Hennion & Walsh Asset Management Inc. Sells 763 Shares of HUTCHMED (China) Limited (NASDAQ:HCM)

Hennion & Walsh Asset Management Inc. cut its holdings in shares of HUTCHMED (China) Limited (NASDAQ:HCM) by 1.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 61,124 shares of the company’s stock after selling 763 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in HUTCHMED were worth $1,194,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of HCM. Blue Trust Inc. raised its holdings in HUTCHMED by 638.2% during the third quarter. Blue Trust Inc. now owns 3,536 shares of the company’s stock worth $69,000 after acquiring an additional 3,057 shares in the last quarter. Rhumbline Advisers raised its stake in shares of HUTCHMED by 8.1% during the 2nd quarter. Rhumbline Advisers now owns 7,553 shares of the company’s stock worth $129,000 after purchasing an additional 564 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new stake in shares of HUTCHMED in the 2nd quarter valued at approximately $213,000. Vanguard Personalized Indexing Management LLC boosted its holdings in shares of HUTCHMED by 9.7% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 13,216 shares of the company’s stock valued at $226,000 after buying an additional 1,168 shares during the last quarter. Finally, Point72 Asset Management L.P. bought a new position in shares of HUTCHMED in the second quarter valued at $279,000. 8.82% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

HUTCHMED Stock Up 1.5 %

HCM stock opened at $20.85 on Friday. HUTCHMED has a one year low of $11.93 and a one year high of $21.92. The company has a fifty day moving average price of $18.52 and a two-hundred day moving average price of $18.59. The company has a quick ratio of 2.68, a current ratio of 2.81 and a debt-to-equity ratio of 0.07.

About HUTCHMED

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.