HUTCHMED (NASDAQ:HCM) Shares Gap Up to $16.94

Shares of HUTCHMED (China) Limited (NASDAQ:HCM) gapped up before the market opened on Tuesday . The stock had previously closed at $16.94, but opened at $17.64. HUTCHMED shares last traded at $17.88, with a volume of 17,482 shares traded.

Analyst Ratings Changes

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

HUTCHMED Price Performance

The company has a 50 day moving average of $16.14 and a 200 day moving average of $16.75. The company has a quick ratio of 2.60, a current ratio of 2.72 and a debt-to-equity ratio of 0.06.

Hedge Funds Weigh In On HUTCHMED

A number of institutional investors and hedge funds have recently bought and sold shares of HCM. China Universal Asset Management Co. Ltd. boosted 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 purchasing an additional 2,801 shares during the last quarter. Vanguard Personalized Indexing Management LLC acquired a new stake in shares of HUTCHMED in the 3rd quarter worth $196,000. Hsbc Holdings PLC purchased a new position in shares of HUTCHMED during the 3rd quarter worth $380,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of HUTCHMED during the 3rd quarter valued at about $444,000. Finally, Hennion & Walsh Asset Management Inc. grew its holdings in shares of HUTCHMED by 89.5% in the third quarter. Hennion & Walsh Asset Management Inc. now owns 51,735 shares of the company’s stock valued at $876,000 after purchasing an additional 24,437 shares during the period. 8.82% of the stock is currently owned by institutional investors and hedge funds.

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.