HUTCHMED (NASDAQ:HCM) Reaches New 1-Year Low – Here’s Why

HUTCHMED (China) Limited Sponsored ADR (NASDAQ:HCM) hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $10.40 and last traded at $10.5310, with a volume of 13101 shares trading hands. The stock had previously closed at $10.83.

Analysts Set New Price Targets

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

HUTCHMED Stock Up 1.5%

The firm’s 50-day moving average price is $12.82 and its 200-day moving average price is $13.85. The company has a quick ratio of 4.83, a current ratio of 4.96 and a debt-to-equity ratio of 0.05.

Institutional Trading of HUTCHMED

Large investors have recently added to or reduced their stakes in the stock. Blue Trust Inc. raised its position in HUTCHMED by 131.5% in the fourth quarter. Blue Trust Inc. now owns 7,708 shares of the company’s stock valued at $103,000 after purchasing an additional 4,378 shares during the period. Ameriprise Financial Inc. boosted its position in shares of HUTCHMED by 4.7% in the second quarter. Ameriprise Financial Inc. now owns 15,519 shares of the company’s stock worth $234,000 after buying an additional 698 shares during the period. Bank of America Corp DE grew its stake in shares of HUTCHMED by 17.3% in the second quarter. Bank of America Corp DE now owns 20,582 shares of the company’s stock valued at $310,000 after buying an additional 3,035 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of 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 buying an additional 5,538 shares in the last quarter. Finally, Janney Montgomery Scott LLC purchased a new stake in shares of HUTCHMED during the 1st quarter valued at about $365,000. 8.82% of the stock is currently owned by institutional investors and hedge funds.

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.