HUTCHMED (NASDAQ:HCM) Shares Gap Down to $17.38

HUTCHMED (China) Limited (NASDAQ:HCM) gapped down prior to trading on Monday . The stock had previously closed at $17.38, but opened at $17.00. HUTCHMED shares last traded at $16.68, with a volume of 41,997 shares changing hands.

Analyst Ratings Changes

HCM has been the topic of a number of recent research reports. The Goldman Sachs Group boosted their price objective on HUTCHMED from $17.00 to $19.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st. StockNews.com lowered HUTCHMED from a “buy” rating to a “hold” rating in a research report on Thursday, July 18th.

HUTCHMED Trading Up 5.2 %

The company has a current ratio of 2.81, a quick ratio of 2.68 and a debt-to-equity ratio of 0.07. The company’s 50 day moving average is $18.10 and its 200-day moving average is $18.10.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. M&G Plc bought a new stake in shares of HUTCHMED in the first quarter worth $4,458,000. Hennion & Walsh Asset Management Inc. increased its position in shares of HUTCHMED by 8.6% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 61,887 shares of the company’s stock worth $1,060,000 after purchasing an additional 4,877 shares during the last quarter. BNP Paribas Financial Markets raised its stake in shares of HUTCHMED by 54.9% in the 1st quarter. BNP Paribas Financial Markets now owns 42,926 shares of the company’s stock valued at $721,000 after purchasing an additional 15,221 shares in the last quarter. Hsbc Holdings PLC lifted its position in shares of HUTCHMED by 821.2% during the fourth quarter. Hsbc Holdings PLC now owns 206,544 shares of the company’s stock worth $3,720,000 after purchasing an additional 184,123 shares during the last quarter. Finally, Bellevue Group AG grew its stake 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 in the last quarter. Institutional investors and hedge funds 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.