HUTCHMED (NASDAQ:HCM) Rating Increased to Buy at StockNews.com

HUTCHMED (NASDAQ:HCM) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Friday.

HUTCHMED Stock Performance

Shares of NASDAQ HCM traded down $1.14 during trading on Friday, reaching $14.99. 166,904 shares of the stock were exchanged, compared to its average volume of 107,383. The business’s 50-day moving average price is $14.69 and its 200 day moving average price is $16.51. HUTCHMED has a twelve month low of $12.84 and a twelve month high of $21.92. The company has a current ratio of 2.81, a quick ratio of 2.68 and a debt-to-equity ratio of 0.07.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in HCM. Jane Street Group LLC raised its holdings in HUTCHMED by 362.2% in the third quarter. Jane Street Group LLC now owns 62,997 shares of the company’s stock valued at $1,305,000 after acquiring an additional 49,366 shares in the last quarter. XY Capital Ltd acquired a new stake in HUTCHMED in the fourth quarter valued at $673,000. ABC Arbitrage SA acquired a new stake in HUTCHMED in the fourth quarter valued at $500,000. Renaissance Technologies LLC raised its holdings in HUTCHMED by 18.4% in the fourth quarter. Renaissance Technologies LLC now owns 188,539 shares of the company’s stock valued at $2,717,000 after acquiring an additional 29,239 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its stake in HUTCHMED by 99.0% during the third 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. 8.82% of the stock is owned by institutional investors and hedge funds.

About HUTCHMED

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.