HUTCHMED (NASDAQ:HCM) Shares Cross Below 50 Day Moving Average of $18.21

Shares of HUTCHMED (China) Limited (NASDAQ:HCM) crossed below its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $18.21 and traded as low as $16.80. HUTCHMED shares last traded at $16.81, with a volume of 40,371 shares traded.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on HCM shares. The Goldman Sachs Group boosted their price target on HUTCHMED from $17.00 to $19.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. StockNews.com lowered HUTCHMED from a “buy” rating to a “hold” rating in a report on Thursday, July 18th.

HUTCHMED Stock Up 3.0 %

The company has a quick ratio of 2.68, a current ratio of 2.81 and a debt-to-equity ratio of 0.07. The company has a fifty day moving average price of $18.21 and a two-hundred day moving average price of $18.00.

Institutional Trading of HUTCHMED

Several institutional investors have recently modified their holdings of HCM. China Universal Asset Management Co. Ltd. lifted 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 valued at $100,000 after purchasing an additional 2,340 shares during the last quarter. Rhumbline Advisers lifted its holdings in shares of HUTCHMED by 8.1% during the second quarter. Rhumbline Advisers now owns 7,553 shares of the company’s stock valued at $129,000 after purchasing an additional 564 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new stake in shares of HUTCHMED during the second quarter valued at $213,000. Vanguard Personalized Indexing Management LLC lifted 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 valued at $226,000 after purchasing an additional 1,168 shares during the last quarter. Finally, Point72 Asset Management L.P. purchased a new stake in shares of HUTCHMED during the second quarter valued at $279,000. Institutional investors and hedge funds 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.