HUTCHMED (NASDAQ:HCM) Stock Crosses Below Fifty Day Moving Average – Here’s Why

HUTCHMED (China) Limited Sponsored ADR (NASDAQ:HCM) passed below its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $11.83 and traded as low as $10.75. HUTCHMED shares last traded at $10.78, with a volume of 93,816 shares traded.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on HCM shares. Morgan Stanley set a $13.60 price target on shares of HUTCHMED in a report on Thursday, May 28th. Bank of America dropped their price objective on shares of HUTCHMED from $21.00 to $20.00 and set a “buy” rating on the stock in a report on Tuesday, March 10th. Wall Street Zen downgraded shares of HUTCHMED from a “buy” rating to a “hold” rating in a research report on Saturday, March 7th. Finally, Weiss Ratings lowered shares of HUTCHMED from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, HUTCHMED presently has a consensus rating of “Hold” and an average target price of $16.80.

HUTCHMED Price Performance

The company has a 50 day moving average price of $11.76 and a 200-day moving average price of $13.57. The company has a quick ratio of 4.83, a current ratio of 4.96 and a debt-to-equity ratio of 0.05.

Hedge Funds Weigh In On HUTCHMED

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. XY Capital Ltd raised its position in shares of HUTCHMED by 291.1% during the 3rd quarter. XY Capital Ltd now owns 52,757 shares of the company’s stock worth $831,000 after buying an additional 39,266 shares in the last quarter. Blue Trust Inc. lifted its stake in shares of HUTCHMED by 131.5% in the 4th quarter. Blue Trust Inc. now owns 7,708 shares of the company’s stock worth $103,000 after acquiring an additional 4,378 shares during the period. Janney Montgomery Scott LLC bought a new position in shares of HUTCHMED in the first quarter valued at approximately $365,000. Amundi boosted its holdings in shares of HUTCHMED by 4.0% in the first quarter. Amundi now owns 232,246 shares of the company’s stock valued at $3,474,000 after acquiring an additional 8,916 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its stake 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 acquiring an additional 698 shares during the period. Institutional investors 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.