HUTCHMED (NASDAQ:HCM) Sees Unusually-High Trading Volume – Here’s Why

Shares of HUTCHMED (China) Limited Sponsored ADR (NASDAQ:HCM) saw strong trading volume on Tuesday . Approximately 57,449 shares were traded during trading, an increase of 36% from the previous session’s volume of 42,364 shares.The stock last traded at $12.6160 and had previously closed at $12.56.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Bank of America decreased their price objective on HUTCHMED from $20.00 to $17.00 and set a “buy” rating for the company in a report on Tuesday, July 7th. Morgan Stanley set a $13.60 price target on HUTCHMED in a research report on Thursday, May 28th. Wall Street Zen upgraded shares of HUTCHMED from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. The Goldman Sachs Group cut their price objective on shares of HUTCHMED from $16.00 to $14.00 and set a “neutral” rating on the stock in a research report on Thursday, July 23rd. Finally, Weiss Ratings downgraded shares of HUTCHMED from a “hold (c-)” rating to a “sell (d)” rating in a research report on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $14.87.

HUTCHMED Trading Down 0.4%

The company has a debt-to-equity ratio of 0.06, a quick ratio of 5.50 and a current ratio of 5.64. The company has a 50-day simple moving average of $11.23 and a two-hundred day simple moving average of $12.90.

HUTCHMED (NASDAQ:HCM) last released its earnings results on Thursday, July 30th. The company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.09). The company had revenue of $139.14 million for the quarter, compared to analyst estimates of $304.16 million. Research analysts forecast that HUTCHMED will post 0.23 EPS for the current fiscal year.

Institutional Investors Weigh In On HUTCHMED

Several hedge funds have recently bought and sold shares of the company. Ameriprise Financial Inc. grew its holdings in HUTCHMED by 4.7% during the second quarter. Ameriprise Financial Inc. now owns 15,519 shares of the company’s stock worth $234,000 after purchasing an additional 698 shares during the period. Bank of America Corp DE lifted its position in shares of HUTCHMED by 17.3% in the second quarter. Bank of America Corp DE now owns 20,582 shares of the company’s stock valued at $310,000 after buying an additional 3,035 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of HUTCHMED by 34.2% during the 3rd quarter. Dimensional Fund Advisors LP now owns 21,721 shares of the company’s stock worth $342,000 after acquiring an additional 5,538 shares during the period. Janney Montgomery Scott LLC acquired a new position in shares of HUTCHMED during the 1st quarter worth approximately $365,000. Finally, BNP Paribas Financial Markets increased its holdings in shares of HUTCHMED by 19.7% during the 2nd quarter. BNP Paribas Financial Markets now owns 25,046 shares of the company’s stock worth $377,000 after acquiring an additional 4,116 shares during the last quarter. 8.82% of the stock is currently owned by institutional investors and hedge funds.

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.