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

HUTCHMED (China) Limited (NASDAQ:HCM) shares gapped down before the market opened 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 trading hands.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. StockNews.com lowered shares of HUTCHMED from a “buy” rating to a “hold” rating in a research report on Thursday, July 18th. The Goldman Sachs Group lifted their target price on HUTCHMED from $17.00 to $19.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st.

HUTCHMED Price Performance

The firm has a 50 day moving average price of $18.33 and a 200-day moving average price of $17.97. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.81 and a quick ratio of 2.68.

Institutional Investors Weigh In On HUTCHMED

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. China Universal Asset Management Co. Ltd. raised its position in shares of HUTCHMED by 65.1% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 5,933 shares of the company’s stock worth $100,000 after purchasing an additional 2,340 shares during the period. Rhumbline Advisers increased its position in HUTCHMED by 8.1% in 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 last quarter. Cubist Systematic Strategies LLC acquired a new position in shares of HUTCHMED during the 2nd quarter valued at about $213,000. Vanguard Personalized Indexing Management LLC increased its holdings in shares of HUTCHMED by 9.7% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 13,216 shares of the company’s stock valued at $226,000 after acquiring an additional 1,168 shares during the last quarter. Finally, Point72 Asset Management L.P. bought a new stake in HUTCHMED during the 2nd quarter valued at approximately $279,000. 8.82% of the stock is currently owned by institutional investors and hedge funds.

About HUTCHMED

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.