HUTCHMED (NASDAQ:HCM) Trading 6.3% Higher – What’s Next?

Shares of HUTCHMED (China) Limited (NASDAQ:HCM) traded up 6.3% on Friday . The company traded as high as $16.50 and last traded at $16.29. 70,518 shares traded hands during mid-day trading, a decline of 18% from the average session volume of 85,795 shares. The stock had previously closed at $15.33.

Analysts Set New Price Targets

Separately, StockNews.com downgraded HUTCHMED from a “buy” rating to a “hold” rating in a report on Monday, November 18th.

HUTCHMED Stock Up 5.1 %

The stock has a fifty day simple moving average of $14.23 and a two-hundred day simple moving average of $16.86. The company has a quick ratio of 2.68, a current ratio of 2.81 and a debt-to-equity ratio of 0.07.

Institutional Investors Weigh In On HUTCHMED

Hedge funds and other institutional investors have recently modified their holdings of the company. Jane Street Group LLC increased its holdings in shares of HUTCHMED by 362.2% during the third quarter. Jane Street Group LLC now owns 62,997 shares of the company’s stock valued at $1,305,000 after acquiring an additional 49,366 shares in the last quarter. State Street Corp increased its holdings in shares of HUTCHMED by 0.9% during the third 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. ABC Arbitrage SA bought a new stake in shares of HUTCHMED during the fourth quarter valued at approximately $500,000. XY Capital Ltd bought a new stake in shares of HUTCHMED during the fourth quarter valued at approximately $673,000. Finally, Crossmark Global Holdings Inc. increased its holdings in shares of HUTCHMED by 10.7% during the fourth quarter. Crossmark Global Holdings Inc. now owns 18,591 shares of the company’s stock valued at $268,000 after acquiring an additional 1,799 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.