HUTCHMED (NASDAQ:HCM) Stock Price Crosses Above 50-Day Moving Average – Here’s Why

HUTCHMED (China) Limited (NASDAQ:HCM)’s share price crossed above its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $14.51 and traded as high as $16.85. HUTCHMED shares last traded at $16.75, with a volume of 66,974 shares trading hands.

Wall Street Analyst Weigh In

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

HUTCHMED Stock Up 4.1 %

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 business’s 50 day moving average is $14.51 and its 200 day moving average is $16.67.

Hedge Funds Weigh In On HUTCHMED

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Public Employees Retirement System of Ohio raised its stake in HUTCHMED by 49.6% in the 4th quarter. Public Employees Retirement System of Ohio now owns 2,710 shares of the company’s stock worth $39,000 after acquiring an additional 899 shares during the last quarter. Bank of America Corp DE lifted its holdings in shares of HUTCHMED by 40.4% during the fourth quarter. Bank of America Corp DE now owns 22,723 shares of the company’s stock worth $327,000 after purchasing an additional 6,540 shares during the period. Jane Street Group LLC boosted its position in HUTCHMED by 54.7% in the fourth quarter. Jane Street Group LLC now owns 97,470 shares of the company’s stock valued at $1,405,000 after buying an additional 34,473 shares during the last quarter. Marshall Wace LLP acquired a new position in HUTCHMED in the 4th quarter worth approximately $261,000. Finally, Barclays PLC raised its position in HUTCHMED by 1,483.6% during the 4th quarter. Barclays PLC now owns 2,407 shares of the company’s stock worth $35,000 after buying an additional 2,255 shares during the last quarter. 8.82% of the stock is owned by hedge funds and other institutional investors.

HUTCHMED Company Profile

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.