HUTCHMED (NASDAQ:HCM) Shares Cross Below 50-Day Moving Average – Should You Sell?

HUTCHMED (China) Limited Sponsored ADR (NASDAQ:HCM) shares crossed below its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $11.83 and traded as low as $10.75. HUTCHMED shares last traded at $10.78, with a volume of 93,816 shares changing hands.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Weiss Ratings downgraded HUTCHMED from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday. 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, March 10th. Morgan Stanley set a $13.60 price target on HUTCHMED in a report on Thursday, May 28th. Finally, Wall Street Zen lowered HUTCHMED from a “buy” rating to a “hold” rating in a research note on Saturday, March 7th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, HUTCHMED presently has an average rating of “Hold” and a consensus price target of $16.80.

HUTCHMED Price Performance

The stock’s fifty day simple moving average is $11.83 and its 200-day simple moving average is $13.59. The company has a quick ratio of 4.83, a current ratio of 4.96 and a debt-to-equity ratio of 0.05.

Hedge Funds Weigh In On HUTCHMED

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Blue Trust Inc. lifted its position in HUTCHMED by 131.5% during the 4th quarter. Blue Trust Inc. now owns 7,708 shares of the company’s stock worth $103,000 after acquiring an additional 4,378 shares during the period. Ameriprise Financial Inc. grew its stake in HUTCHMED by 4.7% during the 2nd 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 last quarter. Bank of America Corp DE increased 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 valued at $310,000 after purchasing an additional 3,035 shares during the period. Dimensional Fund Advisors LP increased its holdings 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 purchasing an additional 5,538 shares during the period. Finally, Janney Montgomery Scott LLC purchased a new position in shares of HUTCHMED in the first quarter worth about $365,000. Hedge funds and other institutional investors 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.