HUTCHMED (China) Limited (NASDAQ:HCM) Short Interest Update

HUTCHMED (China) Limited (NASDAQ:HCM) was the recipient of a large increase in short interest in June. As of June 15th, there was short interest totalling 509,000 shares, an increase of 13.6% from the May 31st total of 447,900 shares. Based on an average trading volume of 123,300 shares, the short-interest ratio is presently 4.1 days.

HUTCHMED Price Performance

Shares of NASDAQ HCM traded up $0.57 during trading hours on Monday, reaching $17.69. 31,251 shares of the stock traded hands, compared to its average volume of 118,243. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.60 and a current ratio of 2.72. HUTCHMED has a 52-week low of $11.60 and a 52-week high of $21.92. The company’s 50-day simple moving average is $18.86 and its two-hundred day simple moving average is $16.92.

Hedge Funds Weigh In On HUTCHMED

A number of large investors have recently modified their holdings of HCM. Hsbc Holdings PLC purchased a new position in shares of HUTCHMED during the 3rd quarter valued at about $380,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in HUTCHMED in the 3rd quarter worth approximately $444,000. China Universal Asset Management Co. Ltd. increased its stake in HUTCHMED by 353.7% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 3,593 shares of the company’s stock worth $65,000 after purchasing an additional 2,801 shares during the period. Baillie Gifford & Co. increased its stake in HUTCHMED by 7.2% in the 4th quarter. Baillie Gifford & Co. now owns 144,969 shares of the company’s stock worth $2,625,000 after purchasing an additional 9,694 shares during the period. Finally, Hennion & Walsh Asset Management Inc. increased its stake in HUTCHMED by 2.5% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 57,010 shares of the company’s stock worth $958,000 after purchasing an additional 1,388 shares during the period. 8.82% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, StockNews.com raised HUTCHMED from a “hold” rating to a “buy” rating in a report on Monday, June 10th. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $29.70.

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.