HUTCHMED (NASDAQ:HCM) Shares Gap Up to $17.78

HUTCHMED (China) Limited (NASDAQ:HCMGet Free Report) shares gapped up before the market opened on Friday . The stock had previously closed at $17.78, but opened at $18.72. HUTCHMED shares last traded at $19.49, with a volume of 46,755 shares.

Wall Street Analysts Forecast Growth

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

View Our Latest Analysis on HCM

HUTCHMED Trading Up 8.7 %

The stock’s 50-day simple moving average is $18.66 and its 200 day simple moving average is $16.90. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.72 and a quick ratio of 2.60.

Institutional Investors Weigh In On HUTCHMED

Large investors have recently modified their holdings of the company. Hennion & Walsh Asset Management Inc. grew its position in shares of HUTCHMED by 2.5% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 57,010 shares of the company’s stock valued at $958,000 after buying an additional 1,388 shares during the last quarter. China Universal Asset Management Co. Ltd. grew its position in shares of HUTCHMED by 65.1% in 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 during the last quarter. Russell Investments Group Ltd. grew its position in shares of HUTCHMED by 70.5% in the 1st quarter. Russell Investments Group Ltd. now owns 18,179 shares of the company’s stock valued at $304,000 after buying an additional 7,515 shares during the last quarter. Baillie Gifford & Co. grew its position in shares of HUTCHMED by 7.2% in the 4th quarter. Baillie Gifford & Co. now owns 144,969 shares of the company’s stock valued at $2,625,000 after buying an additional 9,694 shares during the last quarter. Finally, BNP Paribas Financial Markets grew its position in shares of HUTCHMED by 54.9% in the 1st quarter. BNP Paribas Financial Markets now owns 42,926 shares of the company’s stock valued at $721,000 after buying an additional 15,221 shares during the last quarter. 8.82% of the stock is 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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