HUTCHMED (NASDAQ:HCM) Sees Unusually-High Trading Volume – Here’s What Happened

HUTCHMED (China) Limited Sponsored ADR (NASDAQ:HCM) shares saw strong trading volume on Monday . 71,120 shares were traded during mid-day trading, an increase of 305% from the previous session’s volume of 17,540 shares.The stock last traded at $13.47 and had previously closed at $13.35.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of HUTCHMED in a report on Wednesday, October 8th. Wall Street Zen upgraded HUTCHMED from a “hold” rating to a “buy” rating in a research report on Sunday, November 16th. Zacks Research cut HUTCHMED from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 9th. Finally, Morgan Stanley downgraded shares of HUTCHMED from an “equal weight” rating to an “underweight” rating and reduced their target price for the company from $18.00 to $13.75 in a research note on Monday, September 22nd. One analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $20.88.

HUTCHMED Stock Up 0.3%

The company has a debt-to-equity ratio of 0.05, a current ratio of 4.65 and a quick ratio of 4.51. The company has a 50-day simple moving average of $14.48 and a 200-day simple moving average of $15.64.

Institutional Investors Weigh In On HUTCHMED

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Personalized Indexing Management LLC lifted its position in shares of HUTCHMED by 23.2% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 15,490 shares of the company’s stock worth $233,000 after purchasing an additional 2,916 shares in the last quarter. Ameriprise Financial Inc. increased its stake in shares of HUTCHMED by 4.7% in the 2nd quarter. Ameriprise Financial Inc. now owns 15,519 shares of the company’s stock valued at $234,000 after buying an additional 698 shares during the period. Vident Advisory LLC raised its position in shares of HUTCHMED by 78.3% during the first quarter. Vident Advisory LLC now owns 19,728 shares of the company’s stock worth $297,000 after acquiring an additional 8,664 shares during the last quarter. Bank of America Corp DE lifted its stake in shares of HUTCHMED by 17.3% during the second quarter. Bank of America Corp DE now owns 20,582 shares of the company’s stock valued at $310,000 after acquiring an additional 3,035 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in HUTCHMED by 34.2% in the third quarter. Dimensional Fund Advisors LP now owns 21,721 shares of the company’s stock valued at $342,000 after acquiring an additional 5,538 shares during the last quarter. Institutional investors and hedge funds own 8.82% of the company’s stock.

About HUTCHMED

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.