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

HUTCHMED (China) Limited Sponsored ADR (NASDAQ:HCM) shares saw strong trading volume on Tuesday . 57,449 shares changed hands 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.

Wall Street Analyst Weigh In

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

HUTCHMED Stock Performance

The company has a current ratio of 5.64, a quick ratio of 5.50 and a debt-to-equity ratio of 0.06. The firm’s fifty day moving average is $11.16 and its two-hundred day moving average is $12.94.

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

Institutional Trading of HUTCHMED

A number of institutional investors and hedge funds have recently modified their holdings of HCM. Amundi lifted its holdings in HUTCHMED by 4.0% during the first quarter. Amundi now owns 232,246 shares of the company’s stock worth $3,474,000 after acquiring an additional 8,916 shares during the period. Janney Montgomery Scott LLC bought a new position in HUTCHMED in the 1st quarter valued at $365,000. State Street Corp increased its position in shares of HUTCHMED by 1.2% during the 4th quarter. State Street Corp now owns 321,305 shares of the company’s stock valued at $4,283,000 after purchasing an additional 3,801 shares during the last quarter. Renaissance Technologies LLC increased its position in shares of HUTCHMED by 3.0% during the 4th quarter. Renaissance Technologies LLC now owns 134,900 shares of the company’s stock valued at $1,798,000 after purchasing an additional 3,900 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of HUTCHMED by 157.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 55,969 shares of the company’s stock valued at $746,000 after purchasing an additional 34,248 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.