HUTCHMED (NASDAQ:HCM) Shares Gap Up – Time to Buy?

HUTCHMED (China) Limited (NASDAQ:HCM)’s share price gapped up prior to trading on Thursday . The stock had previously closed at $16.28, but opened at $16.73. HUTCHMED shares last traded at $15.95, with a volume of 23,568 shares trading hands.

Analyst Upgrades and Downgrades

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

HUTCHMED Stock Down 1.8 %

The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.68 and a current ratio of 2.81. The firm’s 50 day simple moving average is $18.42 and its 200 day simple moving average is $18.26.

Institutional Investors Weigh In On HUTCHMED

Several hedge funds have recently added to or reduced their stakes in HCM. Rhumbline Advisers grew its holdings in HUTCHMED by 8.1% during the second quarter. Rhumbline Advisers now owns 7,553 shares of the company’s stock worth $129,000 after acquiring an additional 564 shares during the period. M&G PLC boosted its holdings in HUTCHMED by 98.1% during the third quarter. M&G PLC now owns 267,231 shares of the company’s stock worth $5,345,000 after buying an additional 132,333 shares in the last quarter. Blue Trust Inc. boosted its holdings 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 buying an additional 3,057 shares in the last quarter. Hennion & Walsh Asset Management Inc. increased its holdings in HUTCHMED by 8.6% in the second 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 in the last quarter. Finally, Renaissance Technologies LLC grew its position in shares of HUTCHMED by 74.8% during the 2nd quarter. Renaissance Technologies LLC now owns 131,300 shares of the company’s stock valued at $2,248,000 after acquiring an additional 56,200 shares during the period. 8.82% of the stock is owned by hedge funds and other institutional investors.

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.