HUTCHMED (NASDAQ:HCM) Shares Gap Up to $16.03

HUTCHMED (China) Limited (NASDAQ:HCM)’s share price gapped up before the market opened on Wednesday . The stock had previously closed at $16.03, but opened at $16.50. HUTCHMED shares last traded at $16.60, with a volume of 16,217 shares.

Analyst Ratings Changes

A number of analysts have weighed in on the company. StockNews.com lowered HUTCHMED from a “buy” rating to a “hold” rating in a report on Thursday, July 18th. The Goldman Sachs Group upped their target price on HUTCHMED from $17.00 to $19.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st.

HUTCHMED Stock Down 0.8 %

The firm has a fifty day moving average price of $18.29 and a 200 day moving average price of $17.97. The company has a current ratio of 2.81, a quick ratio of 2.68 and a debt-to-equity ratio of 0.07.

Hedge Funds Weigh In On HUTCHMED

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HCM. Point72 Asset Management L.P. acquired a new stake in HUTCHMED during the 2nd quarter worth about $279,000. Cubist Systematic Strategies LLC acquired a new stake in HUTCHMED during the 2nd quarter worth about $213,000. Vanguard Personalized Indexing Management LLC grew its position in HUTCHMED by 9.7% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 13,216 shares of the company’s stock worth $226,000 after purchasing an additional 1,168 shares during the period. Renaissance Technologies LLC grew its position in HUTCHMED by 74.8% during the 2nd quarter. Renaissance Technologies LLC now owns 131,300 shares of the company’s stock worth $2,248,000 after purchasing an additional 56,200 shares during the period. Finally, Rhumbline Advisers grew its position in HUTCHMED by 8.1% during the 2nd quarter. Rhumbline Advisers now owns 7,553 shares of the company’s stock worth $129,000 after purchasing an additional 564 shares during the period. Hedge funds and other institutional investors own 8.82% of the company’s stock.

HUTCHMED Company Profile

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.