HUTCHMED (NASDAQ:HCM) Shares Gap Down – What’s Next?

HUTCHMED (China) Limited (NASDAQ:HCM)’s stock price gapped down before the market opened on Wednesday . The stock had previously closed at $20.61, but opened at $19.94. HUTCHMED shares last traded at $19.96, with a volume of 23,370 shares.

Analyst Ratings Changes

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

HUTCHMED Stock Performance

The firm has a fifty day simple moving average of $18.29 and a 200-day simple moving average of $18.30. The company has a quick ratio of 2.68, a current ratio of 2.81 and a debt-to-equity ratio of 0.07.

Institutional Investors Weigh In On HUTCHMED

A number of institutional investors and hedge funds have recently bought and sold shares of HCM. China Universal Asset Management Co. Ltd. increased its position in shares of HUTCHMED by 65.1% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 5,933 shares of the company’s stock valued at $100,000 after purchasing an additional 2,340 shares during the last quarter. Rhumbline Advisers lifted its position in shares of 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 during the last quarter. Cubist Systematic Strategies LLC bought a new position in shares of HUTCHMED during the 2nd quarter worth $213,000. Vanguard Personalized Indexing Management LLC increased its holdings in 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 acquiring an additional 1,168 shares during the last quarter. Finally, Point72 Asset Management L.P. bought a new position in HUTCHMED during the second quarter worth about $279,000. 8.82% of the stock is owned by hedge funds and other institutional investors.

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.