HUTCHMED (NASDAQ:HCM) Hits New 1-Year Low – Here’s What Happened

Shares of HUTCHMED (China) Limited Sponsored ADR (NASDAQ:HCM) reached a new 52-week low on Tuesday . The company traded as low as $10.63 and last traded at $10.7790, with a volume of 7730 shares changing hands. The stock had previously closed at $10.85.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on HCM shares. Morgan Stanley set a $13.60 price target on HUTCHMED in a report on Thursday, May 28th. Wall Street Zen downgraded HUTCHMED from a “buy” rating to a “hold” rating in a research report on Saturday, March 7th. Weiss Ratings downgraded HUTCHMED from a “hold (c)” rating to a “hold (c-)” rating in a research report on Friday, May 1st. Finally, Bank of America decreased their target price on HUTCHMED from $21.00 to $20.00 and set a “buy” rating for the company in a research report on Tuesday, March 10th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $16.80.

HUTCHMED Price Performance

The company has a debt-to-equity ratio of 0.05, a current ratio of 4.96 and a quick ratio of 4.83. The company has a 50-day moving average price of $13.41 and a two-hundred day moving average price of $14.03.

Hedge Funds Weigh In On HUTCHMED

Several hedge funds have recently made changes to their positions in the stock. State Street Corp grew its position in shares of HUTCHMED by 1.2% in the fourth 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 in the last quarter. M&G PLC grew its position in HUTCHMED by 26.7% during the fourth quarter. M&G PLC now owns 259,033 shares of the company’s stock worth $3,367,000 after buying an additional 54,601 shares in the last quarter. Amundi grew its position in HUTCHMED by 4.0% during the first quarter. Amundi now owns 232,246 shares of the company’s stock worth $3,474,000 after buying an additional 8,916 shares in the last quarter. Jane Street Group LLC lifted its stake 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 purchasing an additional 124,771 shares during the last quarter. Finally, UBS Group AG lifted its stake in HUTCHMED by 112.8% during the third quarter. UBS Group AG now owns 137,000 shares of the company’s stock worth $2,158,000 after purchasing an additional 72,614 shares during the last quarter. 8.82% of the stock is currently owned by hedge funds and other institutional investors.

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.