HUTCHMED (NASDAQ:HCM) Shares Gap Down – Here’s What Happened

HUTCHMED (China) Limited (NASDAQ:HCM)’s stock price gapped down prior to trading on Monday . The stock had previously closed at $16.53, but opened at $15.69. HUTCHMED shares last traded at $15.48, with a volume of 25,271 shares trading hands.

Analyst Ratings Changes

Separately, StockNews.com downgraded 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 has a 50 day simple moving average of $14.58 and a two-hundred day simple moving average of $16.63.

Institutional Investors Weigh In On HUTCHMED

A number of large investors have recently modified their holdings of the stock. Jane Street Group LLC raised its position in shares of HUTCHMED by 362.2% in the 3rd quarter. Jane Street Group LLC now owns 62,997 shares of the company’s stock valued at $1,305,000 after purchasing an additional 49,366 shares in the last quarter. State Street Corp raised its holdings in 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 acquiring an additional 3,078 shares in the last quarter. ABC Arbitrage SA bought a new position in HUTCHMED during the 4th quarter valued at $500,000. XY Capital Ltd acquired a new position in HUTCHMED during the 4th quarter worth $673,000. Finally, Crossmark Global Holdings Inc. increased its position in shares of HUTCHMED by 10.7% in the 4th quarter. Crossmark Global Holdings Inc. now owns 18,591 shares of the company’s stock worth $268,000 after purchasing an additional 1,799 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.