Shares of HUTCHMED (China) Limited (NASDAQ:HCM - Get Free Report) gapped up before the market opened on Friday . The stock had previously closed at $18.00, but opened at $18.74. HUTCHMED shares last traded at $18.85, with a volume of 16,689 shares.
Analyst Upgrades and Downgrades
Several analysts have weighed in on the stock. StockNews.com cut shares of HUTCHMED from a "buy" rating to a "hold" rating in a research note on Thursday, July 18th. The Goldman Sachs Group boosted their price objective on HUTCHMED from $17.00 to $19.00 and gave the company a "neutral" rating in a report on Thursday, August 1st.
View Our Latest Research Report on HUTCHMED
HUTCHMED Trading Up 3.5 %
The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.68 and a current ratio of 2.81. The business has a 50-day simple moving average of $18.61 and a 200-day simple moving average of $18.63.
Institutional Investors Weigh In On HUTCHMED
A number of large investors have recently made changes to their positions in HCM. M&G Plc purchased a new position in shares of HUTCHMED during the 1st quarter worth approximately $4,458,000. M&G PLC grew its position in HUTCHMED by 98.1% during the third quarter. M&G PLC now owns 267,231 shares of the company's stock valued at $5,345,000 after acquiring an additional 132,333 shares during the period. Renaissance Technologies LLC grew its stake in shares of HUTCHMED by 74.8% in the second quarter. Renaissance Technologies LLC now owns 131,300 shares of the company's stock valued at $2,248,000 after buying an additional 56,200 shares in the last quarter. Bellevue Group AG boosted its position in HUTCHMED by 2.1% in the 1st quarter. Bellevue Group AG now owns 1,154,632 shares of the company's stock valued at $19,398,000 after buying an additional 23,521 shares during the last quarter. Finally, Point72 Asset Management L.P. acquired a new stake in shares of HUTCHMED during the second quarter worth approximately $279,000. 8.82% of the stock is currently owned by hedge funds and other institutional investors.
HUTCHMED Company Profile
(
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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