HUTCHMED (NASDAQ:HCM) Stock Price Down 3.4%

HUTCHMED (China) Limited (NASDAQ:HCM)’s share price was down 3.4% during trading on Friday . The company traded as low as $18.22 and last traded at $18.34. Approximately 26,874 shares traded hands during trading, a decline of 78% from the average daily volume of 121,061 shares. The stock had previously closed at $18.99.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on HCM shares. StockNews.com raised shares of HUTCHMED from a “hold” rating to a “buy” rating in a research note on Wednesday, March 27th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of HUTCHMED in a research note on Friday, January 12th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $29.70.

HUTCHMED Stock Performance

The stock’s 50 day moving average is $16.50 and its 200 day moving average is $16.80. The company has a quick ratio of 2.60, a current ratio of 2.72 and a debt-to-equity ratio of 0.06.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Acadian Asset Management LLC purchased a new position in shares of HUTCHMED during the 3rd quarter worth about $3,268,000. China Universal Asset Management Co. Ltd. lifted its holdings in shares of HUTCHMED by 353.7% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 3,593 shares of the company’s stock worth $65,000 after acquiring an additional 2,801 shares during the period. Baillie Gifford & Co. lifted its holdings in shares of HUTCHMED by 7.2% during the 4th quarter. Baillie Gifford & Co. now owns 144,969 shares of the company’s stock worth $2,625,000 after acquiring an additional 9,694 shares during the period. Connor Clark & Lunn Investment Management Ltd. purchased a new position in HUTCHMED in the third quarter valued at approximately $444,000. Finally, Hsbc Holdings PLC purchased a new position in HUTCHMED in the third quarter valued at approximately $380,000. 8.82% of the stock is currently owned by hedge funds and other institutional investors.

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.