HUTCHMED (NASDAQ:HCM) Downgraded by StockNews.com to Hold

StockNews.com lowered shares of HUTCHMED (NASDAQ:HCM) from a buy rating to a hold rating in a research report report published on Thursday.

HUTCHMED Price Performance

Shares of HCM opened at $18.94 on Thursday. HUTCHMED has a 52-week low of $11.93 and a 52-week high of $21.92. The business’s 50 day moving average price is $18.53 and its two-hundred day moving average price is $16.96. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.72 and a quick ratio of 2.60.

Hedge Funds Weigh In On HUTCHMED

Several institutional investors have recently made changes to their positions in HCM. Hennion & Walsh Asset Management Inc. grew its stake in shares of HUTCHMED by 8.6% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 61,887 shares of the company’s stock valued at $1,060,000 after buying an additional 4,877 shares during the period. Bellevue Group AG grew its stake in HUTCHMED by 2.1% in the first quarter. Bellevue Group AG now owns 1,154,632 shares of the company’s stock valued at $19,398,000 after acquiring an additional 23,521 shares during the period. M&G Plc acquired a new stake in HUTCHMED in the first quarter valued at approximately $4,458,000. Russell Investments Group Ltd. increased its holdings in shares of HUTCHMED by 70.5% during the first quarter. Russell Investments Group Ltd. now owns 18,179 shares of the company’s stock valued at $304,000 after acquiring an additional 7,515 shares in the last quarter. Finally, BNP Paribas Financial Markets raised its position in shares of HUTCHMED by 54.9% during the first quarter. BNP Paribas Financial Markets now owns 42,926 shares of the company’s stock worth $721,000 after purchasing an additional 15,221 shares during the period. Institutional investors and hedge funds own 8.82% of the company’s stock.

About HUTCHMED

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.