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

Shares of HUTCHMED (China) Limited (NASDAQ:HCM) gapped up prior to trading on Wednesday . The stock had previously closed at $17.38, but opened at $18.29. HUTCHMED shares last traded at $18.47, with a volume of 22,661 shares trading hands.

Wall Street Analyst Weigh In

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

HUTCHMED Stock Performance

The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.68 and a current ratio of 2.81. The business has a 50-day moving average of $18.87 and a two-hundred day moving average of $18.52.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Rhumbline Advisers raised 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 buying an additional 564 shares during the last quarter. Vanguard Personalized Indexing Management LLC boosted its stake in HUTCHMED by 9.7% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 13,216 shares of the company’s stock worth $226,000 after purchasing an additional 1,168 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new stake in HUTCHMED in the 3rd quarter worth approximately $35,000. China Universal Asset Management Co. Ltd. grew its position in HUTCHMED by 63.7% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 5,966 shares of the company’s stock worth $117,000 after purchasing an additional 2,321 shares during the last quarter. Finally, Blue Trust Inc. raised its holdings in shares of HUTCHMED by 638.2% in the third quarter. Blue Trust Inc. now owns 3,536 shares of the company’s stock worth $69,000 after buying an additional 3,057 shares during the last quarter. Hedge funds and other 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.