HUTCHMED (NASDAQ:HCM) Shares Down 5.7% – Here’s What Happened

HUTCHMED (China) Limited (NASDAQ:HCM) was down 5.7% on Friday . The stock traded as low as $15.06 and last traded at $15.22. Approximately 21,656 shares traded hands during trading, a decline of 80% from the average daily volume of 108,708 shares. The stock had previously closed at $16.13.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded shares of HUTCHMED from a “hold” rating to a “buy” rating in a report on Friday.

HUTCHMED Trading Down 7.1 %

The company has a debt-to-equity ratio of 0.07, a current ratio of 2.81 and a quick ratio of 2.68. The stock’s fifty day moving average is $14.69 and its two-hundred day moving average is $16.50.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Public Employees Retirement System of Ohio boosted its holdings in HUTCHMED by 49.6% in the 4th quarter. Public Employees Retirement System of Ohio now owns 2,710 shares of the company’s stock worth $39,000 after buying an additional 899 shares during the period. Bank of America Corp DE boosted its holdings in HUTCHMED by 40.4% in the 4th quarter. Bank of America Corp DE now owns 22,723 shares of the company’s stock worth $327,000 after buying an additional 6,540 shares during the period. Jane Street Group LLC boosted its holdings in HUTCHMED by 54.7% in the 4th quarter. Jane Street Group LLC now owns 97,470 shares of the company’s stock worth $1,405,000 after buying an additional 34,473 shares during the period. Marshall Wace LLP bought a new position in HUTCHMED in the 4th quarter worth approximately $261,000. Finally, Barclays PLC boosted its holdings in HUTCHMED by 1,483.6% in the 4th quarter. Barclays PLC now owns 2,407 shares of the company’s stock worth $35,000 after buying an additional 2,255 shares during the period. 8.82% of the stock is owned by institutional investors.

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.