HUTCHMED (NASDAQ:HCM) Trading Down 3.7% – What’s Next?

HUTCHMED (China) Limited (NASDAQ:HCM) shares were down 3.7% during trading on Wednesday . The company traded as low as $16.23 and last traded at $16.26. Approximately 6,645 shares changed hands during mid-day trading, a decline of 94% from the average daily volume of 116,857 shares. The stock had previously closed at $16.88.

Analyst Ratings Changes

Separately, StockNews.com cut shares of HUTCHMED from a “buy” rating to a “hold” rating in a research report on Monday, November 18th.

HUTCHMED Price Performance

The stock’s 50 day moving average price is $18.70 and its 200 day moving average price is $18.31. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.68 and a current ratio of 2.81.

Hedge Funds Weigh In On HUTCHMED

A number of large investors have recently modified their holdings of HCM. Public Employees Retirement System of Ohio acquired a new stake in HUTCHMED in the 3rd quarter valued at about $35,000. Blue Trust Inc. lifted its position in HUTCHMED by 638.2% during the third 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. lifted its position 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 increased its holdings in shares of HUTCHMED by 8.1% during the second quarter. Rhumbline Advisers now owns 7,553 shares of the company’s stock worth $129,000 after purchasing an additional 564 shares during the period. Finally, Cubist Systematic Strategies LLC bought a new position in shares of HUTCHMED during the second quarter worth approximately $213,000. 8.82% of the stock is currently owned by institutional investors and hedge funds.

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.