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

Shares of HUTCHMED (China) Limited (NASDAQ:HCM) gapped up prior to trading on Wednesday . The stock had previously closed at $14.95, but opened at $15.42. HUTCHMED shares last traded at $15.75, with a volume of 9,897 shares traded.

HUTCHMED Stock Performance

The company has a 50-day simple moving average of $14.65 and a two-hundred day simple moving average of $16.53. 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 Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. State Street Corp lifted 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 buying an additional 3,078 shares during the last quarter. Renaissance Technologies LLC lifted its position in shares of HUTCHMED by 18.4% during the 4th quarter. Renaissance Technologies LLC now owns 188,539 shares of the company’s stock valued at $2,717,000 after buying an additional 29,239 shares during the last quarter. Jane Street Group LLC lifted its position in shares of HUTCHMED by 54.7% during the 4th quarter. Jane Street Group LLC now owns 97,470 shares of the company’s stock valued at $1,405,000 after buying an additional 34,473 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of HUTCHMED by 99.0% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 48,724 shares of the company’s stock valued at $952,000 after buying an additional 24,245 shares during the last quarter. Finally, XY Capital Ltd purchased a new position in shares of HUTCHMED during the 4th quarter valued at $673,000. Hedge funds and other 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.