HUTCHMED (NASDAQ:HCM) Shares Gap Up – Here’s What Happened

HUTCHMED (China) Limited (NASDAQ:HCM)’s share price gapped up before the market opened on Thursday . The stock had previously closed at $14.41, but opened at $15.14. HUTCHMED shares last traded at $15.10, with a volume of 13,427 shares.

Analysts Set New Price Targets

Separately, StockNews.com downgraded HUTCHMED from a “buy” rating to a “hold” rating in a report on Monday, November 18th.

HUTCHMED Trading Up 5.3 %

The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.68 and a current ratio of 2.81. The firm has a 50 day simple moving average of $16.92 and a two-hundred day simple moving average of $17.90.

Hedge Funds Weigh In On HUTCHMED

A number of large investors have recently modified their holdings of the company. State Street Corp boosted its holdings in HUTCHMED by 0.9% in the 3rd quarter. State Street Corp now owns 349,524 shares of the company’s stock valued at $6,826,000 after purchasing an additional 3,078 shares during the period. M&G PLC boosted its stake in HUTCHMED by 98.1% during the third quarter. M&G PLC now owns 267,231 shares of the company’s stock valued at $5,345,000 after buying an additional 132,333 shares during the period. Renaissance Technologies LLC increased its stake in HUTCHMED by 74.8% in the 2nd quarter. Renaissance Technologies LLC now owns 131,300 shares of the company’s stock worth $2,248,000 after acquiring an additional 56,200 shares during the last quarter. Jane Street Group LLC boosted its position in shares of HUTCHMED by 362.2% during the 3rd quarter. Jane Street Group LLC now owns 62,997 shares of the company’s stock valued at $1,305,000 after acquiring an additional 49,366 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its position in shares of HUTCHMED by 99.0% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 48,724 shares of the company’s stock worth $952,000 after purchasing an additional 24,245 shares during the last quarter. 8.82% of the stock is currently owned by institutional investors.

HUTCHMED Company Profile

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.