HUTCHMED (NASDAQ:HCM) Shares Gap Up to $19.15

HUTCHMED (China) Limited (NASDAQ:HCM) shares gapped up prior to trading on Monday . The stock had previously closed at $19.15, but opened at $19.87. HUTCHMED shares last traded at $19.79, with a volume of 52,348 shares trading hands.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of HUTCHMED in a report on Friday, January 12th. StockNews.com raised shares of HUTCHMED from a “hold” rating to a “buy” rating in a research note on Wednesday, March 27th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $29.70.

HUTCHMED Stock Performance

The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.60 and a current ratio of 2.72. The stock has a 50 day simple moving average of $17.05 and a 200 day simple moving average of $16.87.

Hedge Funds Weigh In On HUTCHMED

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Hsbc Holdings PLC increased its stake in shares of HUTCHMED by 821.2% in the fourth quarter. Hsbc Holdings PLC now owns 206,544 shares of the company’s stock worth $3,720,000 after buying an additional 184,123 shares during the last quarter. Acadian Asset Management LLC bought a new stake in shares of HUTCHMED in the 3rd quarter worth about $3,268,000. Baillie Gifford & Co. raised its stake in shares of HUTCHMED by 7.2% in the 4th quarter. Baillie Gifford & Co. now owns 144,969 shares of the company’s stock valued at $2,625,000 after purchasing an additional 9,694 shares in the last quarter. Hennion & Walsh Asset Management Inc. lifted its position in shares of HUTCHMED by 2.5% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 57,010 shares of the company’s stock worth $958,000 after purchasing an additional 1,388 shares during the last quarter. Finally, BNP Paribas Financial Markets grew its stake in HUTCHMED by 54.9% in the first quarter. BNP Paribas Financial Markets now owns 42,926 shares of the company’s stock worth $721,000 after purchasing an additional 15,221 shares in the last quarter. 8.82% of the stock is owned by hedge funds and other institutional investors.

HUTCHMED Company Profile

HUTCHMED (China) Limited, together with its subsidiaries, discovers, develops, and commercializes targeted therapeutics and immunotherapies for cancer and immunological diseases in Hong Kong and internationally. The company develops Savolitinib for the treatment of non-small cell lung cancer (NSCLC), papillary renal cell carcinoma (RCC), and gastric cancer (GC); and Fruquintinib, an inhibitor for colorectal cancer (CRC), breast cancer, gastric cancer, microsatellite stable-CRC endometrial cancer (EMC), NSCLC, RCC, gastrointestinal, cervical, and solid tumors.