HUTCHMED (NASDAQ:HCM) Shares Gap Down to $17.29

HUTCHMED (China) Limited (NASDAQ:HCMGet Free Report)’s share price gapped down prior to trading on Tuesday . The stock had previously closed at $17.29, but opened at $16.75. HUTCHMED shares last traded at $16.07, with a volume of 42,729 shares.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. StockNews.com lowered HUTCHMED from a “buy” rating to a “hold” rating in a report on Thursday, July 18th. The Goldman Sachs Group raised their price objective on HUTCHMED from $17.00 to $19.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st.

Get Our Latest Stock Report on HCM

HUTCHMED Trading Up 4.9 %

The company has a quick ratio of 2.68, a current ratio of 2.81 and a debt-to-equity ratio of 0.07. The stock has a 50 day moving average of $18.30 and a two-hundred day moving average of $17.97.

Institutional Investors Weigh In On HUTCHMED

A number of hedge funds have recently bought and sold shares of the company. Point72 Asset Management L.P. bought a new stake in shares of HUTCHMED in the second quarter valued at approximately $279,000. Cubist Systematic Strategies LLC acquired a new position in HUTCHMED during the 2nd quarter valued at $213,000. Vanguard Personalized Indexing Management LLC boosted its holdings in HUTCHMED by 9.7% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 13,216 shares of the company’s stock valued at $226,000 after purchasing an additional 1,168 shares during the period. Renaissance Technologies LLC grew its position in HUTCHMED by 74.8% in the 2nd quarter. Renaissance Technologies LLC now owns 131,300 shares of the company’s stock worth $2,248,000 after purchasing an additional 56,200 shares during the last quarter. Finally, Rhumbline Advisers increased its holdings in shares of HUTCHMED by 8.1% during the 2nd 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. 8.82% of the stock is currently owned by institutional investors.

About HUTCHMED

(Get Free Report)

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.

Featured Articles

Receive News & Ratings for HUTCHMED Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for HUTCHMED and related companies with MarketBeat.com's FREE daily email newsletter.