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

Shares of HUTCHMED (China) Limited (NASDAQ:HCM) gapped down before the market opened on Thursday . The stock had previously closed at $14.18, but opened at $13.70. HUTCHMED shares last traded at $13.37, with a volume of 40,432 shares.

Analysts Set New Price Targets

Separately, StockNews.com downgraded shares of HUTCHMED from a “buy” rating to a “hold” rating in a report on Monday, November 18th.

HUTCHMED Stock Performance

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’s fifty day simple moving average is $15.69 and its 200 day simple moving average is $17.58.

Institutional Trading of HUTCHMED

Hedge funds and other institutional investors have recently made changes to their positions in the business. M&G PLC grew its stake in shares of HUTCHMED by 98.1% in the third quarter. M&G PLC now owns 267,231 shares of the company’s stock valued at $5,345,000 after buying an additional 132,333 shares in the last quarter. Renaissance Technologies LLC grew its stake in shares of HUTCHMED by 74.8% in the second quarter. Renaissance Technologies LLC now owns 131,300 shares of the company’s stock valued at $2,248,000 after buying an additional 56,200 shares in the last quarter. Jane Street Group LLC grew its stake in shares of HUTCHMED by 362.2% in the third quarter. Jane Street Group LLC now owns 62,997 shares of the company’s stock valued at $1,305,000 after buying an additional 49,366 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of HUTCHMED by 99.0% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 48,724 shares of the company’s stock valued at $952,000 after buying an additional 24,245 shares in the last quarter. Finally, Point72 Hong Kong Ltd bought a new position in shares of HUTCHMED in the third quarter valued at $421,000. 8.82% of the stock is currently owned by institutional investors and hedge funds.

HUTCHMED Company Profile

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.