HUTCHMED (NASDAQ:HCM) Shares Gap Up to $18.23

HUTCHMED (China) Limited (NASDAQ:HCM) shares gapped up before the market opened on Tuesday . The stock had previously closed at $18.23, but opened at $19.68. HUTCHMED shares last traded at $20.00, with a volume of 26,585 shares changing hands.

Wall Street Analysts Forecast Growth

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

HUTCHMED Price Performance

The business has a 50 day moving average price of $18.20 and a two-hundred day moving average price of $17.13. The company has a quick ratio of 2.60, a current ratio of 2.81 and a debt-to-equity ratio of 0.07.

Institutional Trading of HUTCHMED

Large investors have recently modified their holdings of the company. Rhumbline Advisers raised 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 buying an additional 564 shares during the period. Hennion & Walsh Asset Management Inc. lifted its holdings in HUTCHMED by 8.6% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 61,887 shares of the company’s stock valued at $1,060,000 after purchasing an additional 4,877 shares in the last quarter. Bellevue Group AG boosted its position in shares of HUTCHMED by 2.1% in the first quarter. Bellevue Group AG now owns 1,154,632 shares of the company’s stock worth $19,398,000 after purchasing an additional 23,521 shares during the period. M&G Plc bought a new stake in shares of HUTCHMED during the 1st quarter valued at $4,458,000. Finally, Russell Investments Group Ltd. increased its stake in HUTCHMED by 70.5% in the 1st quarter. Russell Investments Group Ltd. now owns 18,179 shares of the company’s stock worth $304,000 after buying an additional 7,515 shares in the last quarter. Institutional investors own 8.82% of the company’s stock.

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.