HUTCHMED (NASDAQ:HCM) Shares Gap Down to $17.89

Shares of HUTCHMED (China) Limited (NASDAQ:HCM) gapped down prior to trading on Friday . The stock had previously closed at $17.89, but opened at $17.53. HUTCHMED shares last traded at $16.99, with a volume of 16,288 shares trading hands.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. StockNews.com cut HUTCHMED from a “buy” rating to a “hold” rating in a research note on Thursday, July 18th. The Goldman Sachs Group boosted their target price on HUTCHMED from $17.00 to $19.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st.

HUTCHMED Stock Down 3.5 %

The company has a 50 day simple moving average of $18.38 and a 200 day simple moving average of $17.70. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.60 and a current ratio of 2.81.

Hedge Funds Weigh In On HUTCHMED

Large investors have recently modified their holdings of the business. China Universal Asset Management Co. Ltd. grew its holdings in shares of HUTCHMED by 65.1% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 5,933 shares of the company’s stock worth $100,000 after acquiring an additional 2,340 shares during the period. Rhumbline Advisers grew its holdings in HUTCHMED by 8.1% during the 2nd quarter. Rhumbline Advisers now owns 7,553 shares of the company’s stock valued at $129,000 after buying an additional 564 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new stake in shares of HUTCHMED during the second quarter worth $213,000. Vanguard Personalized Indexing Management LLC boosted its holdings in shares of HUTCHMED by 9.7% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 13,216 shares of the company’s stock worth $226,000 after purchasing an additional 1,168 shares during the last quarter. Finally, Point72 Asset Management L.P. acquired a new stake in shares of HUTCHMED during the second quarter worth $279,000. 8.82% of the stock is owned by hedge funds and other institutional investors.

HUTCHMED Company Profile

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.