HUTCHMED (China) Limited (NASDAQ:HCM - Get Free Report) was the target of a large decline in short interest during the month of December. As of December 15th, there was short interest totalling 467,900 shares, a decline of 8.1% from the November 30th total of 509,300 shares. Based on an average daily trading volume, of 95,100 shares, the days-to-cover ratio is currently 4.9 days.
Wall Street Analyst Weigh In
Separately, StockNews.com downgraded shares of HUTCHMED from a "buy" rating to a "hold" rating in a report on Monday, November 18th.
Check Out Our Latest Stock Analysis on HCM
Institutional Investors Weigh In On HUTCHMED
Institutional investors and hedge funds have recently made changes to their positions in the company. M&G PLC increased its holdings in shares of HUTCHMED by 98.1% in the third quarter. M&G PLC now owns 267,231 shares of the company's stock valued at $5,345,000 after purchasing an additional 132,333 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in shares of HUTCHMED by 74.8% during the 2nd quarter. Renaissance Technologies LLC now owns 131,300 shares of the company's stock valued at $2,248,000 after purchasing an additional 56,200 shares in the last quarter. Jane Street Group LLC increased its position in shares of HUTCHMED by 362.2% during the third quarter. Jane Street Group LLC now owns 62,997 shares of the company's stock worth $1,305,000 after acquiring an additional 49,366 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of HUTCHMED by 99.0% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 48,724 shares of the company's stock valued at $952,000 after purchasing an additional 24,245 shares in the last quarter. Finally, Point72 Hong Kong Ltd bought a new position in HUTCHMED in the third quarter valued at $421,000. Institutional investors and hedge funds own 8.82% of the company's stock.
HUTCHMED Price Performance
Shares of HCM traded up $0.05 during mid-day trading on Wednesday, reaching $14.41. The company had a trading volume of 39,395 shares, compared to its average volume of 114,476. The company's 50-day moving average is $16.92 and its 200-day moving average is $17.90. HUTCHMED has a twelve month low of $11.93 and a twelve month high of $21.92. The company has a current ratio of 2.81, a quick ratio of 2.68 and a debt-to-equity ratio of 0.07.
HUTCHMED Company Profile
(
Get Free Report)
HUTCHMED (China) Ltd. is a holding company, which engages in the research and development, manufacture, and sale of pharmaceuticals and health-oriented consumer products. It operates through the Oncology/Immunology and Other Ventures segments. The Oncology/Immunology segment includes the discovery, development, and commercialization of targeted therapies and immunotherapies for the treatment of cancer and immunological diseases.
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