HUTCHMED (NASDAQ:HCM) Shares Pass Above Fifty Day Moving Average – Here’s Why

HUTCHMED (China) Limited Sponsored ADR (NASDAQ:HCM)’s stock price passed above its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $14.40 and traded as high as $14.87. HUTCHMED shares last traded at $14.76, with a volume of 5,329 shares.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Jefferies Financial Group raised shares of HUTCHMED to a “strong-buy” rating in a report on Monday, January 19th. Wall Street Zen raised shares of HUTCHMED from a “hold” rating to a “buy” rating in a research report on Sunday, November 16th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of HUTCHMED in a research note on Thursday, January 22nd. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, HUTCHMED has a consensus rating of “Hold” and a consensus target price of $20.88.

HUTCHMED Trading Up 0.1%

The company has a debt-to-equity ratio of 0.05, a current ratio of 4.65 and a quick ratio of 4.51. The company has a 50-day moving average price of $14.40 and a 200 day moving average price of $15.21.

Institutional Investors Weigh In On HUTCHMED

A number of institutional investors have recently added to or reduced their stakes in HCM. Ameriprise Financial Inc. lifted its holdings in shares of HUTCHMED by 4.7% in the second quarter. Ameriprise Financial Inc. now owns 15,519 shares of the company’s stock worth $234,000 after buying an additional 698 shares in the last quarter. M&G PLC increased its holdings in HUTCHMED by 0.4% in the 2nd quarter. M&G PLC now owns 259,617 shares of the company’s stock valued at $3,894,000 after acquiring an additional 924 shares during the last quarter. Bank of America Corp DE lifted its stake in HUTCHMED by 5.9% in the 3rd quarter. Bank of America Corp DE now owns 21,791 shares of the company’s stock worth $343,000 after purchasing an additional 1,209 shares in the last quarter. Crossmark Global Holdings Inc. boosted its holdings in shares of HUTCHMED by 3.3% during the 4th quarter. Crossmark Global Holdings Inc. now owns 52,476 shares of the company’s stock valued at $700,000 after purchasing an additional 1,680 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC boosted its holdings in shares of HUTCHMED by 12.1% during the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 17,363 shares of the company’s stock valued at $273,000 after purchasing an additional 1,873 shares during the last quarter. 8.82% of the stock is owned by hedge funds and other institutional investors.

HUTCHMED Company Profile

HUTCHMED (NASDAQ: HCM) is a fully integrated biopharmaceutical company focused on discovering, developing, manufacturing and commercializing targeted therapies and immunotherapies for the treatment of cancer and other diseases. The company leverages in-house capabilities in small-molecule chemistry, biologics engineering and translational medicine to advance candidates through all stages of development. HUTCHMED’s integrated model encompasses early discovery research, clinical development, regulatory filings and commercial launches, enabling seamless progression from laboratory to market.

HUTCHMED’s commercial portfolio includes several in-market oncology therapies approved in China, including fruquintinib for metastatic colorectal cancer, surufatinib for neuroendocrine tumors and savolitinib for non-small cell lung cancer.