HUTCHMED (NASDAQ:HCM) Cut to “Hold” at StockNews.com

HUTCHMED (NASDAQ:HCM) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Monday.

Separately, The Goldman Sachs Group raised their target price on shares of HUTCHMED from $17.00 to $19.00 and gave the company a “neutral” rating in a report on Thursday, August 1st.

HUTCHMED Stock Performance

Shares of NASDAQ HCM traded up $0.09 during mid-day trading on Monday, reaching $16.83. The company’s stock had a trading volume of 37,923 shares, compared to its average volume of 121,084. The stock has a fifty day moving average of $18.71 and a two-hundred day moving average of $18.65. HUTCHMED has a 52 week low of $11.93 and a 52 week high of $21.92. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.68 and a current ratio of 2.81.

Hedge Funds Weigh In On HUTCHMED

Large investors have recently bought and sold shares of the business. Russell Investments Group Ltd. increased its position in HUTCHMED by 70.5% during the 1st quarter. Russell Investments Group Ltd. now owns 18,179 shares of the company’s stock valued at $304,000 after buying an additional 7,515 shares in the last quarter. Bellevue Group AG lifted its stake in shares of HUTCHMED by 2.1% during the first quarter. Bellevue Group AG now owns 1,154,632 shares of the company’s stock worth $19,398,000 after buying an additional 23,521 shares during the period. Hennion & Walsh Asset Management Inc. boosted its holdings in shares of HUTCHMED by 8.6% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 61,887 shares of the company’s stock valued at $1,060,000 after acquiring an additional 4,877 shares during the last quarter. Rhumbline Advisers lifted its holdings in shares of HUTCHMED by 8.1% in the 2nd quarter. Rhumbline Advisers now owns 7,553 shares of the company’s stock valued at $129,000 after buying an additional 564 shares during the period. Finally, Renaissance Technologies LLC grew its stake in shares of 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. 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.