HUTCHMED (NASDAQ:HCM) Shares Gap Down to $21.55

HUTCHMED (China) Limited (NASDAQ:HCM)’s share price gapped down prior to trading on Thursday . The stock had previously closed at $21.55, but opened at $20.56. HUTCHMED shares last traded at $21.01, with a volume of 34,956 shares trading hands.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered HUTCHMED from a “buy” rating to a “hold” rating in a research note on Monday. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $29.70.

HUTCHMED Trading Down 2.8 %

The company has a fifty day simple moving average of $17.80 and a two-hundred day simple moving average of $17.02. The company has a current ratio of 2.72, a quick ratio of 2.60 and a debt-to-equity ratio of 0.06.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Bellevue Group AG grew its stake in HUTCHMED by 2.1% during the 1st quarter. Bellevue Group AG now owns 1,154,632 shares of the company’s stock worth $19,398,000 after buying an additional 23,521 shares during the last quarter. M&G Plc purchased a new position in HUTCHMED during the 1st quarter worth approximately $4,458,000. Russell Investments Group Ltd. grew its stake in HUTCHMED by 70.5% during the 1st 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 last quarter. BNP Paribas Financial Markets grew its stake in HUTCHMED by 54.9% during the 1st quarter. BNP Paribas Financial Markets now owns 42,926 shares of the company’s stock worth $721,000 after buying an additional 15,221 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. lifted its position in HUTCHMED by 65.1% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 5,933 shares of the company’s stock worth $100,000 after acquiring an additional 2,340 shares during the period. Hedge funds and other 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.