HUTCHMED (NASDAQ:HCM) Shares Gap Up – What’s Next?

HUTCHMED (China) Limited (NASDAQ:HCM)’s share price gapped up prior to trading on Thursday . The stock had previously closed at $16.28, but opened at $16.73. HUTCHMED shares last traded at $15.95, with a volume of 23,568 shares.

Analyst Upgrades and Downgrades

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

HUTCHMED Stock Performance

The company has a 50-day simple moving average of $18.42 and a 200 day simple moving average of $18.26. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.81 and a quick ratio of 2.68.

Institutional Investors Weigh In On HUTCHMED

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