HUTCHMED (NASDAQ:HCM) Stock Price Passes Below Fifty Day Moving Average of $18.21

HUTCHMED (China) Limited (NASDAQ:HCM)’s share price crossed below its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $18.21 and traded as low as $16.80. HUTCHMED shares last traded at $16.81, with a volume of 40,371 shares trading hands.

Analyst Upgrades and Downgrades

HCM has been the topic of several research analyst reports. StockNews.com downgraded HUTCHMED from a “buy” rating to a “hold” rating in a report on Thursday, July 18th. The Goldman Sachs Group boosted their price target on shares of HUTCHMED from $17.00 to $19.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st.

HUTCHMED Trading Up 3.4 %

The business’s 50 day simple moving average is $18.17 and its 200 day simple moving average is $18.02. The company has a quick ratio of 2.68, a current ratio of 2.81 and a debt-to-equity ratio of 0.07.

Hedge Funds Weigh In On HUTCHMED

Large investors have recently made changes to their positions in the stock. M&G Plc purchased a new position in shares of HUTCHMED in the 1st quarter valued at about $4,458,000. Hennion & Walsh Asset Management Inc. grew its stake in HUTCHMED by 8.6% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 61,887 shares of the company’s stock valued at $1,060,000 after acquiring an additional 4,877 shares during the last quarter. BNP Paribas Financial Markets grew its stake in HUTCHMED by 54.9% in the 1st quarter. BNP Paribas Financial Markets now owns 42,926 shares of the company’s stock valued at $721,000 after acquiring an additional 15,221 shares during the last quarter. Hsbc Holdings PLC grew its stake in HUTCHMED by 821.2% in the 4th quarter. Hsbc Holdings PLC now owns 206,544 shares of the company’s stock valued at $3,720,000 after acquiring an additional 184,123 shares during the last quarter. Finally, Bellevue Group AG grew its stake in HUTCHMED by 2.1% in the 1st quarter. Bellevue Group AG now owns 1,154,632 shares of the company’s stock valued at $19,398,000 after acquiring an additional 23,521 shares during the last quarter. Hedge funds and other institutional investors 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.