HUTCHMED (NASDAQ:HCM) Shares Gap Down – Here’s What Happened

HUTCHMED (China) Limited Sponsored ADR (NASDAQ:HCM)’s stock price gapped down before the market opened on Wednesday . The stock had previously closed at $12.64, but opened at $12.30. HUTCHMED shares last traded at $12.51, with a volume of 9,636 shares.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on HCM. Wall Street Zen upgraded shares of HUTCHMED from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Weiss Ratings lowered shares of HUTCHMED from a “hold (c-)” rating to a “sell (d)” rating in a report on Friday, July 31st. Bank of America dropped their target price on shares of HUTCHMED from $20.00 to $17.00 and set a “buy” rating for the company in a research report on Tuesday, July 7th. Morgan Stanley set a $13.60 price target on HUTCHMED in a research note on Thursday, May 28th. Finally, The Goldman Sachs Group reduced their price target on HUTCHMED from $16.00 to $14.00 and set a “neutral” rating on the stock in a research report on Thursday, July 23rd. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $14.87.

HUTCHMED Trading Down 0.2%

The company’s fifty day simple moving average is $11.27 and its two-hundred day simple moving average is $12.89. The company has a quick ratio of 5.50, a current ratio of 5.64 and a debt-to-equity ratio of 0.06.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. lifted its holdings in shares of HUTCHMED by 8.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 93,919 shares of the company’s stock valued at $1,413,000 after purchasing an additional 7,342 shares in the last quarter. Jane Street Group LLC increased its stake in HUTCHMED by 128.0% during the 1st quarter. Jane Street Group LLC now owns 222,241 shares of the company’s stock worth $3,343,000 after purchasing an additional 124,771 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in HUTCHMED by 4.7% during the 2nd quarter. Ameriprise Financial Inc. now owns 15,519 shares of the company’s stock worth $234,000 after buying an additional 698 shares during the period. Bank of America Corp DE raised its holdings in shares of HUTCHMED by 17.3% during the second quarter. Bank of America Corp DE now owns 20,582 shares of the company’s stock worth $310,000 after acquiring an additional 3,035 shares during the period. Finally, BNP Paribas Financial Markets boosted its stake in HUTCHMED by 19.7% in the 2nd quarter. BNP Paribas Financial Markets now owns 25,046 shares of the company’s stock worth $377,000 after purchasing an additional 4,116 shares during the period. 8.82% of the stock is 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.