HUTCHMED (NASDAQ:HCM) Shares Gap Up – Should You Buy?

HUTCHMED (China) Limited (NASDAQ:HCM)’s share price gapped up prior to trading on Friday . The stock had previously closed at $18.00, but opened at $18.74. HUTCHMED shares last traded at $18.85, with a volume of 16,689 shares.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. The Goldman Sachs Group lifted their price objective on shares of HUTCHMED from $17.00 to $19.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. StockNews.com lowered HUTCHMED from a “buy” rating to a “hold” rating in a report on Thursday, July 18th.

HUTCHMED Stock Up 4.7 %

The company has a debt-to-equity ratio of 0.07, a current ratio of 2.81 and a quick ratio of 2.68. The company’s 50-day moving average is $18.61 and its 200 day moving average is $18.63.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of HCM. BNP Paribas Financial Markets raised its holdings in HUTCHMED by 54.9% in the 1st quarter. BNP Paribas Financial Markets now owns 42,926 shares of the company’s stock worth $721,000 after purchasing an additional 15,221 shares during the period. Russell Investments Group Ltd. boosted its stake in HUTCHMED by 70.5% during the first quarter. Russell Investments Group Ltd. now owns 18,179 shares of the company’s stock worth $304,000 after buying an additional 7,515 shares during the period. M&G Plc acquired a new position in shares of HUTCHMED in the 1st quarter valued at $4,458,000. Bellevue Group AG boosted its holdings in shares of HUTCHMED by 2.1% in the first quarter. Bellevue Group AG now owns 1,154,632 shares of the company’s stock valued at $19,398,000 after acquiring an additional 23,521 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. boosted its stake in shares of HUTCHMED by 8.6% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 61,887 shares of the company’s stock valued at $1,060,000 after buying an additional 4,877 shares in the last quarter. 8.82% of the stock is owned by institutional investors and hedge funds.

HUTCHMED Company Profile

HUTCHMED (China) Limited, together with its subsidiaries, discovers, develops, and commercializes targeted therapeutics and immunotherapies for cancer and immunological diseases in Hong Kong and internationally. The company develops Savolitinib for the treatment of non-small cell lung cancer (NSCLC), papillary renal cell carcinoma (RCC), and gastric cancer (GC); and Fruquintinib, an inhibitor for colorectal cancer (CRC), breast cancer, gastric cancer, microsatellite stable-CRC endometrial cancer (EMC), NSCLC, RCC, gastrointestinal, cervical, and solid tumors.