HUTCHMED (NASDAQ:HCM) Shares Gap Up to $18.42

Shares of HUTCHMED (China) Limited (NASDAQ:HCM) gapped up prior to trading on Friday . The stock had previously closed at $18.42, but opened at $19.13. HUTCHMED shares last traded at $19.12, with a volume of 13,237 shares trading hands.

Analyst Upgrades and Downgrades

A number of research firms have commented on HCM. The Goldman Sachs Group upped their price target on HUTCHMED from $17.00 to $19.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. StockNews.com downgraded HUTCHMED from a “buy” rating to a “hold” rating in a report on Thursday, July 18th.

HUTCHMED Stock Up 4.2 %

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 $18.05 and its 200-day moving average is $18.10.

Institutional Investors Weigh In On HUTCHMED

Several hedge funds and other institutional investors have recently added to or reduced their stakes in HCM. Cubist Systematic Strategies LLC bought a new stake in HUTCHMED during the second quarter worth about $213,000. Point72 Asset Management L.P. bought a new stake in shares of HUTCHMED in the 2nd quarter worth approximately $279,000. Vanguard Personalized Indexing Management LLC grew its stake in shares of HUTCHMED by 9.7% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 13,216 shares of the company’s stock worth $226,000 after buying an additional 1,168 shares during the last quarter. Renaissance Technologies LLC increased its position in HUTCHMED by 74.8% during the 2nd quarter. Renaissance Technologies LLC now owns 131,300 shares of the company’s stock valued at $2,248,000 after buying an additional 56,200 shares in the last quarter. Finally, Rhumbline Advisers increased its position in HUTCHMED by 8.1% during the 2nd quarter. Rhumbline Advisers now owns 7,553 shares of the company’s stock valued at $129,000 after buying an additional 564 shares in 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.