HUTCHMED (NASDAQ:HCM) Shares Gap Down – Here’s What Happened

Shares of HUTCHMED (China) Limited Sponsored ADR (NASDAQ:HCM) gapped down before the market opened on Tuesday . The stock had previously closed at $16.79, but opened at $16.01. HUTCHMED shares last traded at $15.95, with a volume of 1,309 shares traded.

Analyst Ratings Changes

Several research analysts recently commented on HCM shares. Wall Street Zen cut HUTCHMED from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 14th. HSBC downgraded shares of HUTCHMED from a “buy” rating to a “hold” rating in a research note on Tuesday, May 13th.

HUTCHMED Stock Performance

The company has a debt-to-equity ratio of 0.08, a current ratio of 2.83 and a quick ratio of 2.70. The firm’s 50 day simple moving average is $14.56 and its 200-day simple moving average is $14.74.

Institutional Investors Weigh In On HUTCHMED

A number of institutional investors and hedge funds have recently modified their holdings of HCM. Barclays PLC grew its holdings in HUTCHMED by 1,483.6% during the 4th quarter. Barclays PLC now owns 2,407 shares of the company’s stock valued at $35,000 after buying an additional 2,255 shares during the last quarter. Public Employees Retirement System of Ohio lifted its holdings in HUTCHMED by 49.6% in the 4th quarter. Public Employees Retirement System of Ohio now owns 2,710 shares of the company’s stock valued at $39,000 after purchasing an additional 899 shares in the last quarter. Summit Trail Advisors LLC boosted its stake in shares of HUTCHMED by 7.7% during the 1st quarter. Summit Trail Advisors LLC now owns 14,094 shares of the company’s stock worth $212,000 after purchasing an additional 1,004 shares during the last quarter. OLD Mission Capital LLC purchased a new stake in shares of HUTCHMED during the fourth quarter worth about $230,000. Finally, Marshall Wace LLP purchased a new stake in shares of HUTCHMED during the fourth quarter worth about $261,000. Institutional investors and hedge funds 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.