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

HUTCHMED (China) Limited (NASDAQ:HCM)’s stock price gapped down prior to trading on Monday . The stock had previously closed at $15.58, but opened at $15.18. HUTCHMED shares last traded at $14.85, with a volume of 12,786 shares changing hands.

Wall Street Analysts Forecast Growth

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

HUTCHMED Stock Down 0.3 %

The company has a quick ratio of 2.68, a current ratio of 2.81 and a debt-to-equity ratio of 0.07. The company’s fifty day moving average price is $18.30 and its two-hundred day moving average price is $18.22.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of HCM. Rhumbline Advisers boosted 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 acquiring an additional 564 shares during the last quarter. Vanguard Personalized Indexing Management LLC boosted its holdings in HUTCHMED by 9.7% during the second 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 last quarter. Public Employees Retirement System of Ohio acquired a new stake in HUTCHMED in the 3rd quarter valued at $35,000. China Universal Asset Management Co. Ltd. lifted its position in HUTCHMED by 63.7% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 5,966 shares of the company’s stock worth $117,000 after buying an additional 2,321 shares in the last quarter. Finally, Blue Trust Inc. boosted its stake in shares of HUTCHMED by 638.2% during the 3rd quarter. Blue Trust Inc. now owns 3,536 shares of the company’s stock worth $69,000 after buying an additional 3,057 shares during the last quarter. 8.82% of the stock is currently owned by 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.