HUTCHMED (NASDAQ:HCM) Shares Gap Down – What’s Next?

HUTCHMED (China) Limited (NASDAQ:HCM) gapped down prior to trading on Tuesday . The stock had previously closed at $15.09, but opened at $14.64. HUTCHMED shares last traded at $14.70, with a volume of 6,976 shares changing hands.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded shares of HUTCHMED from a “hold” rating to a “buy” rating in a research note on Friday.

HUTCHMED Trading Down 2.6 %

The company has a debt-to-equity ratio of 0.07, a current ratio of 2.81 and a quick ratio of 2.68. The firm has a 50 day moving average of $14.70 and a two-hundred day moving average of $16.48.

Institutional Trading of HUTCHMED

A number of hedge funds and other institutional investors have recently modified their holdings of HCM. Jane Street Group LLC raised its position in HUTCHMED by 362.2% in the third quarter. Jane Street Group LLC now owns 62,997 shares of the company’s stock valued at $1,305,000 after purchasing an additional 49,366 shares during the last quarter. State Street Corp boosted its position in HUTCHMED by 0.9% during the 3rd quarter. State Street Corp now owns 349,524 shares of the company’s stock worth $6,826,000 after buying an additional 3,078 shares during the period. ABC Arbitrage SA bought a new stake in HUTCHMED during the 4th quarter worth approximately $500,000. XY Capital Ltd acquired a new position in HUTCHMED in the 4th quarter valued at approximately $673,000. Finally, Crossmark Global Holdings Inc. raised its stake in shares of HUTCHMED by 10.7% during the fourth quarter. Crossmark Global Holdings Inc. now owns 18,591 shares of the company’s stock valued at $268,000 after acquiring an additional 1,799 shares during the last quarter. Institutional investors own 8.82% of the company’s stock.

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.