HUTCHMED (China) Limited (NASDAQ:HCM) Short Interest Up 13.1% in October

HUTCHMED (China) Limited (NASDAQ:HCM) was the recipient of a significant increase in short interest during the month of October. As of October 15th, there was short interest totalling 685,000 shares, an increase of 13.1% from the September 30th total of 605,700 shares. Based on an average trading volume of 113,700 shares, the short-interest ratio is currently 6.0 days.

Institutional Investors Weigh In On HUTCHMED

A number of large investors have recently added to or reduced their stakes in HCM. Rhumbline Advisers grew its position in HUTCHMED by 8.1% during the second 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 period. Vanguard Personalized Indexing Management LLC grew its position in shares of HUTCHMED by 9.7% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 13,216 shares of the company’s stock valued at $226,000 after acquiring an additional 1,168 shares during the period. Hennion & Walsh Asset Management Inc. increased its stake in shares of HUTCHMED by 2.5% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 57,010 shares of the company’s stock worth $958,000 after purchasing an additional 1,388 shares in the last quarter. China Universal Asset Management Co. Ltd. increased its stake in shares of HUTCHMED by 63.7% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 5,966 shares of the company’s stock worth $117,000 after purchasing an additional 2,321 shares in the last quarter. Finally, Blue Trust Inc. raised its holdings in HUTCHMED by 638.2% in the 3rd quarter. Blue Trust Inc. now owns 3,536 shares of the company’s stock worth $69,000 after purchasing an additional 3,057 shares during the period. Institutional investors own 8.82% of the company’s stock.

HUTCHMED Stock Performance

Shares of NASDAQ HCM traded down $0.95 during trading on Thursday, reaching $18.00. 127,063 shares of the company traded hands, compared to its average volume of 123,746. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.68 and a current ratio of 2.81. The firm has a 50 day simple moving average of $18.61 and a 200-day simple moving average of $18.63. HUTCHMED has a 52-week low of $11.93 and a 52-week high of $21.92.

Wall Street Analysts Forecast Growth

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

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.