HUTCHMED (NASDAQ:HCM) Shares Gap Down to $17.66

HUTCHMED (China) Limited (NASDAQ:HCM) shares gapped down before the market opened on Tuesday . The stock had previously closed at $17.66, but opened at $16.98. HUTCHMED shares last traded at $16.69, with a volume of 11,172 shares changing hands.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of HUTCHMED in a research report on Friday, January 12th. StockNews.com upgraded HUTCHMED from a “hold” rating to a “buy” rating in a research note on Wednesday, March 27th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $29.70.

HUTCHMED Price Performance

The business’s 50-day moving average is $15.99 and its 200-day moving average is $16.75. The company has a current ratio of 2.72, a quick ratio of 2.60 and a debt-to-equity ratio of 0.06.

Institutional Trading of HUTCHMED

Hedge funds have recently modified their holdings of the stock. Quantbot Technologies LP purchased a new position in HUTCHMED during the first quarter valued at approximately $44,000. China Universal Asset Management Co. Ltd. lifted its position in shares of HUTCHMED by 353.7% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 3,593 shares of the company’s stock valued at $65,000 after buying an additional 2,801 shares in the last quarter. US Bancorp DE grew its position in shares of HUTCHMED by 270.9% in the first quarter. US Bancorp DE now owns 3,687 shares of the company’s stock valued at $70,000 after purchasing an additional 2,693 shares during the period. Tower Research Capital LLC TRC boosted its holdings in HUTCHMED by 28.8% in the 3rd quarter. Tower Research Capital LLC TRC now owns 5,723 shares of the company’s stock worth $97,000 after buying an additional 1,279 shares during the last quarter. Finally, National Pension Service raised its holdings in shares of HUTCHMED by 429.1% during the second quarter. National Pension Service now owns 9,101 shares of the company’s stock valued at $115,000 after acquiring an additional 7,381 shares during the last quarter. Hedge funds and other institutional investors own 8.82% of the company’s stock.

About HUTCHMED

HUTCHMED (China) Limited, together with its subsidiaries, discovers, develops, and commercializes targeted therapeutics and immunotherapies for cancer and immunological diseases in Hong Kong and internationally. The company develops Savolitinib for the treatment of non-small cell lung cancer (NSCLC), papillary renal cell carcinoma (RCC), and gastric cancer (GC); and Fruquintinib, an inhibitor for colorectal cancer (CRC), breast cancer, gastric cancer, microsatellite stable-CRC endometrial cancer (EMC), NSCLC, RCC, gastrointestinal, cervical, and solid tumors.