HUTCHMED (NASDAQ:HCM) Shares Gap Up to $17.52

HUTCHMED (China) Limited (NASDAQ:HCM)’s stock price gapped up prior to trading on Friday . The stock had previously closed at $17.52, but opened at $18.40. HUTCHMED shares last traded at $18.31, with a volume of 20,671 shares trading hands.

Analysts Set New Price Targets

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

HUTCHMED Stock Up 5.7 %

The firm’s fifty day moving average price is $18.81 and its 200-day moving average price is $16.90. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.72 and a quick ratio of 2.60.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Bellevue Group AG grew its position in HUTCHMED by 2.1% during the 1st quarter. Bellevue Group AG now owns 1,154,632 shares of the company’s stock worth $19,398,000 after purchasing an additional 23,521 shares during the last quarter. M&G Plc acquired a new stake in shares of HUTCHMED during the first quarter worth about $4,458,000. Russell Investments Group Ltd. grew its holdings 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 buying an additional 7,515 shares during the last quarter. BNP Paribas Financial Markets increased its position in HUTCHMED by 54.9% in the 1st quarter. BNP Paribas Financial Markets now owns 42,926 shares of the company’s stock valued at $721,000 after acquiring an additional 15,221 shares during the period. Finally, China Universal Asset Management Co. Ltd. raised its stake in HUTCHMED by 65.1% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 5,933 shares of the company’s stock valued at $100,000 after acquiring an additional 2,340 shares during the last quarter. Institutional investors and hedge funds 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.