HUTCHMED (NASDAQ:HCM) Trading Up 6.9% – Time to Buy?

HUTCHMED (China) Limited (NASDAQ:HCM) shares shot up 6.9% on Monday . The company traded as high as $14.75 and last traded at $14.67. 41,471 shares traded hands during trading, a decline of 62% from the average session volume of 107,935 shares. The stock had previously closed at $13.72.

Wall Street Analysts Forecast Growth

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

HUTCHMED Trading Up 9.4 %

The company has a fifty day moving average of $14.75 and a 200-day moving average of $16.14. The company has a quick ratio of 2.68, a current ratio of 2.81 and a debt-to-equity ratio of 0.07.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Jane Street Group LLC grew its stake in shares of HUTCHMED by 362.2% in the third quarter. Jane Street Group LLC now owns 62,997 shares of the company’s stock worth $1,305,000 after acquiring an additional 49,366 shares in the last quarter. State Street Corp increased its holdings in HUTCHMED by 0.9% during 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. ABC Arbitrage SA acquired a new stake in HUTCHMED in the 4th quarter valued at about $500,000. XY Capital Ltd purchased a new position in shares of HUTCHMED in the 4th quarter valued at about $673,000. Finally, Crossmark Global Holdings Inc. grew its position in shares of HUTCHMED by 10.7% during the fourth quarter. Crossmark Global Holdings Inc. now owns 18,591 shares of the company’s stock worth $268,000 after buying an additional 1,799 shares in the last quarter. Hedge funds and other institutional investors own 8.82% of the company’s stock.

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.