HUTCHMED (NASDAQ:HCM) Sees Strong Trading Volume

HUTCHMED (China) Limited (NASDAQ:HCM) saw unusually-high trading volume on Wednesday . Approximately 116,959 shares were traded during mid-day trading, a decline of 3% from the previous session’s volume of 120,456 shares.The stock last traded at $16.41 and had previously closed at $16.68.

Wall Street Analysts Forecast Growth

HCM has been the subject of a number of recent research reports. Cantor Fitzgerald reiterated an “overweight” rating on shares of HUTCHMED in a report on Friday, January 12th. StockNews.com upgraded HUTCHMED from a “hold” rating to a “buy” rating in a report on Wednesday, March 27th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $29.70.

HUTCHMED Stock Up 0.4 %

The company has a current ratio of 2.72, a quick ratio of 2.60 and a debt-to-equity ratio of 0.06. The stock has a fifty day simple moving average of $16.03 and a 200-day simple moving average of $16.75.

Institutional Trading of HUTCHMED

A number of institutional investors have recently bought and sold shares of HCM. Quantbot Technologies LP purchased a new stake in shares of HUTCHMED in the 1st quarter valued at about $44,000. China Universal Asset Management Co. Ltd. lifted its holdings in shares of HUTCHMED by 353.7% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 3,593 shares of the company’s stock valued at $65,000 after purchasing an additional 2,801 shares during the last quarter. US Bancorp DE lifted its holdings in shares of HUTCHMED by 270.9% in the 1st quarter. US Bancorp DE now owns 3,687 shares of the company’s stock valued at $70,000 after purchasing an additional 2,693 shares during the last quarter. Tower Research Capital LLC TRC lifted its holdings in shares of HUTCHMED by 28.8% in the 3rd quarter. Tower Research Capital LLC TRC now owns 5,723 shares of the company’s stock valued at $97,000 after purchasing an additional 1,279 shares during the last quarter. Finally, National Pension Service lifted its holdings in shares of HUTCHMED by 429.1% in the 2nd quarter. National Pension Service now owns 9,101 shares of the company’s stock valued at $115,000 after purchasing an additional 7,381 shares during the last quarter. 8.82% of the stock is owned by hedge funds and other institutional investors.

About HUTCHMED

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.