HUTCHMED (NASDAQ:HCM) Stock Rating Lowered by StockNews.com

HUTCHMED (NASDAQ:HCM) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Monday.

Separately, The Goldman Sachs Group lifted their target price on shares of HUTCHMED from $17.00 to $19.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st.

HUTCHMED Stock Up 0.5 %

NASDAQ HCM traded up $0.09 during trading hours on Monday, reaching $16.83. 37,923 shares of the company were exchanged, compared to its average volume of 121,084. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.68 and a current ratio of 2.81. HUTCHMED has a 1 year low of $11.93 and a 1 year high of $21.92. The business’s 50 day simple moving average is $18.71 and its 200-day simple moving average is $18.65.

Institutional Investors Weigh In On HUTCHMED

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HCM. Public Employees Retirement System of Ohio bought a new stake in shares of HUTCHMED in the 3rd quarter worth approximately $35,000. Blue Trust Inc. lifted its holdings in shares of HUTCHMED by 638.2% during the third quarter. Blue Trust Inc. now owns 3,536 shares of the company’s stock valued at $69,000 after purchasing an additional 3,057 shares in the last quarter. China Universal Asset Management Co. Ltd. lifted its stake in HUTCHMED by 63.7% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 5,966 shares of the company’s stock valued at $117,000 after acquiring an additional 2,321 shares during the period. Rhumbline Advisers grew 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 period. Finally, Cubist Systematic Strategies LLC bought a new position in shares of HUTCHMED during the 2nd quarter valued at $213,000. 8.82% of the stock is currently owned by institutional investors.

HUTCHMED Company Profile

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.