HUTCHMED (NASDAQ:HCM) Sees Strong Trading Volume – Should You Buy?

HUTCHMED (China) Limited Sponsored ADR (NASDAQ:HCM) shares saw strong trading volume on Tuesday . Approximately 57,449 shares traded hands during mid-day trading, an increase of 36% from the previous session’s volume of 42,364 shares.The stock last traded at $12.6160 and had previously closed at $12.56.

Analyst Ratings Changes

Several research firms recently commented on HCM. Wall Street Zen raised HUTCHMED from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Morgan Stanley set a $13.60 price target on HUTCHMED in a research note on Thursday, May 28th. Bank of America cut their price target on HUTCHMED from $20.00 to $17.00 and set a “buy” rating on the stock in a report on Tuesday, July 7th. Weiss Ratings downgraded shares of HUTCHMED from a “hold (c-)” rating to a “sell (d)” rating in a research report on Friday, July 31st. Finally, The Goldman Sachs Group lowered their price objective on shares of HUTCHMED from $16.00 to $14.00 and set a “neutral” rating for the company in a research note on Thursday, July 23rd. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $14.87.

HUTCHMED Trading Down 0.3%

The stock’s 50-day moving average price is $11.16 and its 200-day moving average price is $12.94. The company has a current ratio of 5.64, a quick ratio of 5.50 and a debt-to-equity ratio of 0.06.

HUTCHMED (NASDAQ:HCM) last issued its earnings results on Thursday, July 30th. The company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.14 by ($0.09). The firm had revenue of $139.14 million during the quarter, compared to the consensus estimate of $304.16 million. As a group, sell-side analysts expect that HUTCHMED will post 0.23 EPS for the current fiscal year.

Institutional Investors Weigh In On HUTCHMED

Several hedge funds and other institutional investors have recently modified their holdings of HCM. Goldman Sachs Group Inc. grew its position in HUTCHMED by 8.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 93,919 shares of the company’s stock valued at $1,413,000 after purchasing an additional 7,342 shares during the period. Renaissance Technologies LLC lifted its stake in shares of HUTCHMED by 3.0% in the fourth quarter. Renaissance Technologies LLC now owns 134,900 shares of the company’s stock valued at $1,798,000 after buying an additional 3,900 shares in the last quarter. Jane Street Group LLC grew its holdings 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 buying an additional 124,771 shares during the last quarter. M&G PLC grew its holdings in shares of HUTCHMED by 26.7% during the fourth quarter. M&G PLC now owns 259,033 shares of the company’s stock valued at $3,367,000 after buying an additional 54,601 shares during the last quarter. Finally, State Street Corp increased its position in shares of HUTCHMED by 1.2% during the fourth quarter. State Street Corp now owns 321,305 shares of the company’s stock worth $4,283,000 after acquiring an additional 3,801 shares in the last quarter. 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.