HUTCHMED (NASDAQ:HCM) Stock Price Up 6.3% – Here’s Why

HUTCHMED (China) Limited (NASDAQ:HCM)’s share price rose 6.3% during trading on Friday . The company traded as high as $16.50 and last traded at $16.29. Approximately 70,518 shares were traded during mid-day trading, a decline of 18% from the average daily volume of 85,795 shares. The stock had previously closed at $15.33.

Analyst Ratings Changes

Separately, StockNews.com lowered shares of HUTCHMED from a “buy” rating to a “hold” rating in a research note on Monday, November 18th.

HUTCHMED Price Performance

The business’s 50 day moving average is $14.22 and its 200 day moving average is $16.90. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.81 and a quick ratio of 2.68.

Institutional Investors Weigh In On HUTCHMED

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio lifted its position in HUTCHMED by 49.6% in the 4th quarter. Public Employees Retirement System of Ohio now owns 2,710 shares of the company’s stock worth $39,000 after buying an additional 899 shares in the last quarter. Bank of America Corp DE lifted its position in HUTCHMED by 40.4% in the 4th quarter. Bank of America Corp DE now owns 22,723 shares of the company’s stock worth $327,000 after buying an additional 6,540 shares in the last quarter. Jane Street Group LLC lifted its position in HUTCHMED by 54.7% in the 4th quarter. Jane Street Group LLC now owns 97,470 shares of the company’s stock worth $1,405,000 after buying an additional 34,473 shares in the last quarter. Marshall Wace LLP purchased a new stake in HUTCHMED in the 4th quarter worth approximately $261,000. Finally, Barclays PLC lifted its position in HUTCHMED by 1,483.6% in the 4th quarter. Barclays PLC now owns 2,407 shares of the company’s stock worth $35,000 after buying an additional 2,255 shares in the last quarter. Hedge funds and other institutional investors own 8.82% of the company’s stock.

About HUTCHMED

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.