HUTCHMED (NASDAQ:HCM) Shares Gap Up – Still a Buy?

HUTCHMED (China) Limited (NASDAQ:HCM) gapped up before the market opened on Wednesday . The stock had previously closed at $13.72, but opened at $14.36. HUTCHMED shares last traded at $14.60, with a volume of 11,033 shares traded.

Wall Street Analyst Weigh In

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

HUTCHMED Stock Performance

The business’s 50 day moving average price is $14.22 and its 200 day moving average price is $16.90. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.68 and a current ratio of 2.81.

Institutional Investors Weigh In On HUTCHMED

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Public Employees Retirement System of Ohio acquired a new stake in HUTCHMED in the 3rd quarter valued at $35,000. Barclays PLC boosted its stake 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 purchasing an additional 2,255 shares during the last quarter. Blue Trust Inc. boosted its stake in HUTCHMED by 638.2% during the 3rd quarter. Blue Trust Inc. now owns 3,536 shares of the company’s stock worth $69,000 after purchasing an additional 3,057 shares during the last quarter. China Universal Asset Management Co. Ltd. boosted 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 worth $117,000 after purchasing an additional 2,321 shares during the last quarter. Finally, Summit Trail Advisors LLC boosted its stake in HUTCHMED by 14.4% during the 4th quarter. Summit Trail Advisors LLC now owns 13,090 shares of the company’s stock worth $189,000 after purchasing an additional 1,647 shares during the last quarter. Institutional investors and hedge funds own 8.82% of the company’s stock.

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.