HUTCHMED (NASDAQ:HCM) Upgraded by StockNews.com to “Buy”

StockNews.com upgraded shares of HUTCHMED (NASDAQ:HCMFree Report) from a hold rating to a buy rating in a report released on Monday.

HUTCHMED Stock Performance

HUTCHMED stock opened at $18.08 on Monday. 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 one year low of $10.68 and a one year high of $21.92. The business has a 50 day simple moving average of $18.65 and a 200 day simple moving average of $17.02.

Institutional Investors Weigh In On HUTCHMED

Institutional investors and hedge funds have recently made changes to their positions in the company. Hennion & Walsh Asset Management Inc. grew its stake in shares of HUTCHMED by 2.5% during the first 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. China Universal Asset Management Co. Ltd. grew its holdings in shares of HUTCHMED by 65.1% during the first quarter. China Universal Asset Management Co. Ltd. now owns 5,933 shares of the company’s stock worth $100,000 after buying an additional 2,340 shares in the last quarter. Russell Investments Group Ltd. grew its holdings in shares of HUTCHMED by 70.5% during the first quarter. Russell Investments Group Ltd. now owns 18,179 shares of the company’s stock worth $304,000 after buying an additional 7,515 shares in the last quarter. Baillie Gifford & Co. grew its holdings in shares of HUTCHMED by 7.2% during the fourth quarter. Baillie Gifford & Co. now owns 144,969 shares of the company’s stock worth $2,625,000 after buying an additional 9,694 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC acquired a new position in HUTCHMED during the third quarter valued at approximately $196,000. Institutional investors own 8.82% of the company’s stock.

HUTCHMED Company Profile

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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.

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