HUTCHMED (NASDAQ:HCM) Trading Down 3.7% – Should You Sell?

HUTCHMED (China) Limited (NASDAQ:HCM) dropped 3.7% on Wednesday . The stock traded as low as $16.23 and last traded at $16.26. Approximately 6,645 shares changed hands during trading, a decline of 94% from the average daily volume of 116,857 shares. The stock had previously closed at $16.88.

Analyst Upgrades and Downgrades

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

HUTCHMED Stock Performance

The firm has a 50 day simple moving average of $18.70 and a two-hundred day simple moving average of $18.31. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.68 and a current ratio of 2.81.

Institutional Trading of HUTCHMED

A number of institutional investors and hedge funds have recently made changes to their positions in HCM. Public Employees Retirement System of Ohio bought a new position in HUTCHMED during the third quarter valued at about $35,000. Blue Trust Inc. grew its stake in shares of HUTCHMED by 638.2% in the 3rd quarter. Blue Trust Inc. now owns 3,536 shares of the company’s stock valued at $69,000 after purchasing an additional 3,057 shares during the period. China Universal Asset Management Co. Ltd. grew its stake in shares of HUTCHMED by 63.7% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 5,966 shares of the company’s stock valued at $117,000 after purchasing an additional 2,321 shares during the period. Rhumbline Advisers boosted its holdings in shares of HUTCHMED by 8.1% in the 2nd quarter. Rhumbline Advisers now owns 7,553 shares of the company’s stock worth $129,000 after acquiring an additional 564 shares in the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new position in shares of HUTCHMED in the 2nd quarter worth approximately $213,000. 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.