HUTCHMED (China) Limited (NASDAQ:HCM) Short Interest Down 5.9% in October

HUTCHMED (China) Limited (NASDAQ:HCM) was the recipient of a significant drop in short interest during the month of October. As of October 31st, there was short interest totalling 653,500 shares, a drop of 5.9% from the October 15th total of 694,700 shares. Based on an average daily volume of 127,500 shares, the days-to-cover ratio is currently 5.1 days.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. StockNews.com assumed coverage on shares of HUTCHMED in a research report on Thursday, October 5th. They set a “hold” rating for the company. Citigroup began coverage on HUTCHMED in a report on Wednesday, August 2nd. They issued a “buy” rating on the stock. The Goldman Sachs Group increased their target price on HUTCHMED from $15.00 to $17.00 and gave the stock a “neutral” rating in a research report on Friday, November 10th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $50.00 price target on shares of HUTCHMED in a research report on Tuesday, September 5th.

HUTCHMED Stock Up 6.0 %

HCM traded up $1.05 during trading hours on Friday, hitting $18.62. The company’s stock had a trading volume of 210,761 shares, compared to its average volume of 163,090. The company has a 50-day simple moving average of $17.27 and a 200 day simple moving average of $14.75. The company has a quick ratio of 3.04, a current ratio of 3.20 and a debt-to-equity ratio of 0.05. HUTCHMED has a fifty-two week low of $9.76 and a fifty-two week high of $21.28.

Institutional Investors Weigh In On HUTCHMED

A number of hedge funds and other institutional investors have recently modified their holdings of HCM. XY Capital Ltd increased its stake in HUTCHMED by 5.8% during the 1st quarter. XY Capital Ltd now owns 11,550 shares of the company’s stock valued at $150,000 after buying an additional 637 shares during the period. Cubist Systematic Strategies LLC raised its holdings in HUTCHMED by 4.5% during the second quarter. Cubist Systematic Strategies LLC now owns 22,273 shares of the company’s stock worth $282,000 after purchasing an additional 950 shares in the last quarter. Tower Research Capital LLC TRC raised its holdings in HUTCHMED by 28.8% during the third quarter. Tower Research Capital LLC TRC now owns 5,723 shares of the company’s stock worth $97,000 after purchasing an additional 1,279 shares in the last quarter. UBS Group AG lifted its position in HUTCHMED by 2.5% in the first quarter. UBS Group AG now owns 57,848 shares of the company’s stock worth $753,000 after purchasing an additional 1,401 shares during the period. Finally, Tower Research Capital LLC TRC boosted its stake in HUTCHMED by 26.2% during the 1st quarter. Tower Research Capital LLC TRC now owns 8,931 shares of the company’s stock valued at $116,000 after purchasing an additional 1,855 shares in the last quarter. 14.13% of the stock is currently owned by institutional investors.

About HUTCHMED

HUTCHMED (China) Limited discovers, develops, and commercializes targeted therapeutics and immunotherapies for cancer and immunological diseases in Hong Kong and internationally. The company develops Savolitinib, an inhibitor for non-small cell lung cancer (NSCLC), papillary and renal cell carcinoma, colorectal cancer (CRC), and gastric cancer (GC); and Fruquintinib, an inhibitor for CRC, breast cancer, GC, endometrial cancer (EMC), NSCLC, hepatocellular carcinoma, and gastrointestinal and solid tumors.