HUTCHMED (NASDAQ:HCM) Shares Gap Down – Here’s What Happened

HUTCHMED (China) Limited (NASDAQ:HCM)’s stock price gapped down before the market opened on Wednesday . The stock had previously closed at $20.61, but opened at $19.94. HUTCHMED shares last traded at $19.96, with a volume of 23,370 shares.

Wall Street Analyst Weigh In

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

HUTCHMED Trading Down 0.8 %

The business has a fifty day moving average of $18.33 and a 200-day moving average of $18.32. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.81 and a quick ratio of 2.68.

Institutional Trading of HUTCHMED

Institutional investors and hedge funds have recently modified their holdings of the business. Cubist Systematic Strategies LLC purchased a new stake in HUTCHMED during the second quarter valued at about $213,000. Point72 Asset Management L.P. purchased a new stake in shares of HUTCHMED during the 2nd quarter valued at approximately $279,000. Vanguard Personalized Indexing Management LLC grew its stake in HUTCHMED by 9.7% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 13,216 shares of the company’s stock valued at $226,000 after buying an additional 1,168 shares in the last quarter. Renaissance Technologies LLC raised its holdings in HUTCHMED by 74.8% during the 2nd quarter. Renaissance Technologies LLC now owns 131,300 shares of the company’s stock valued at $2,248,000 after acquiring an additional 56,200 shares during the period. Finally, Rhumbline Advisers boosted its holdings in shares of HUTCHMED by 8.1% in the second quarter. Rhumbline Advisers now owns 7,553 shares of the company’s stock worth $129,000 after acquiring an additional 564 shares during the period. 8.82% of the stock is owned by hedge funds and other institutional investors.

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.