HUTCHMED (NASDAQ:HCM) Sees Strong Trading Volume – Time to Buy?

Shares of HUTCHMED (China) Limited (NASDAQ:HCM) saw unusually-high trading volume on Friday . Approximately 96,135 shares traded hands during mid-day trading, a decline of 23% from the previous session’s volume of 124,271 shares.The stock last traded at $20.44 and had previously closed at $19.42.

Analyst Upgrades and Downgrades

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

HUTCHMED Trading Up 7.6 %

The firm’s fifty day moving average price is $18.37 and its two-hundred day moving average price is $18.45. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.81 and a quick ratio of 2.68.

Institutional Investors Weigh In On HUTCHMED

Hedge funds have recently bought and sold shares of the stock. Bellevue Group AG lifted its stake in HUTCHMED by 2.1% during the first quarter. Bellevue Group AG now owns 1,154,632 shares of the company’s stock worth $19,398,000 after purchasing an additional 23,521 shares during the last quarter. M&G Plc bought a new position in shares of HUTCHMED during the first quarter valued at about $4,458,000. Renaissance Technologies LLC increased its holdings in shares of HUTCHMED by 74.8% in the second quarter. Renaissance Technologies LLC now owns 131,300 shares of the company’s stock worth $2,248,000 after buying an additional 56,200 shares during the period. Hennion & Walsh Asset Management Inc. lifted its stake in shares of 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. Finally, BNP Paribas Financial Markets lifted its stake in shares of 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. 8.82% of the stock is currently owned by 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.