HUTCHMED (NASDAQ:HCM) Shares Gap Up - What's Next?

HUTCHMED (China) Limited (NASDAQ:HCM - Get Free Report)'s share price gapped up prior to trading on Wednesday . The stock had previously closed at $18.81, but opened at $19.40. HUTCHMED shares last traded at $19.73, with a volume of 72,601 shares.

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Analyst Upgrades and Downgrades

HCM has been the topic of several recent analyst reports. The Goldman Sachs Group raised their target price on shares of HUTCHMED from $17.00 to $19.00 and gave the stock a "neutral" rating in a report on Thursday, August 1st. StockNews.com cut shares of HUTCHMED from a "buy" rating to a "hold" rating in a report on Thursday, July 18th.

Read Our Latest Analysis on HUTCHMED

HUTCHMED Trading Up 5.3 %

The firm's fifty day moving average is $18.36 and its two-hundred day moving average is $18.40. The company has a quick ratio of 2.68, a current ratio of 2.81 and a debt-to-equity ratio of 0.07.

Institutional Trading of HUTCHMED

Hedge funds have recently modified their holdings of the business. China Universal Asset Management Co. Ltd. boosted its holdings in shares of HUTCHMED by 65.1% during the 1st 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 in the last quarter. Rhumbline Advisers raised its position in shares of HUTCHMED by 8.1% in the 2nd quarter. Rhumbline Advisers now owns 7,553 shares of the company's stock worth $129,000 after purchasing an additional 564 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new position in shares of HUTCHMED in the 2nd quarter worth about $213,000. Vanguard Personalized Indexing Management LLC raised its position in shares of HUTCHMED by 9.7% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 13,216 shares of the company's stock worth $226,000 after purchasing an additional 1,168 shares during the last quarter. Finally, Point72 Asset Management L.P. purchased a new position in shares of HUTCHMED in the 2nd quarter worth about $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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