HUTCHMED (NASDAQ:HCM) Shares Gap Up – Here’s What Happened

HUTCHMED (China) Limited (NASDAQ:HCM) shares gapped up prior to trading on Friday . The stock had previously closed at $19.95, but opened at $21.10. HUTCHMED shares last traded at $20.94, with a volume of 128,273 shares changing hands.

Analyst Ratings Changes

Several equities analysts have issued reports on HCM shares. StockNews.com lowered HUTCHMED from a “buy” rating to a “hold” rating in a research note on Thursday, July 18th. The Goldman Sachs Group boosted their price target on HUTCHMED from $17.00 to $19.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st.

HUTCHMED Stock Up 3.2 %

The company has a fifty day moving average price of $18.14 and a 200 day moving average price of $18.20. The company has a current ratio of 2.81, a quick ratio of 2.68 and a debt-to-equity ratio of 0.07.

Institutional Investors Weigh In On HUTCHMED

Hedge funds and other institutional investors have recently modified their holdings of the company. China Universal Asset Management Co. Ltd. grew its holdings in HUTCHMED by 65.1% during the first quarter. China Universal Asset Management Co. Ltd. now owns 5,933 shares of the company’s stock worth $100,000 after buying an additional 2,340 shares in the last quarter. Rhumbline Advisers grew its holdings in HUTCHMED by 8.1% during the second quarter. Rhumbline Advisers now owns 7,553 shares of the company’s stock worth $129,000 after buying an additional 564 shares in the last quarter. Cubist Systematic Strategies LLC bought a new stake in HUTCHMED during the second quarter worth $213,000. Vanguard Personalized Indexing Management LLC grew its holdings in HUTCHMED by 9.7% during the second 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 in the last quarter. Finally, Point72 Asset Management L.P. bought a new position in HUTCHMED in the 2nd quarter valued at $279,000. 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.