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 report on Monday. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $29.70.

HUTCHMED Trading Down 2.8 %

The company has a debt-to-equity ratio of 0.06, a current ratio of 2.72 and a quick ratio of 2.60. The stock has a 50-day moving average of $17.80 and a 200-day moving average of $17.02.

Institutional Investors Weigh In On HUTCHMED

Institutional investors and hedge funds have recently made changes to their positions in the business. China Universal Asset Management Co. Ltd. increased its stake in HUTCHMED by 353.7% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 3,593 shares of the company’s stock valued at $65,000 after acquiring an additional 2,801 shares during the last quarter. Vanguard Personalized Indexing Management LLC bought a new position in HUTCHMED in the third quarter valued at $196,000. Russell Investments Group Ltd. increased its stake in HUTCHMED by 70.5% in the first quarter. Russell Investments Group Ltd. now owns 18,179 shares of the company’s stock valued at $304,000 after acquiring an additional 7,515 shares during the last quarter. Hsbc Holdings PLC bought a new position in HUTCHMED in the third quarter valued at $380,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of HUTCHMED during the third quarter valued at about $444,000. 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.