Short Interest in HUTCHMED (China) Limited (NASDAQ:HCM) Grows By 13.6%

HUTCHMED (China) Limited (NASDAQ:HCM) was the recipient of a large increase in short interest in June. As of June 15th, there was short interest totalling 509,000 shares, an increase of 13.6% from the May 31st total of 447,900 shares. Based on an average daily volume of 123,300 shares, the days-to-cover ratio is presently 4.1 days.

Hedge Funds Weigh In On HUTCHMED

Several hedge funds and other institutional investors have recently added to or reduced their stakes in HCM. Hsbc Holdings PLC bought a new position in HUTCHMED in the 3rd quarter valued at approximately $380,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of HUTCHMED in the 3rd quarter worth $444,000. China Universal Asset Management Co. Ltd. boosted its stake in shares of HUTCHMED by 353.7% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 3,593 shares of the company’s stock worth $65,000 after buying an additional 2,801 shares during the last quarter. Baillie Gifford & Co. boosted its stake in shares of HUTCHMED by 7.2% in the 4th quarter. Baillie Gifford & Co. now owns 144,969 shares of the company’s stock worth $2,625,000 after buying an additional 9,694 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. boosted its stake in shares of HUTCHMED by 2.5% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 57,010 shares of the company’s stock worth $958,000 after buying an additional 1,388 shares during the last quarter. 8.82% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised HUTCHMED from a “hold” rating to a “buy” rating in a research report on Monday, June 10th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, HUTCHMED has a consensus rating of “Moderate Buy” and an average target price of $29.70.

HUTCHMED Stock Performance

Shares of HCM traded up $0.30 during mid-day trading on Wednesday, reaching $17.52. The company had a trading volume of 63,898 shares, compared to its average volume of 117,836. HUTCHMED has a 52 week low of $11.70 and a 52 week high of $21.92. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.60 and a current ratio of 2.72. The firm has a 50-day moving average price of $18.85 and a 200 day moving average price of $16.89.

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.