HUTCHMED (NASDAQ:HCM) Shares Gap Up to $19.15

HUTCHMED (China) Limited (NASDAQ:HCM) gapped up prior to trading on Monday . The stock had previously closed at $19.15, but opened at $19.87. HUTCHMED shares last traded at $19.79, with a volume of 52,348 shares trading hands.

Analyst Ratings Changes

A number of brokerages have issued reports on HCM. StockNews.com raised shares of HUTCHMED from a “hold” rating to a “buy” rating in a report on Wednesday, March 27th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of HUTCHMED in a research note on Friday, January 12th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $29.70.

HUTCHMED Stock Up 3.5 %

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 company’s fifty day simple moving average is $16.90 and its two-hundred day simple moving average is $16.83.

Institutional Investors Weigh In On HUTCHMED

Large investors have recently bought and sold shares of the stock. Hennion & Walsh Asset Management Inc. grew its holdings in shares of HUTCHMED by 89.5% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 51,735 shares of the company’s stock worth $876,000 after buying an additional 24,437 shares in the last quarter. Vanguard Personalized Indexing Management LLC purchased a new stake in HUTCHMED in the 3rd quarter worth approximately $196,000. Hsbc Holdings PLC acquired a new position in HUTCHMED in the 3rd quarter valued at $380,000. Acadian Asset Management LLC purchased a new position in shares of HUTCHMED during the 3rd quarter worth $3,268,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of HUTCHMED during the third quarter worth $444,000. 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.