HUTCHMED (NASDAQ:HCM) Shares Down 2.3% - Time to Sell?

HUTCHMED (China) Limited (NASDAQ:HCM - Get Free Report)'s stock price fell 2.3% on Friday . The company traded as low as $19.43 and last traded at $19.45. 12,715 shares changed hands during mid-day trading, a decline of 90% from the average session volume of 124,509 shares. The stock had previously closed at $19.91.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. StockNews.com lowered shares of HUTCHMED from a "buy" rating to a "hold" rating in a report on Thursday, July 18th. The Goldman Sachs Group increased their target price on HUTCHMED from $17.00 to $19.00 and gave the company a "neutral" rating in a research report on Thursday, August 1st.

HUTCHMED Trading Down 2.1 %

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's 50-day moving average price is $18.36 and its 200-day moving average price is $18.34.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. M&G Plc purchased a new position in HUTCHMED in the 1st quarter worth $4,458,000. Renaissance Technologies LLC increased its holdings in HUTCHMED by 74.8% in the 2nd quarter. Renaissance Technologies LLC now owns 131,300 shares of the company's stock worth $2,248,000 after buying an additional 56,200 shares during the period. Bellevue Group AG raised its position in HUTCHMED by 2.1% during the 1st quarter. Bellevue Group AG now owns 1,154,632 shares of the company's stock worth $19,398,000 after buying an additional 23,521 shares during the last quarter. Point72 Asset Management L.P. purchased a new stake in shares of HUTCHMED in the 2nd quarter valued at $279,000. Finally, BNP Paribas Financial Markets increased its stake in shares of HUTCHMED by 54.9% in the first quarter. BNP Paribas Financial Markets now owns 42,926 shares of the company's stock worth $721,000 after acquiring an additional 15,221 shares during the period. 8.82% of the stock is currently owned by hedge funds and other institutional investors.

HUTCHMED Company Profile

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.