HUTCHMED (NASDAQ:HCM) Shares Gap Down to $17.66

HUTCHMED (China) Limited (NASDAQ:HCM)’s stock price gapped down prior to trading on Tuesday . The stock had previously closed at $17.66, but opened at $16.98. HUTCHMED shares last traded at $16.69, with a volume of 11,172 shares traded.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on HCM shares. StockNews.com raised shares of HUTCHMED from a “hold” rating to a “buy” rating in a research report on Wednesday, March 27th. Cantor Fitzgerald reissued an “overweight” rating on shares of HUTCHMED in a research report on Friday, January 12th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $29.70.

HUTCHMED Price Performance

The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.60 and a current ratio of 2.72. The business’s 50 day simple moving average is $15.87 and its two-hundred day simple moving average is $16.75.

Institutional Trading of HUTCHMED

Large investors have recently made changes to their positions in the stock. Acadian Asset Management LLC purchased a new position in shares of HUTCHMED in the third quarter worth approximately $3,268,000. China Universal Asset Management Co. Ltd. boosted its holdings in shares of HUTCHMED by 353.7% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 3,593 shares of the company’s stock worth $65,000 after buying an additional 2,801 shares during the last quarter. Baillie Gifford & Co. boosted its holdings in shares of HUTCHMED by 7.2% in the fourth quarter. Baillie Gifford & Co. now owns 144,969 shares of the company’s stock worth $2,625,000 after buying an additional 9,694 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of HUTCHMED in the third quarter worth approximately $444,000. Finally, Hsbc Holdings PLC purchased a new position in shares of HUTCHMED in the third quarter worth approximately $380,000. 8.82% of the stock is currently owned by institutional investors.

HUTCHMED Company Profile

HUTCHMED (China) Limited, together with its subsidiaries, discovers, develops, and commercializes targeted therapeutics and immunotherapies for cancer and immunological diseases in Hong Kong and internationally. The company develops Savolitinib for the treatment of non-small cell lung cancer (NSCLC), papillary renal cell carcinoma (RCC), and gastric cancer (GC); and Fruquintinib, an inhibitor for colorectal cancer (CRC), breast cancer, gastric cancer, microsatellite stable-CRC endometrial cancer (EMC), NSCLC, RCC, gastrointestinal, cervical, and solid tumors.