HUTCHMED (NASDAQ:HCM) Shares Gap Up – Should You Buy?

HUTCHMED (China) Limited (NASDAQ:HCM)’s share price gapped up prior to trading 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

HCM has been the subject of several analyst reports. StockNews.com downgraded shares of HUTCHMED from a “buy” rating to a “hold” rating in a research report on Thursday, July 18th. The Goldman Sachs Group upped their price target on HUTCHMED from $17.00 to $19.00 and gave the company a “neutral” rating in a report on Thursday, August 1st.

HUTCHMED Trading Up 4.7 %

The firm’s fifty day simple moving average is $18.61 and its two-hundred day simple moving average is $18.63. The company has a current ratio of 2.81, a quick ratio of 2.68 and a debt-to-equity ratio of 0.07.

Hedge Funds Weigh In On HUTCHMED

A number of hedge funds have recently made changes to their positions in HCM. Blue Trust Inc. increased its stake in HUTCHMED by 638.2% in the 3rd quarter. Blue Trust Inc. now owns 3,536 shares of the company’s stock worth $69,000 after acquiring an additional 3,057 shares during the last quarter. China Universal Asset Management Co. Ltd. increased its stake in HUTCHMED by 63.7% during the third quarter. China Universal Asset Management Co. Ltd. now owns 5,966 shares of the company’s stock worth $117,000 after acquiring an additional 2,321 shares during the last quarter. Rhumbline Advisers raised its stake in shares of HUTCHMED by 8.1% in the second quarter. Rhumbline Advisers now owns 7,553 shares of the company’s stock valued at $129,000 after acquiring an additional 564 shares during the period. Cubist Systematic Strategies LLC bought a new position in HUTCHMED during the 2nd quarter valued at about $213,000. Finally, Vanguard Personalized Indexing Management LLC raised its position in HUTCHMED by 9.7% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 13,216 shares of the company’s stock worth $226,000 after purchasing an additional 1,168 shares during the period. 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.