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

Shares of HUTCHMED (China) Limited Sponsored ADR (NASDAQ:HCM) gapped up prior to trading on Wednesday . The stock had previously closed at $13.89, but opened at $14.38. HUTCHMED shares last traded at $14.46, with a volume of 8,122 shares trading hands.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on HCM. Jefferies Financial Group upgraded shares of HUTCHMED to a “strong-buy” rating in a research note on Monday, January 19th. Wall Street Zen lowered HUTCHMED from a “buy” rating to a “hold” rating in a report on Saturday, March 7th. Weiss Ratings reissued a “hold (c)” rating on shares of HUTCHMED in a research report on Thursday, January 22nd. Finally, Bank of America decreased their price target on HUTCHMED from $21.00 to $20.00 and set a “buy” rating for the company in a research note on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, HUTCHMED presently has an average rating of “Hold” and an average price target of $16.88.

HUTCHMED Trading Down 1.5%

The firm’s 50 day moving average price is $14.77 and its two-hundred day moving average price is $14.92. 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 announced its quarterly earnings results on Thursday, March 5th. The company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $2.50 by ($2.49). The business had revenue of $135.42 million during the quarter, compared to analysts’ expectations of $290.50 million. Research analysts expect that HUTCHMED will post 0.16 EPS for the current fiscal year.

Hedge Funds Weigh In On HUTCHMED

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HCM. ABN Amro Investment Solutions acquired a new stake in shares of HUTCHMED during the 2nd quarter worth about $962,000. Tema Etfs LLC acquired a new position in HUTCHMED in the 2nd quarter valued at about $641,000. M&G PLC grew its stake in HUTCHMED by 0.4% in the 2nd quarter. M&G PLC now owns 259,617 shares of the company’s stock valued at $3,894,000 after buying an additional 924 shares during the last quarter. Amundi raised its holdings in HUTCHMED by 41.9% in the 3rd quarter. Amundi now owns 223,330 shares of the company’s stock valued at $3,620,000 after acquiring an additional 65,898 shares during the period. Finally, Jane Street Group LLC lifted its position in HUTCHMED by 128.0% during the first quarter. Jane Street Group LLC now owns 222,241 shares of the company’s stock worth $3,343,000 after acquiring an additional 124,771 shares during the last quarter. 8.82% of the stock is owned by institutional investors.

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.