HUTCHMED (NASDAQ:HCM) Shares Gap Up to $16.94

HUTCHMED (China) Limited (NASDAQ:HCM) shares gapped up prior to trading on Tuesday . The stock had previously closed at $16.94, but opened at $17.64. HUTCHMED shares last traded at $17.88, with a volume of 17,482 shares trading hands.

Analyst Ratings Changes

HCM has been the subject of a number of research analyst reports. StockNews.com upgraded HUTCHMED from a “hold” rating to a “buy” rating in a research note on Wednesday, March 27th. Cantor Fitzgerald reiterated an “overweight” rating on shares of HUTCHMED in a research note on Friday, January 12th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $29.70.

HUTCHMED Price Performance

The stock has a 50 day simple moving average of $16.32 and a 200-day simple moving average of $16.77. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.60 and a current ratio of 2.72.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Acadian Asset Management LLC bought a new stake in shares of HUTCHMED in the 3rd quarter worth $3,268,000. China Universal Asset Management Co. Ltd. increased its holdings in shares of 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 in the last quarter. Baillie Gifford & Co. increased its holdings in shares of 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 in the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of HUTCHMED in the 3rd quarter worth $444,000. Finally, Hsbc Holdings PLC bought a new stake in shares of HUTCHMED in the 3rd quarter worth $380,000. Hedge funds and other institutional investors own 8.82% of the company’s stock.

About HUTCHMED

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.