HUTCHMED (NASDAQ:HCM) Stock Price Up 6.3% – Here’s Why

HUTCHMED (China) Limited (NASDAQ:HCM)’s share price was up 6.3% on Friday . The company traded as high as $16.50 and last traded at $16.29. Approximately 70,518 shares were traded during trading, a decline of 18% from the average daily volume of 85,795 shares. The stock had previously closed at $15.33.

Analyst Upgrades and Downgrades

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

HUTCHMED Trading Up 5.0 %

The business’s fifty day moving average price is $14.22 and its two-hundred day moving average price is $16.90. 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 Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Public Employees Retirement System of Ohio grew its stake in HUTCHMED by 49.6% in the 4th quarter. Public Employees Retirement System of Ohio now owns 2,710 shares of the company’s stock valued at $39,000 after buying an additional 899 shares during the last quarter. Bank of America Corp DE grew its position in HUTCHMED by 40.4% in the 4th quarter. Bank of America Corp DE now owns 22,723 shares of the company’s stock worth $327,000 after purchasing an additional 6,540 shares during the last quarter. Jane Street Group LLC grew its position in HUTCHMED by 54.7% in the 4th quarter. Jane Street Group LLC now owns 97,470 shares of the company’s stock worth $1,405,000 after purchasing an additional 34,473 shares during the last quarter. Marshall Wace LLP acquired a new stake in HUTCHMED in the 4th quarter worth $261,000. Finally, Barclays PLC grew its position in HUTCHMED by 1,483.6% in the 4th quarter. Barclays PLC now owns 2,407 shares of the company’s stock worth $35,000 after purchasing an additional 2,255 shares during the last quarter. 8.82% of the stock is currently owned by institutional investors and hedge funds.

About HUTCHMED

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.