HUTCHMED (NASDAQ:HCM) Shares Up 8.3% – Here’s Why

HUTCHMED (China) Limited (NASDAQ:HCM)’s share price rose 8.3% during mid-day trading on Tuesday . The stock traded as high as $12.72 and last traded at $13.15. Approximately 48,337 shares were traded during mid-day trading, a decline of 55% from the average daily volume of 107,565 shares. The stock had previously closed at $12.14.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded HUTCHMED from a “hold” rating to a “buy” rating in a research note on Friday, March 21st.

HUTCHMED Stock Performance

The stock has a 50-day moving average price of $14.87 and a two-hundred day moving average price of $16.34. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.68 and a current ratio of 2.81.

Institutional Investors Weigh In On HUTCHMED

Large investors have recently added to or reduced their stakes in the stock. State Street Corp raised its position in HUTCHMED by 0.9% in the 3rd quarter. State Street Corp now owns 349,524 shares of the company’s stock worth $6,826,000 after purchasing an additional 3,078 shares during the period. Renaissance Technologies LLC lifted its position in shares of HUTCHMED by 18.4% in the 4th quarter. Renaissance Technologies LLC now owns 188,539 shares of the company’s stock worth $2,717,000 after purchasing an additional 29,239 shares during the period. Jane Street Group LLC increased its holdings in HUTCHMED by 54.7% during the fourth quarter. Jane Street Group LLC now owns 97,470 shares of the company’s stock valued at $1,405,000 after buying an additional 34,473 shares during the period. XY Capital Ltd purchased a new stake in HUTCHMED during the fourth quarter worth $673,000. Finally, ABC Arbitrage SA purchased a new position in shares of HUTCHMED in the 4th quarter valued at $500,000. 8.82% of the stock is owned by institutional investors.

About HUTCHMED

HUTCHMED (China) Ltd. is a holding company, which engages in the research and development, manufacture, and sale of pharmaceuticals and health-oriented consumer products. It operates through the Oncology/Immunology and Other Ventures segments. The Oncology/Immunology segment includes the discovery, development, and commercialization of targeted therapies and immunotherapies for the treatment of cancer and immunological diseases.