HUTCHMED (NASDAQ:HCM) Trading 2.7% Higher

HUTCHMED (China) Limited (NASDAQ:HCM)’s stock price traded up 2.7% during trading on Tuesday . The stock traded as high as $17.43 and last traded at $17.15. 7,005 shares were traded during trading, a decline of 94% from the average session volume of 117,766 shares. The stock had previously closed at $16.70.

Analysts Set New Price Targets

Separately, StockNews.com upgraded HUTCHMED from a “hold” rating to a “buy” rating in a research report on Monday, June 10th. One equities research 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, the company presently has a consensus rating of “Moderate Buy” and an average target price of $29.70.

HUTCHMED Stock Performance

The company has a quick ratio of 2.60, a current ratio of 2.72 and a debt-to-equity ratio of 0.06. The business’s fifty day moving average is $18.77 and its 200 day moving average is $16.90.

Hedge Funds Weigh In On HUTCHMED

Hedge funds have recently modified their holdings of the stock. China Universal Asset Management Co. Ltd. lifted its holdings in shares of HUTCHMED by 353.7% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 3,593 shares of the company’s stock valued at $65,000 after purchasing an additional 2,801 shares in the last quarter. Russell Investments Group Ltd. lifted its stake in HUTCHMED by 70.5% in the 1st quarter. Russell Investments Group Ltd. now owns 18,179 shares of the company’s stock worth $304,000 after acquiring an additional 7,515 shares in the last quarter. BNP Paribas Financial Markets boosted its position in HUTCHMED by 54.9% during the 1st 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 during the period. Hennion & Walsh Asset Management Inc. grew its stake in HUTCHMED by 2.5% during the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 57,010 shares of the company’s stock valued at $958,000 after acquiring an additional 1,388 shares in the last quarter. Finally, Baillie Gifford & Co. increased its holdings in shares of HUTCHMED by 7.2% in the 4th quarter. Baillie Gifford & Co. now owns 144,969 shares of the company’s stock valued at $2,625,000 after purchasing an additional 9,694 shares during the period. 8.82% of the stock is currently owned by institutional investors and hedge funds.

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.