HUTCHMED (NASDAQ:HCM) Shares Gap Down to $17.66

HUTCHMED (China) Limited (NASDAQ:HCM)’s share price gapped down prior to trading on Tuesday . The stock had previously closed at $17.66, but opened at $16.98. HUTCHMED shares last traded at $16.69, with a volume of 11,172 shares.

Wall Street Analyst Weigh In

HCM has been the subject of a number of recent analyst reports. StockNews.com upgraded shares of HUTCHMED from a “hold” rating to a “buy” rating in a report on Wednesday, March 27th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of HUTCHMED in a research note on Friday, January 12th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, HUTCHMED currently has a consensus rating of “Moderate Buy” and a consensus target price of $29.70.

HUTCHMED Stock Performance

The firm has a 50-day moving average of $15.99 and a 200 day moving average of $16.75. The company has a current ratio of 2.72, a quick ratio of 2.60 and a debt-to-equity ratio of 0.06.

Institutional Investors Weigh In On HUTCHMED

Large investors have recently added to or reduced their stakes in the stock. Quantbot Technologies LP bought a new stake in shares of HUTCHMED in the first quarter worth $44,000. China Universal Asset Management Co. Ltd. grew its stake in shares of HUTCHMED by 353.7% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 3,593 shares of the company’s stock valued at $65,000 after purchasing an additional 2,801 shares during the period. US Bancorp DE grew its stake in shares of HUTCHMED by 270.9% during the 1st quarter. US Bancorp DE now owns 3,687 shares of the company’s stock valued at $70,000 after purchasing an additional 2,693 shares during the period. Tower Research Capital LLC TRC increased its position in shares of HUTCHMED by 28.8% during the 3rd quarter. Tower Research Capital LLC TRC now owns 5,723 shares of the company’s stock valued at $97,000 after purchasing an additional 1,279 shares during the last quarter. Finally, National Pension Service lifted its stake in shares of HUTCHMED by 429.1% in the 2nd quarter. National Pension Service now owns 9,101 shares of the company’s stock worth $115,000 after purchasing an additional 7,381 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.