HUTCHMED (NASDAQ:HCM) Shares Gap Up – What’s Next?

HUTCHMED (China) Limited (NASDAQ:HCM)’s share price gapped up before the market opened on Friday . The stock had previously closed at $13.32, but opened at $13.99. HUTCHMED shares last traded at $14.21, with a volume of 21,761 shares.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded HUTCHMED from a “buy” rating to a “hold” rating in a research report on Monday, November 18th.

HUTCHMED Stock Up 6.4 %

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 stock has a 50-day moving average price of $15.96 and a 200 day moving average price of $17.68.

Institutional Investors Weigh In On HUTCHMED

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Public Employees Retirement System of Ohio purchased a new stake in HUTCHMED during the third quarter valued at about $35,000. Blue Trust Inc. grew its position in HUTCHMED by 638.2% during 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 period. China Universal Asset Management Co. Ltd. grew 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 valued at $117,000 after acquiring an additional 2,321 shares during the period. Rhumbline Advisers grew its position in HUTCHMED by 8.1% during the second quarter. Rhumbline Advisers now owns 7,553 shares of the company’s stock valued at $129,000 after acquiring an additional 564 shares during the period. Finally, Cubist Systematic Strategies LLC purchased a new stake in HUTCHMED during the second quarter valued at about $213,000. Hedge funds and other institutional investors own 8.82% of the company’s stock.

HUTCHMED Company Profile

HUTCHMED (China) Ltd. is a holding company, which engages in the research and development, manufacture, and sale of pharmaceuticals and health-oriented consumer products. It operates through the Oncology/Immunology and Other Ventures segments. The Oncology/Immunology segment includes the discovery, development, and commercialization of targeted therapies and immunotherapies for the treatment of cancer and immunological diseases.