HUTCHMED (NASDAQ:HCM) Trading Down 2.3% – Time to Sell?

HUTCHMED (China) Limited (NASDAQ:HCM)’s share price dropped 2.3% on Friday . The company traded as low as $19.43 and last traded at $19.45. Approximately 12,715 shares were traded during mid-day trading, a decline of 90% from the average daily volume of 124,509 shares. The stock had previously closed at $19.91.

Analysts Set New Price Targets

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

HUTCHMED Price Performance

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 has a fifty day simple moving average of $18.36 and a 200-day simple moving average of $18.35.

Institutional Investors Weigh In On HUTCHMED

A number of institutional investors and hedge funds have recently added to or reduced their stakes in HCM. China Universal Asset Management Co. Ltd. lifted its holdings in shares of HUTCHMED by 65.1% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 5,933 shares of the company’s stock worth $100,000 after acquiring an additional 2,340 shares during the last quarter. Rhumbline Advisers boosted its position in shares of HUTCHMED by 8.1% during the second quarter. Rhumbline Advisers now owns 7,553 shares of the company’s stock worth $129,000 after buying an additional 564 shares during the period. Cubist Systematic Strategies LLC acquired a new stake in shares of HUTCHMED in the second quarter valued at $213,000. Vanguard Personalized Indexing Management LLC raised its holdings in shares of 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 during the period. Finally, Point72 Asset Management L.P. acquired a new position in HUTCHMED during the 2nd quarter worth about $279,000. Hedge funds and other 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.