HUTCHMED (NASDAQ:HCM) Shares Gap Up – What’s Next?

HUTCHMED (China) Limited (NASDAQ:HCM)’s stock price gapped up prior to trading on Thursday . The stock had previously closed at $14.22, but opened at $15.07. HUTCHMED shares last traded at $15.15, with a volume of 56,261 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded HUTCHMED from a “hold” rating to a “buy” rating in a research note on Friday, March 21st.

HUTCHMED Stock Performance

The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.68 and a current ratio of 2.81. The stock’s 50-day moving average is $14.70 and its 200-day moving average is $16.44.

Institutional Trading of HUTCHMED

A number of hedge funds have recently modified their holdings of the company. Public Employees Retirement System of Ohio raised its stake in shares of HUTCHMED by 49.6% in the fourth quarter. Public Employees Retirement System of Ohio now owns 2,710 shares of the company’s stock valued at $39,000 after purchasing an additional 899 shares in the last quarter. Summit Trail Advisors LLC raised its stake in shares of HUTCHMED by 14.4% in the 4th quarter. Summit Trail Advisors LLC now owns 13,090 shares of the company’s stock valued at $189,000 after buying an additional 1,647 shares in the last quarter. Crossmark Global Holdings Inc. raised its stake 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 valued at $268,000 after buying an additional 1,799 shares in the last quarter. Barclays PLC lifted its holdings in shares of 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 acquiring an additional 2,255 shares during the period. Finally, State Street Corp boosted its position in shares of HUTCHMED by 0.9% during the 3rd 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. Institutional investors own 8.82% of the company’s stock.

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.