HUTCHMED (NASDAQ:HCM) Shares Gap Up to $16.94

HUTCHMED (China) Limited (NASDAQ:HCM)’s share price gapped up before the market opened on Tuesday . The stock had previously closed at $16.94, but opened at $17.64. HUTCHMED shares last traded at $17.88, with a volume of 17,482 shares traded.

Analyst Ratings Changes

A number of brokerages recently commented on HCM. StockNews.com upgraded HUTCHMED from a “hold” rating to a “buy” rating in a report on Wednesday, March 27th. Cantor Fitzgerald reiterated an “overweight” rating on shares of HUTCHMED in a report on Friday, January 12th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $29.70.

HUTCHMED Stock Performance

The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.60 and a current ratio of 2.72. The business has a 50-day moving average price of $16.32 and a 200 day moving average price of $16.77.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in HCM. 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 during the last quarter. Vanguard Personalized Indexing Management LLC purchased a new stake in HUTCHMED during the 3rd quarter worth about $196,000. Hsbc Holdings PLC purchased a new stake in HUTCHMED during the 3rd quarter worth about $380,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in HUTCHMED during the 3rd quarter worth about $444,000. Finally, Hennion & Walsh Asset Management Inc. lifted its holdings in HUTCHMED by 89.5% during the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 51,735 shares of the company’s stock worth $876,000 after purchasing an additional 24,437 shares in 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.