On October 2, AKESO declined 3.59% in regular trading to HK$104.2, with turnover of HK$137 million. The stock pulled back further following a sharp rally late last week driven by AstraZeneca's US$2 billion strategic investment in Summit Therapeutics, AKESO's overseas partner for its flagship PD-1/VEGF bispecific antibody ivonescimab (Iverday).

AKESO surged 15.54% on September 29 after the AstraZeneca-Summit deal was announced, closing at HK$106.3, before gaining another 2.26% on September 30 to HK$108.7. However, profit-taking pressure has been evident since, with southbound funds reducing positions at elevated levels. The broader Biotechnology sector saw significant selling pressure, with peers including Remegen down 7.91%, BeiOne Medicines down 6.65%, 3SBio down 5.97%, SKB Bio down 5.71%, and Innovent Bio down 4.95%.

While multiple investment banks — including Nomura (target HK$138.29), CICC (target HK$130), Citi (target HK$171), and Jefferies (target HK$226) — maintain Buy ratings following ivonescimab's strong HARMONi-2 overall survival data and the AstraZeneca endorsement, near-term price action reflects typical consolidation after an outsized rally amid sector-wide weakness.

(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.)