HUTCHMED (NASDAQ:HCM) Sees Large Volume Increase – Here’s Why

HUTCHMED (China) Limited Sponsored ADR (NASDAQ:HCM) shares saw unusually-high trading volume on Friday . Approximately 30,445 shares traded hands during mid-day trading, a decline of 22% from the previous session’s volume of 39,123 shares.The stock last traded at $10.87 and had previously closed at $11.17.

Analysts Set New Price Targets

HCM has been the topic of several research reports. Bank of America cut their price objective on HUTCHMED from $21.00 to $20.00 and set a “buy” rating on the stock in a research note on Tuesday, March 10th. Wall Street Zen cut HUTCHMED from a “buy” rating to a “hold” rating in a research note on Saturday, March 7th. Morgan Stanley set a $13.60 price objective on HUTCHMED in a research note on Thursday, May 28th. Finally, Weiss Ratings cut HUTCHMED from a “hold (c)” rating to a “hold (c-)” rating in a research note on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $16.80.

HUTCHMED Stock Performance

The company has a 50 day simple moving average of $13.55 and a 200-day simple moving average of $14.08. The company has a current ratio of 4.96, a quick ratio of 4.83 and a debt-to-equity ratio of 0.05.

HUTCHMED (NASDAQ:HCM) last announced its quarterly earnings data on Friday, March 6th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.50 by ($2.49). The business had revenue of $135.42 million during the quarter, compared to analysts’ expectations of $290.50 million. As a group, equities research analysts predict that HUTCHMED will post 0.4 EPS for the current fiscal year.

Hedge Funds Weigh In On HUTCHMED

Institutional investors have recently made changes to their positions in the stock. Blue Trust Inc. grew its holdings in shares of HUTCHMED by 131.5% during the fourth quarter. Blue Trust Inc. now owns 7,708 shares of the company’s stock valued at $103,000 after purchasing an additional 4,378 shares during the last quarter. Ameriprise Financial Inc. grew its holdings in shares of HUTCHMED by 4.7% during the second quarter. Ameriprise Financial Inc. now owns 15,519 shares of the company’s stock valued at $234,000 after purchasing an additional 698 shares during the last quarter. Vanguard Personalized Indexing Management LLC grew its holdings in shares of HUTCHMED by 12.1% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 17,363 shares of the company’s stock valued at $273,000 after purchasing an additional 1,873 shares during the last quarter. Bank of America Corp DE grew its holdings in shares of HUTCHMED by 17.3% during the second quarter. Bank of America Corp DE now owns 20,582 shares of the company’s stock valued at $310,000 after purchasing an additional 3,035 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of HUTCHMED by 34.2% during the third quarter. Dimensional Fund Advisors LP now owns 21,721 shares of the company’s stock valued at $342,000 after purchasing an additional 5,538 shares during the last quarter. 8.82% of the stock is owned by institutional investors.

HUTCHMED Company Profile

HUTCHMED (NASDAQ: HCM) is a fully integrated biopharmaceutical company focused on discovering, developing, manufacturing and commercializing targeted therapies and immunotherapies for the treatment of cancer and other diseases. The company leverages in-house capabilities in small-molecule chemistry, biologics engineering and translational medicine to advance candidates through all stages of development. HUTCHMED’s integrated model encompasses early discovery research, clinical development, regulatory filings and commercial launches, enabling seamless progression from laboratory to market.

HUTCHMED’s commercial portfolio includes several in-market oncology therapies approved in China, including fruquintinib for metastatic colorectal cancer, surufatinib for neuroendocrine tumors and savolitinib for non-small cell lung cancer.