HUTCHMED (NASDAQ:HCM) Share Price Crosses Below Two Hundred Day Moving Average – Here’s What Happened

HUTCHMED (China) Limited Sponsored ADR (NASDAQ:HCM) shares passed below its 200-day moving average during trading on Friday. The stock has a 200-day moving average of $13.24 and traded as low as $13.14. HUTCHMED shares last traded at $13.15, with a volume of 33,492 shares traded.

Analyst Ratings Changes

HCM has been the subject of several research reports. HSBC upgraded shares of HUTCHMED from a “hold” rating to a “buy” rating in a research report on Tuesday, September 8th. Daiwa Securities Group upgraded shares of HUTCHMED from a “hold” rating to a “buy” rating in a research report on Thursday, September 3rd. The Goldman Sachs Group decreased their target price 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. Weiss Ratings raised shares of HUTCHMED from a “sell (d)” rating to a “sell (d+)” rating in a report on Tuesday, October 20th. Finally, Wall Street Zen upgraded HUTCHMED from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, HUTCHMED currently has a consensus rating of “Moderate Buy” and an average price target of $14.87.

HUTCHMED Trading Down 3.2%

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 business has a 50 day moving average price of $13.65 and a 200 day moving average price of $13.24.

HUTCHMED (NASDAQ:HCM) last issued its quarterly earnings results on Thursday, July 30th. The company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.09). The company had revenue of $139.14 million during the quarter, compared to analysts’ expectations of $304.16 million. As a group, equities research analysts predict that HUTCHMED will post 0.23 earnings per share for the current year.

Institutional Trading of HUTCHMED

Institutional investors and hedge funds have recently made changes to their positions in the business. XY Capital Ltd increased its stake in HUTCHMED by 115.2% in the 2nd quarter. XY Capital Ltd now owns 104,130 shares of the company’s stock worth $1,120,000 after buying an additional 55,736 shares during the period. Janney Montgomery Scott LLC bought a new stake in HUTCHMED during the 1st quarter valued at about $365,000. Crossmark Global Holdings Inc. boosted its position in HUTCHMED by 25.0% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 106,185 shares of the company’s stock valued at $1,553,000 after buying an additional 21,270 shares during the period. Finally, Amundi boosted its position in HUTCHMED by 4.0% in the 1st quarter. Amundi now owns 232,246 shares of the company’s stock valued at $3,474,000 after buying an additional 8,916 shares during the period. 8.82% of the stock is currently owned by institutional investors.

HUTCHMED Company Profile

HUTCHMED (NASDAQ:HCM) is a biopharmaceutical company focused on discovering, developing and commercializing medicines for cancer and other serious diseases. The company combines research and development capabilities in China with international development and commercial operations, serving patients and healthcare providers in China, the United States, Europe and other global markets.

HUTCHMED’s oncology portfolio includes fruquintinib, a targeted therapy for certain patients with metastatic colorectal cancer.