HUTCHMED (NASDAQ:HCM) Shares Gap Up – What’s Next?

HUTCHMED (China) Limited (NASDAQ:HCM) gapped up prior to trading on Wednesday . The stock had previously closed at $16.75, but opened at $17.90. HUTCHMED shares last traded at $18.30, with a volume of 37,858 shares trading hands.

Analyst Upgrades and Downgrades

HCM has been the topic of a number of analyst reports. The Goldman Sachs Group lifted their price objective on shares of HUTCHMED from $17.00 to $19.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. StockNews.com cut shares of HUTCHMED from a “buy” rating to a “hold” rating in a report on Monday.

HUTCHMED Stock Performance

The company has a current ratio of 2.81, a quick ratio of 2.68 and a debt-to-equity ratio of 0.07. The stock has a fifty day moving average of $18.74 and a 200 day moving average of $18.61.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Rhumbline Advisers increased its stake in shares of HUTCHMED by 8.1% in the second 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. M&G PLC raised its holdings in HUTCHMED by 98.1% during the 3rd quarter. M&G PLC now owns 267,231 shares of the company’s stock valued at $5,345,000 after acquiring an additional 132,333 shares during the period. Blue Trust Inc. lifted its position in shares of 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. Hennion & Walsh Asset Management Inc. lifted its position in shares of HUTCHMED by 8.6% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 61,887 shares of the company’s stock worth $1,060,000 after acquiring an additional 4,877 shares in the last quarter. Finally, Renaissance Technologies LLC boosted 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 acquiring an additional 56,200 shares during the period. 8.82% of the stock is currently owned by hedge funds and other 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.