HUTCHMED (NASDAQ:HCM) Sees Unusually-High Trading Volume – Time to Buy?

HUTCHMED (China) Limited (NASDAQ:HCM) shares saw strong trading volume on Thursday . 60,497 shares changed hands during trading, a decline of 30% from the previous session’s volume of 86,743 shares.The stock last traded at $13.30 and had previously closed at $13.85.

Wall Street Analysts Forecast Growth

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

HUTCHMED Trading Up 6.6 %

The stock has a 50-day moving average of $15.88 and a 200 day moving average of $17.66. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.68 and a current ratio of 2.81.

Institutional Investors Weigh In On HUTCHMED

Several hedge funds and other institutional investors have recently bought and sold shares of HCM. Public Employees Retirement System of Ohio acquired a new position in shares of HUTCHMED in the 3rd quarter valued at $35,000. 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 valued at $69,000 after buying an additional 3,057 shares during the period. China Universal Asset Management Co. Ltd. lifted its position in HUTCHMED by 63.7% in the third quarter. China Universal Asset Management Co. Ltd. now owns 5,966 shares of the company’s stock valued at $117,000 after buying an additional 2,321 shares during the last quarter. Rhumbline Advisers boosted its stake in HUTCHMED by 8.1% during 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. Finally, Cubist Systematic Strategies LLC acquired a new stake in shares of HUTCHMED during the second quarter valued at about $213,000. 8.82% of the stock is currently owned by institutional investors and hedge funds.

About HUTCHMED

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.