HUTCHMED (NASDAQ:HCM) Trading Up 6.5%

HUTCHMED (China) Limited (NASDAQ:HCM)’s stock price was up 6.5% during trading on Thursday . The company traded as high as $21.00 and last traded at $20.73. Approximately 49,192 shares changed hands during mid-day trading, a decline of 60% from the average daily volume of 122,652 shares. The stock had previously closed at $19.47.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on HCM. StockNews.com raised HUTCHMED from a “hold” rating to a “buy” rating in a research note on Wednesday, March 27th. Cantor Fitzgerald restated an “overweight” rating on shares of HUTCHMED in a research report on Friday, January 12th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $29.70.

HUTCHMED Price Performance

The company has a quick ratio of 2.60, a current ratio of 2.72 and a debt-to-equity ratio of 0.06. The firm has a 50 day moving average price of $17.14 and a 200-day moving average price of $16.89.

Institutional Investors Weigh In On HUTCHMED

Several institutional investors have recently made changes to their positions in HCM. Hennion & Walsh Asset Management Inc. grew its holdings in HUTCHMED by 2.5% during the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 57,010 shares of the company’s stock valued at $958,000 after purchasing an additional 1,388 shares during the last quarter. China Universal Asset Management Co. Ltd. grew its stake in shares of HUTCHMED by 65.1% during the first quarter. China Universal Asset Management Co. Ltd. now owns 5,933 shares of the company’s stock valued at $100,000 after buying an additional 2,340 shares during the last quarter. Russell Investments Group Ltd. raised its holdings in shares of HUTCHMED by 70.5% in the first quarter. Russell Investments Group Ltd. now owns 18,179 shares of the company’s stock worth $304,000 after buying an additional 7,515 shares during the period. Baillie Gifford & Co. lifted its stake in shares of HUTCHMED by 7.2% during the 4th quarter. Baillie Gifford & Co. now owns 144,969 shares of the company’s stock worth $2,625,000 after acquiring an additional 9,694 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC purchased a new position in HUTCHMED during the 3rd quarter valued at $196,000. Institutional investors own 8.82% of the company’s stock.

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.