HUTCHMED (NASDAQ:HCM) Shares Gap Down - Should You Sell?

HUTCHMED (China) Limited (NASDAQ:HCM - Get Free Report)'s stock price gapped down before the market opened on Wednesday . The stock had previously closed at $20.61, but opened at $19.94. HUTCHMED shares last traded at $19.96, with a volume of 23,370 shares changing hands.

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Analysts Set New Price Targets

Several analysts have issued reports on HCM shares. StockNews.com lowered HUTCHMED from a "buy" rating to a "hold" rating in a report on Thursday, July 18th. The Goldman Sachs Group boosted their price target on HUTCHMED from $17.00 to $19.00 and gave the company a "neutral" rating in a report on Thursday, August 1st.

Check Out Our Latest Stock Analysis on HCM

HUTCHMED Price Performance

The company has a debt-to-equity ratio of 0.07, a current ratio of 2.81 and a quick ratio of 2.68. The business has a 50 day moving average price of $18.29 and a two-hundred day moving average price of $18.30.

Hedge Funds Weigh In On HUTCHMED

Hedge funds have recently made changes to their positions in the business. China Universal Asset Management Co. Ltd. boosted its stake in HUTCHMED by 65.1% during the first quarter. China Universal Asset Management Co. Ltd. now owns 5,933 shares of the company's stock valued at $100,000 after buying an additional 2,340 shares during the last quarter. Rhumbline Advisers boosted its stake in HUTCHMED by 8.1% during the second quarter. Rhumbline Advisers now owns 7,553 shares of the company's stock valued at $129,000 after buying an additional 564 shares during the last quarter. Cubist Systematic Strategies LLC bought a new position in HUTCHMED during the second quarter valued at approximately $213,000. Vanguard Personalized Indexing Management LLC boosted its stake in HUTCHMED by 9.7% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 13,216 shares of the company's stock valued at $226,000 after buying an additional 1,168 shares during the last quarter. Finally, Point72 Asset Management L.P. bought a new position in HUTCHMED during the second quarter valued at approximately $279,000. Institutional investors own 8.82% of the company's stock.

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About HUTCHMED

(Get Free Report)

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.

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