HUTCHMED (NASDAQ:HCM) Shares Gap Down – Here’s What Happened

HUTCHMED (China) Limited Sponsored ADR (NASDAQ:HCM)’s stock price gapped down before the market opened on Wednesday . The stock had previously closed at $10.83, but opened at $10.39. HUTCHMED shares last traded at $10.3790, with a volume of 1,551 shares trading hands.

Analysts Set New Price Targets

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

HUTCHMED Trading Up 1.6%

The company has a debt-to-equity ratio of 0.05, a quick ratio of 4.83 and a current ratio of 4.96. The company has a 50 day simple moving average of $12.71 and a two-hundred day simple moving average of $13.82.

Hedge Funds Weigh In On HUTCHMED

Several hedge funds have recently bought and sold shares of the business. Goldman Sachs Group Inc. increased its stake in HUTCHMED by 8.5% in the first quarter. Goldman Sachs Group Inc. now owns 93,919 shares of the company’s stock worth $1,413,000 after purchasing an additional 7,342 shares during the period. Jane Street Group LLC boosted its stake in shares of HUTCHMED by 128.0% during the first quarter. Jane Street Group LLC now owns 222,241 shares of the company’s stock valued at $3,343,000 after purchasing an additional 124,771 shares during the period. Ameriprise Financial Inc. boosted its stake in shares of HUTCHMED by 4.7% during the second quarter. Ameriprise Financial Inc. now owns 15,519 shares of the company’s stock valued at $234,000 after purchasing an additional 698 shares during the period. Bank of America Corp DE grew its holdings 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 worth $310,000 after purchasing an additional 3,035 shares during the last quarter. Finally, BNP Paribas Financial Markets grew its holdings in shares of HUTCHMED by 19.7% in the second quarter. BNP Paribas Financial Markets now owns 25,046 shares of the company’s stock worth $377,000 after purchasing an additional 4,116 shares during the last quarter. Institutional investors own 8.82% of the company’s stock.

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.