HUTCHMED (NASDAQ:HCM) Shares Gap Up to $12.13

HUTCHMED (China) Limited (NASDAQ:HCM – Get Rating)’s share price gapped up before the market opened on Thursday . The stock had previously closed at $12.13, but opened at $13.37. HUTCHMED shares last traded at $13.32, with a volume of 4,521 shares.

Analyst Ratings Changes

Several equities research analysts have weighed in on HCM shares. StockNews.com assumed coverage on HUTCHMED in a research report on Wednesday, October 12th. They issued a “hold” rating on the stock. The Goldman Sachs Group lifted their target price on HUTCHMED from $14.00 to $16.00 and gave the company a “neutral” rating in a research note on Tuesday, August 9th.

HUTCHMED Price Performance

The business has a 50-day simple moving average of $9.39 and a two-hundred day simple moving average of $11.15.

Institutional Trading of HUTCHMED

Several institutional investors and hedge funds have recently added to or reduced their stakes in HCM. Capital International Investors boosted its position in HUTCHMED by 0.6% during the 1st quarter. Capital International Investors now owns 9,105,103 shares of the company’s stock worth $173,532,000 after acquiring an additional 50,212 shares during the period. M&G Investment Management Ltd. boosted its stake in shares of HUTCHMED by 22.9% during the 3rd quarter. M&G Investment Management Ltd. now owns 8,577,437 shares of the company’s stock valued at $77,197,000 after buying an additional 1,600,209 shares during the period. Capital Group International Inc. CA grew its holdings in shares of HUTCHMED by 4.0% during the 1st quarter. Capital Group International Inc. CA now owns 4,191,161 shares of the company’s stock valued at $79,297,000 after acquiring an additional 161,161 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in shares of HUTCHMED by 1,096.7% in the second quarter. Goldman Sachs Group Inc. now owns 3,913,287 shares of the company’s stock worth $49,464,000 after acquiring an additional 3,586,271 shares during the last quarter. Finally, BlackRock Inc. boosted its position in HUTCHMED by 3.6% during the first quarter. BlackRock Inc. now owns 3,516,585 shares of the company’s stock valued at $66,534,000 after purchasing an additional 123,396 shares during the last quarter. 27.37% of the stock is owned by institutional investors and hedge funds.

About HUTCHMED

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HUTCHMED (China) Limited discovers, develops, and commercializes targeted therapeutics and immunotherapies for cancer and immunological diseases in HongKong and internationally. It operates in Oncology/Immunology and Other Ventures segments. The company develops Savolitinib, an inhibitor for non-small cell lung cancer (NSCLC), papillary and renal cell carcinoma, colorectal cancer (CRC), and gastric cancer (GC); and Fruquintinib, an inhibitor for CRC, breast cancer, GC, endometrial cancer (EMC), NSCLC, hepatocellular carcinoma, and gastrointestinal and solid tumors.