HUTCHMED (NASDAQ:HCM) Shares Gap Up to $17.52

Shares of HUTCHMED (China) Limited (NASDAQ:HCM) gapped up prior to trading on Friday . The stock had previously closed at $17.52, but opened at $18.40. HUTCHMED shares last traded at $18.31, with a volume of 20,671 shares.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded HUTCHMED from a “hold” rating to a “buy” rating in a report on Monday, June 10th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $29.70.

HUTCHMED Stock Performance

The company has a 50-day moving average of $18.81 and a two-hundred day moving average of $16.90. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.60 and a current ratio of 2.72.

Hedge Funds Weigh In On HUTCHMED

Several large investors have recently modified their holdings of HCM. M&G Plc purchased a new position in HUTCHMED in the 1st quarter worth about $4,458,000. Hsbc Holdings PLC grew its stake in shares of HUTCHMED by 821.2% in the fourth quarter. Hsbc Holdings PLC now owns 206,544 shares of the company’s stock worth $3,720,000 after acquiring an additional 184,123 shares during the period. Bellevue Group AG raised its holdings in shares of HUTCHMED by 2.1% during the first quarter. Bellevue Group AG now owns 1,154,632 shares of the company’s stock valued at $19,398,000 after purchasing an additional 23,521 shares during the last quarter. BNP Paribas Financial Markets lifted its position in HUTCHMED by 54.9% during the first quarter. BNP Paribas Financial Markets now owns 42,926 shares of the company’s stock valued at $721,000 after purchasing an additional 15,221 shares during the period. Finally, Baillie Gifford & Co. boosted its holdings in HUTCHMED by 7.2% in the fourth quarter. Baillie Gifford & Co. now owns 144,969 shares of the company’s stock worth $2,625,000 after purchasing an additional 9,694 shares during the last quarter. Hedge funds and other institutional investors own 8.82% of the company’s stock.

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.