HUTCHMED (NASDAQ:HCM) Shares Gap Down – Time to Sell?

Shares of HUTCHMED (China) Limited Sponsored ADR (NASDAQ:HCM) gapped down prior to trading on Wednesday . The stock had previously closed at $10.83, but opened at $10.39. HUTCHMED shares last traded at $10.3790, with a volume of 1,551 shares trading hands.

Wall Street Analysts Forecast Growth

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

HUTCHMED Stock Down 2.2%

The business’s 50 day moving average price is $12.92 and its 200-day moving average price is $13.88. The company has a debt-to-equity ratio of 0.05, a quick ratio of 4.83 and a current ratio of 4.96.

Institutional Trading of HUTCHMED

A number of hedge funds have recently modified their holdings of HCM. Blue Trust Inc. lifted its stake in shares of HUTCHMED by 131.5% during the 4th quarter. Blue Trust Inc. now owns 7,708 shares of the company’s stock worth $103,000 after buying an additional 4,378 shares during the last quarter. Ameriprise Financial Inc. increased its position in HUTCHMED by 4.7% during the second quarter. Ameriprise Financial Inc. now owns 15,519 shares of the company’s stock worth $234,000 after acquiring an additional 698 shares during the period. Bank of America Corp DE raised its stake in HUTCHMED by 17.3% in the 2nd quarter. Bank of America Corp DE now owns 20,582 shares of the company’s stock worth $310,000 after purchasing an additional 3,035 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in HUTCHMED by 34.2% in the 3rd quarter. Dimensional Fund Advisors LP now owns 21,721 shares of the company’s stock worth $342,000 after purchasing an additional 5,538 shares in the last quarter. Finally, Janney Montgomery Scott LLC acquired a new stake in HUTCHMED in the 1st quarter worth about $365,000. Institutional investors and hedge funds own 8.82% of the company’s stock.

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.