HUTCHMED (NASDAQ:HCM) Shares Gap Down – What’s Next?

HUTCHMED (China) Limited (NASDAQ:HCM) gapped down prior to trading on Tuesday . The stock had previously closed at $14.89, but opened at $14.50. HUTCHMED shares last traded at $14.35, with a volume of 8,301 shares changing hands.

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 Down 3.5 %

The business has a fifty day moving average of $14.77 and a 200-day moving average of $16.12. The company has a current ratio of 2.81, a quick ratio of 2.68 and a debt-to-equity ratio of 0.07.

Institutional Inflows and Outflows

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

HUTCHMED Company Profile

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.