HUTCHMED (NASDAQ:HCM) Shares Down 5.7% - Here's Why

HUTCHMED (China) Limited (NASDAQ:HCM - Get Free Report) dropped 5.7% on Friday . The stock traded as low as $15.02 and last traded at $14.85. Approximately 8,068 shares traded hands during trading, a decline of 92% from the average daily volume of 96,397 shares. The stock had previously closed at $15.74.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded HUTCHMED from a "hold" rating to a "buy" rating in a report on Friday, March 21st.

HUTCHMED Stock Up 3.2 %

The business has a 50-day moving average of $14.96 and a 200-day moving average of $15.75. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.81 and a quick ratio of 2.68.

Hedge Funds Weigh In On HUTCHMED

Institutional investors have recently bought and sold shares of the company. Barclays PLC increased its stake in HUTCHMED by 1,483.6% in the 4th quarter. Barclays PLC now owns 2,407 shares of the company's stock valued at $35,000 after buying an additional 2,255 shares during the period. Public Employees Retirement System of Ohio grew its stake in shares of HUTCHMED by 49.6% during the 4th quarter. Public Employees Retirement System of Ohio now owns 2,710 shares of the company's stock worth $39,000 after purchasing an additional 899 shares during the period. Blue Trust Inc. grew its stake in shares of HUTCHMED by 99.9% during the 4th quarter. Blue Trust Inc. now owns 7,068 shares of the company's stock worth $102,000 after purchasing an additional 3,532 shares during the period. Summit Trail Advisors LLC grew its stake in shares of HUTCHMED by 14.4% during the 4th quarter. Summit Trail Advisors LLC now owns 13,090 shares of the company's stock worth $189,000 after purchasing an additional 1,647 shares during the period. Finally, OLD Mission Capital LLC acquired a new position in shares of HUTCHMED during the 4th quarter worth $230,000. 8.82% of the stock is owned by institutional investors and hedge funds.

About HUTCHMED

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.