HUTCHMED (NASDAQ:HCM) Stock Rating Lowered by StockNews.com

StockNews.com cut shares of HUTCHMED (NASDAQ:HCM) from a buy rating to a hold rating in a report released on Monday.

Separately, The Goldman Sachs Group raised their target price on HUTCHMED from $17.00 to $19.00 and gave the company a “neutral” rating in a report on Thursday, August 1st.

HUTCHMED Stock Down 1.4 %

NASDAQ:HCM opened at $17.70 on Monday. HUTCHMED has a 52 week low of $11.93 and a 52 week high of $21.92. The stock’s fifty day moving average is $18.74 and its two-hundred day moving average is $18.61. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.68 and a current ratio of 2.81.

Institutional Trading of HUTCHMED

Several hedge funds have recently modified their holdings of HCM. Public Employees Retirement System of Ohio acquired a new stake in HUTCHMED in the third quarter valued at approximately $35,000. Blue Trust Inc. raised its holdings in shares of HUTCHMED by 638.2% in the 3rd quarter. Blue Trust Inc. now owns 3,536 shares of the company’s stock valued at $69,000 after purchasing an additional 3,057 shares in the last quarter. China Universal Asset Management Co. Ltd. lifted its position in shares of 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. Rhumbline Advisers lifted its position in shares of HUTCHMED by 8.1% during the 2nd quarter. Rhumbline Advisers now owns 7,553 shares of the company’s stock worth $129,000 after purchasing an additional 564 shares during the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new position in shares of HUTCHMED during the second quarter worth $213,000. 8.82% of the stock is currently owned by institutional investors and hedge funds.

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.