HUTCHMED (NASDAQ:HCM) Sees Large Volume Increase – Should You Buy?

Shares of HUTCHMED (China) Limited (NASDAQ:HCM) saw an uptick in trading volume on Thursday . 60,497 shares traded hands during trading, a decline of 30% from the previous session’s volume of 86,743 shares.The stock last traded at $13.30 and had previously closed at $13.85.

Wall Street Analyst Weigh In

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

HUTCHMED Price Performance

The firm has a 50 day simple moving average of $16.06 and a two-hundred day simple moving average of $17.71. 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

Several institutional investors and hedge funds have recently modified their holdings of HCM. M&G PLC raised its stake in HUTCHMED by 98.1% during the third quarter. M&G PLC now owns 267,231 shares of the company’s stock worth $5,345,000 after acquiring an additional 132,333 shares in the last quarter. Renaissance Technologies LLC grew its holdings in shares of HUTCHMED by 74.8% during the 2nd quarter. Renaissance Technologies LLC now owns 131,300 shares of the company’s stock valued at $2,248,000 after purchasing an additional 56,200 shares during the last quarter. Jane Street Group LLC increased its position in HUTCHMED by 362.2% during the 3rd quarter. Jane Street Group LLC now owns 62,997 shares of the company’s stock worth $1,305,000 after purchasing an additional 49,366 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its stake in HUTCHMED by 99.0% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 48,724 shares of the company’s stock valued at $952,000 after purchasing an additional 24,245 shares during the last quarter. Finally, Point72 Hong Kong Ltd acquired a new stake in HUTCHMED in the third quarter valued at approximately $421,000. 8.82% of the stock is currently owned by institutional investors.

HUTCHMED Company Profile

HUTCHMED (China) Ltd. is a holding company, which engages in the research and development, manufacture, and sale of pharmaceuticals and health-oriented consumer products. It operates through the Oncology/Immunology and Other Ventures segments. The Oncology/Immunology segment includes the discovery, development, and commercialization of targeted therapies and immunotherapies for the treatment of cancer and immunological diseases.