HUTCHMED (NASDAQ:HCM) Shares Gap Up to $19.15

Shares of HUTCHMED (China) Limited (NASDAQ:HCM) gapped up prior to trading on Monday . The stock had previously closed at $19.15, but opened at $19.87. HUTCHMED shares last traded at $19.79, with a volume of 52,348 shares.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. StockNews.com upgraded HUTCHMED from a “hold” rating to a “buy” rating in a research note on Wednesday, March 27th. Cantor Fitzgerald reiterated an “overweight” rating on shares of HUTCHMED in a research report on Friday, January 12th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, HUTCHMED currently has an average rating of “Moderate Buy” and an average target price of $29.70.

HUTCHMED Stock Performance

The company has a debt-to-equity ratio of 0.06, a current ratio of 2.72 and a quick ratio of 2.60. The business has a 50 day simple moving average of $16.90 and a two-hundred day simple moving average of $16.83.

Institutional Investors Weigh In On HUTCHMED

A number of institutional investors have recently added to or reduced their stakes in HCM. BNP Paribas Financial Markets boosted its holdings in HUTCHMED by 54.9% in the first quarter. BNP Paribas Financial Markets now owns 42,926 shares of the company’s stock worth $721,000 after acquiring an additional 15,221 shares in the last quarter. China Universal Asset Management Co. Ltd. boosted its holdings in HUTCHMED by 65.1% in the first quarter. China Universal Asset Management Co. Ltd. now owns 5,933 shares of the company’s stock worth $100,000 after acquiring an additional 2,340 shares in the last quarter. Hennion & Walsh Asset Management Inc. boosted its holdings in HUTCHMED by 2.5% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 57,010 shares of the company’s stock worth $958,000 after acquiring an additional 1,388 shares in the last quarter. Hsbc Holdings PLC lifted its holdings in shares of HUTCHMED by 821.2% during the fourth quarter. Hsbc Holdings PLC now owns 206,544 shares of the company’s stock worth $3,720,000 after purchasing an additional 184,123 shares during the period. Finally, Baillie Gifford & Co. lifted its holdings in shares of HUTCHMED by 7.2% during the fourth quarter. Baillie Gifford & Co. now owns 144,969 shares of the company’s stock worth $2,625,000 after purchasing an additional 9,694 shares during the period. Institutional investors own 8.82% of the company’s stock.

About HUTCHMED

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.