HUTCHMED (China) Limited (NASDAQ:HCM – Get Free Report)’s stock price gapped down before the market opened on Monday . The stock had previously closed at $18.46, but opened at $17.40. HUTCHMED shares last traded at $17.15, with a volume of 14,298 shares trading hands.
Wall Street Analyst Weigh In
Separately, StockNews.com upgraded HUTCHMED from a “hold” rating to a “buy” rating in a report on Monday, June 10th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, HUTCHMED has a consensus rating of “Moderate Buy” and an average price target of $29.70.
HUTCHMED Trading Down 9.5 %
The stock’s fifty day simple moving average is $18.81 and its 200-day simple moving average is $16.90. The company has a quick ratio of 2.60, a current ratio of 2.72 and a debt-to-equity ratio of 0.06.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently bought and sold shares of the company. Bellevue Group AG lifted its holdings in HUTCHMED by 2.1% in the first quarter. Bellevue Group AG now owns 1,154,632 shares of the company’s stock worth $19,398,000 after purchasing an additional 23,521 shares during the period. M&G Plc acquired a new stake in shares of HUTCHMED in the 1st quarter worth approximately $4,458,000. Hsbc Holdings PLC boosted its holdings in shares of HUTCHMED by 821.2% in the fourth quarter. Hsbc Holdings PLC now owns 206,544 shares of the company’s stock valued at $3,720,000 after acquiring an additional 184,123 shares in the last quarter. Baillie Gifford & Co. increased its stake in shares of HUTCHMED by 7.2% during the fourth quarter. Baillie Gifford & Co. now owns 144,969 shares of the company’s stock valued at $2,625,000 after acquiring an additional 9,694 shares during the period. Finally, Hennion & Walsh Asset Management Inc. increased its stake in shares of HUTCHMED by 2.5% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 57,010 shares of the company’s stock valued at $958,000 after acquiring an additional 1,388 shares during the period. Institutional investors own 8.82% of the company’s stock.
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.