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

HUTCHMED (China) Limited Sponsored ADR (NASDAQ:HCM)’s share price gapped down prior to trading on Friday . The stock had previously closed at $14.56, but opened at $13.78. HUTCHMED shares last traded at $14.0690, with a volume of 1,408 shares.

Analyst Ratings Changes

Several brokerages recently commented on HCM. Bank of America dropped their target price on shares of HUTCHMED from $21.00 to $20.00 and set a “buy” rating on the stock in a report on Tuesday, March 10th. Weiss Ratings reiterated a “hold (c)” rating on shares of HUTCHMED in a report on Thursday, January 22nd. Jefferies Financial Group raised HUTCHMED to a “strong-buy” rating in a research report on Monday, January 19th. Finally, Wall Street Zen downgraded HUTCHMED from a “buy” rating to a “hold” rating in a research report on Saturday, March 7th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $16.88.

HUTCHMED Stock Up 1.8%

The company’s 50 day moving average is $14.63 and its 200 day moving average is $14.64. The company has a debt-to-equity ratio of 0.05, a quick ratio of 4.83 and a current ratio of 4.96.

HUTCHMED (NASDAQ:HCM) last released its earnings results on Friday, March 6th. The company reported $0.01 EPS for the quarter, missing the consensus estimate of $2.50 by ($2.49). The company had revenue of $135.42 million for the quarter, compared to analysts’ expectations of $290.50 million. As a group, analysts forecast that HUTCHMED will post 0.41 earnings per share for the current fiscal year.

Hedge Funds Weigh In On HUTCHMED

Several large investors have recently bought and sold shares of the stock. Ameriprise Financial Inc. raised its stake in HUTCHMED by 4.7% during the 2nd quarter. Ameriprise Financial Inc. now owns 15,519 shares of the company’s stock valued at $234,000 after purchasing an additional 698 shares during the last quarter. Bank of America Corp DE raised its stake in HUTCHMED by 5.9% during the 3rd quarter. Bank of America Corp DE now owns 21,791 shares of the company’s stock valued at $343,000 after purchasing an additional 1,209 shares during the last quarter. Crossmark Global Holdings Inc. raised its stake in HUTCHMED by 3.3% during the 4th quarter. Crossmark Global Holdings Inc. now owns 52,476 shares of the company’s stock valued at $700,000 after purchasing an additional 1,680 shares during the last quarter. Vanguard Personalized Indexing Management LLC raised its stake in HUTCHMED by 12.1% during the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 17,363 shares of the company’s stock valued at $273,000 after purchasing an additional 1,873 shares during the last quarter. Finally, State Street Corp raised its stake in 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. 8.82% of the stock is currently 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.