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

Shares of HUTCHMED (China) Limited (NASDAQ:HCM) gapped down before the market opened on Friday . The stock had previously closed at $18.43, but opened at $17.02. HUTCHMED shares last traded at $16.93, with a volume of 25,371 shares traded.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on HCM shares. The Goldman Sachs Group lifted their target price on HUTCHMED from $17.00 to $19.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. StockNews.com downgraded shares of HUTCHMED from a “buy” rating to a “hold” rating in a report on Monday, November 18th.

HUTCHMED Trading Down 8.2 %

The firm’s 50-day simple moving average is $18.87 and its 200 day simple moving average is $18.52. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.68 and a current ratio of 2.81.

Institutional Trading of HUTCHMED

Institutional investors and hedge funds have recently bought and sold shares of the stock. Rhumbline Advisers grew its stake in HUTCHMED by 8.1% in the second quarter. Rhumbline Advisers now owns 7,553 shares of the company’s stock valued at $129,000 after purchasing an additional 564 shares in the last quarter. Vanguard Personalized Indexing Management LLC grew its stake in shares of HUTCHMED by 9.7% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 13,216 shares of the company’s stock valued at $226,000 after buying an additional 1,168 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new position in HUTCHMED during the third quarter worth $35,000. China Universal Asset Management Co. Ltd. raised its position in HUTCHMED by 63.7% during the third quarter. China Universal Asset Management Co. Ltd. now owns 5,966 shares of the company’s stock worth $117,000 after acquiring an additional 2,321 shares in the last quarter. Finally, Blue Trust Inc. lifted its stake in HUTCHMED by 638.2% in the third quarter. Blue Trust Inc. now owns 3,536 shares of the company’s stock valued at $69,000 after acquiring an additional 3,057 shares during the last quarter. Institutional investors own 8.82% of the company’s stock.

About HUTCHMED

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.