 08

On July 8, WuXi XDC (02268.HK) declined 3.06% in regular trading, trading at HK$58.65/share, with turnover of approximately HK$152 million.

The decline comes amid continued pressure following Morgan Stanley's recent report cutting the company's target price from HK$83 to HK$80, while lowering earnings forecasts for 2026 through 2030 by approximately 0-7%. The revision was primarily driven by the consolidation of Totient Bio (East Yao Pharma) Q2 financials, which introduced lower gross margins and additional financing costs, compounded by USD depreciation against RMB creating foreign exchange headwinds.

Within the Life Sciences Tools and Services sector, broad-based weakness persisted, with WuXi AppTec down 3.06%, WuXi Biologics down 1.85%, and GenScript Biotech down 1.56%. Despite Daiwa initiating coverage today with a HK$78 target price and naming the stock a top CXO pick, selling pressure in the sector remained dominant.

(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.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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