HUTCHMED (NASDAQ:HCM) Shares Gap Up – Should You Buy?

HUTCHMED (China) Limited (NASDAQ:HCM) shares gapped up prior to trading on Wednesday . The stock had previously closed at $11.81, but opened at $12.39. HUTCHMED shares last traded at $11.99, with a volume of 43,688 shares traded.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded HUTCHMED from a “hold” rating to a “buy” rating in a research report on Friday, March 21st.

HUTCHMED Stock Performance

The company has a quick ratio of 2.68, a current ratio of 2.81 and a debt-to-equity ratio of 0.07. The stock’s 50 day moving average is $14.80 and its 200 day moving average is $16.27.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Jane Street Group LLC grew its holdings in HUTCHMED by 362.2% during the 3rd quarter. Jane Street Group LLC now owns 62,997 shares of the company’s stock valued at $1,305,000 after buying an additional 49,366 shares during the last quarter. XY Capital Ltd purchased a new stake in shares of HUTCHMED in the fourth quarter valued at $673,000. ABC Arbitrage SA acquired a new stake in shares of HUTCHMED during the fourth quarter valued at $500,000. Renaissance Technologies LLC increased its position in HUTCHMED by 18.4% during the 4th quarter. Renaissance Technologies LLC now owns 188,539 shares of the company’s stock worth $2,717,000 after purchasing an additional 29,239 shares in the last quarter. Finally, Marshall Wace LLP acquired a new position in HUTCHMED in the 4th quarter valued at about $261,000. 8.82% of the stock is owned by hedge funds and other institutional investors.

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.