HUTCHMED (NASDAQ:HCM) Trading Down 6% – Here’s Why

HUTCHMED (China) Limited Sponsored ADR (NASDAQ:HCM) fell 6% during trading on Friday . The company traded as low as $10.87 and last traded at $10.9150. Approximately 4,355 shares traded hands during mid-day trading, a decline of 90% from the average daily volume of 41,652 shares. The stock had previously closed at $11.61.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Morgan Stanley set a $13.60 price objective on shares of HUTCHMED in a research note on Thursday, May 28th. Weiss Ratings raised shares of HUTCHMED from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday. Finally, Bank of America decreased their price objective on HUTCHMED from $20.00 to $17.00 and set a “buy” rating on the stock in a report on Tuesday, July 7th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $15.30.

HUTCHMED Price Performance

The company’s fifty day moving average price is $11.24 and its two-hundred day moving average price is $13.41. The company has a debt-to-equity ratio of 0.05, a quick ratio of 4.83 and a current ratio of 4.96.

Institutional Trading of HUTCHMED

Several large investors have recently made changes to their positions in HCM. Amundi raised its holdings in shares of HUTCHMED by 4.0% in the first quarter. Amundi now owns 232,246 shares of the company’s stock valued at $3,474,000 after buying an additional 8,916 shares during the last quarter. Janney Montgomery Scott LLC bought a new position in HUTCHMED in the 1st quarter worth approximately $365,000. State Street Corp lifted its holdings in HUTCHMED by 1.2% during the 4th quarter. State Street Corp now owns 321,305 shares of the company’s stock worth $4,283,000 after buying an additional 3,801 shares in the last quarter. Renaissance Technologies LLC boosted its position in HUTCHMED by 3.0% in the 4th quarter. Renaissance Technologies LLC now owns 134,900 shares of the company’s stock valued at $1,798,000 after buying an additional 3,900 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of HUTCHMED by 157.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 55,969 shares of the company’s stock valued at $746,000 after buying an additional 34,248 shares during the period. Institutional investors own 8.82% of the company’s stock.

About HUTCHMED

HUTCHMED (NASDAQ: HCM) is a fully integrated biopharmaceutical company focused on discovering, developing, manufacturing and commercializing targeted therapies and immunotherapies for the treatment of cancer and other diseases. The company leverages in-house capabilities in small-molecule chemistry, biologics engineering and translational medicine to advance candidates through all stages of development. HUTCHMED’s integrated model encompasses early discovery research, clinical development, regulatory filings and commercial launches, enabling seamless progression from laboratory to market.

HUTCHMED’s commercial portfolio includes several in-market oncology therapies approved in China, including fruquintinib for metastatic colorectal cancer, surufatinib for neuroendocrine tumors and savolitinib for non-small cell lung cancer.