HUTCHMED (NASDAQ:HCM) Shares Gap Up – Here’s Why

HUTCHMED (China) Limited (NASDAQ:HCM)’s stock price gapped up prior to trading on Thursday . The stock had previously closed at $14.41, but opened at $15.14. HUTCHMED shares last traded at $15.10, with a volume of 13,427 shares.

Wall Street Analyst Weigh In

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

HUTCHMED Stock Performance

The company has a current ratio of 2.81, a quick ratio of 2.68 and a debt-to-equity ratio of 0.07. The business’s 50-day moving average is $16.69 and its two-hundred day moving average is $17.86.

Institutional Trading of HUTCHMED

A number of institutional investors and hedge funds have recently modified their holdings of HCM. Public Employees Retirement System of Ohio bought a new position in HUTCHMED during the third quarter valued at about $35,000. Jane Street Group LLC increased its position in HUTCHMED by 362.2% in the third quarter. Jane Street Group LLC now owns 62,997 shares of the company’s stock worth $1,305,000 after buying an additional 49,366 shares during the last quarter. State Street Corp raised its stake in shares of HUTCHMED by 0.9% in the third quarter. State Street Corp now owns 349,524 shares of the company’s stock valued at $6,826,000 after buying an additional 3,078 shares during the period. Point72 Hong Kong Ltd purchased a new position in shares of HUTCHMED during the 3rd quarter valued at $421,000. Finally, Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of HUTCHMED by 99.0% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 48,724 shares of the company’s stock worth $952,000 after acquiring an additional 24,245 shares during the period. 8.82% of the stock is owned by hedge funds and other institutional investors.

About HUTCHMED

HUTCHMED (China) Ltd. is a holding company, which engages in the research and development, manufacture, and sale of pharmaceuticals and health-oriented consumer products. It operates through the Oncology/Immunology and Other Ventures segments. The Oncology/Immunology segment includes the discovery, development, and commercialization of targeted therapies and immunotherapies for the treatment of cancer and immunological diseases.