HUTCHMED (NASDAQ:HCM) Stock Price Up 6.5%

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

Wall Street Analysts Forecast Growth

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

HUTCHMED Price Performance

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

Institutional Trading of HUTCHMED

Hedge funds and other institutional investors have recently bought and sold shares of the business. Hsbc Holdings PLC grew its holdings in shares of HUTCHMED by 821.2% during the fourth quarter. Hsbc Holdings PLC now owns 206,544 shares of the company’s stock valued at $3,720,000 after buying an additional 184,123 shares during the last quarter. Acadian Asset Management LLC bought a new stake in HUTCHMED during the 3rd quarter worth approximately $3,268,000. Baillie Gifford & Co. lifted its holdings in shares of HUTCHMED by 7.2% in the fourth 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. grew its holdings in 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 buying an additional 1,388 shares in the last quarter. Finally, BNP Paribas Financial Markets raised its position in HUTCHMED by 54.9% in the 1st quarter. BNP Paribas Financial Markets now owns 42,926 shares of the company’s stock valued at $721,000 after buying an additional 15,221 shares during the last quarter. Institutional investors own 8.82% of the company’s stock.

About HUTCHMED

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.