HUTCHMED (China) Limited (NASDAQ:HCM) Sees Significant Growth in Short Interest

HUTCHMED (China) Limited (NASDAQ:HCM) saw a large growth in short interest during the month of June. As of June 15th, there was short interest totalling 509,000 shares, a growth of 13.6% from the May 31st total of 447,900 shares. Based on an average daily volume of 123,300 shares, the short-interest ratio is presently 4.1 days.

Institutional Investors Weigh In On HUTCHMED

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Hennion & Walsh Asset Management Inc. lifted its holdings in shares of 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. China Universal Asset Management Co. Ltd. lifted its stake in shares of HUTCHMED by 65.1% during the first quarter. China Universal Asset Management Co. Ltd. now owns 5,933 shares of the company’s stock worth $100,000 after purchasing an additional 2,340 shares in the last quarter. Russell Investments Group Ltd. lifted its stake in shares of HUTCHMED by 70.5% during the first quarter. Russell Investments Group Ltd. now owns 18,179 shares of the company’s stock worth $304,000 after purchasing an additional 7,515 shares in the last quarter. Baillie Gifford & Co. boosted its position in shares of HUTCHMED by 7.2% in the fourth quarter. Baillie Gifford & Co. now owns 144,969 shares of the company’s stock worth $2,625,000 after buying an additional 9,694 shares during the period. Finally, BNP Paribas Financial Markets grew its stake in shares of HUTCHMED by 54.9% in the first quarter. BNP Paribas Financial Markets now owns 42,926 shares of the company’s stock valued at $721,000 after buying an additional 15,221 shares in the last quarter. 8.82% of the stock is currently owned by institutional investors and hedge funds.

HUTCHMED Stock Performance

Shares of NASDAQ HCM traded up $0.24 during trading on Wednesday, hitting $17.46. 40,700 shares of the company traded hands, compared to its average volume of 117,654. 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 company has a 50-day moving average price of $18.85 and a 200-day moving average price of $16.89. HUTCHMED has a 1 year low of $11.70 and a 1 year high of $21.92.

Analysts Set New Price Targets

Separately, StockNews.com upgraded HUTCHMED from a “hold” rating to a “buy” rating in a report on Monday, June 10th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $29.70.

About HUTCHMED

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.