HUTCHMED (NASDAQ:HCM) Shares Gap Up – Should You Buy?

HUTCHMED (China) Limited (NASDAQ:HCM) shares gapped up prior to trading on Thursday . The stock had previously closed at $14.41, but opened at $15.14. HUTCHMED shares last traded at $15.10, with a volume of 13,427 shares trading hands.

Analysts Set New Price Targets

Separately, StockNews.com cut HUTCHMED from a “buy” rating to a “hold” rating in a report on Monday, November 18th.

HUTCHMED Stock Up 5.3 %

The firm’s 50-day simple moving average is $16.92 and its 200-day simple moving average is $17.90. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.68 and a current ratio of 2.81.

Institutional Investors Weigh In On HUTCHMED

Several institutional investors have recently added to or reduced their stakes in HCM. Public Employees Retirement System of Ohio purchased a new stake in HUTCHMED in the third quarter worth $35,000. Jane Street Group LLC boosted its position in shares of HUTCHMED by 362.2% during the third quarter. Jane Street Group LLC now owns 62,997 shares of the company’s stock valued at $1,305,000 after purchasing an additional 49,366 shares in the last quarter. State Street Corp grew its position in shares of HUTCHMED by 0.9% in the 3rd quarter. State Street Corp now owns 349,524 shares of the company’s stock worth $6,826,000 after buying an additional 3,078 shares during the period. Point72 Hong Kong Ltd bought a new position in shares of HUTCHMED during the third quarter valued at approximately $421,000. Finally, Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of HUTCHMED by 99.0% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 48,724 shares of the company’s stock worth $952,000 after buying an additional 24,245 shares during the last quarter. Hedge funds and other institutional investors own 8.82% of the company’s stock.

About HUTCHMED

HUTCHMED (China) Ltd. is a holding company, which engages in the research and development, manufacture, and sale of pharmaceuticals and health-oriented consumer products. It operates through the Oncology/Immunology and Other Ventures segments. The Oncology/Immunology segment includes the discovery, development, and commercialization of targeted therapies and immunotherapies for the treatment of cancer and immunological diseases.