HUTCHMED (NASDAQ:HCM) Shares Gap Up to $19.15

HUTCHMED (China) Limited (NASDAQ:HCM) shares gapped up prior to trading on Monday . The stock had previously closed at $19.15, but opened at $19.87. HUTCHMED shares last traded at $19.79, with a volume of 52,348 shares changing hands.

Analyst Upgrades and Downgrades

Several analysts recently commented on HCM shares. StockNews.com upgraded shares of HUTCHMED from a “hold” rating to a “buy” rating in a report on Wednesday, March 27th. Cantor Fitzgerald restated an “overweight” rating on shares of HUTCHMED in a report on Friday, January 12th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock currently 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 $17.05 and a 200 day moving average of $16.87. The company has a quick ratio of 2.60, a current ratio of 2.72 and a debt-to-equity ratio of 0.06.

Institutional Investors Weigh In On HUTCHMED

Institutional investors and hedge funds have recently modified their holdings of the business. Hennion & Walsh Asset Management Inc. boosted its position in 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. lifted its stake in shares of HUTCHMED by 65.1% in 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 during the last quarter. Russell Investments Group Ltd. boosted its holdings in shares of HUTCHMED by 70.5% during the 1st 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 during the period. Baillie Gifford & Co. grew its stake in HUTCHMED by 7.2% in the 4th quarter. Baillie Gifford & Co. now owns 144,969 shares of the company’s stock valued at $2,625,000 after buying an additional 9,694 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC bought a new position in HUTCHMED in the 3rd quarter worth $196,000. Institutional investors and hedge funds own 8.82% of the company’s stock.

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.