HUTCHMED (NASDAQ:HCM) Trading 6.3% Higher – What’s Next?

HUTCHMED (China) Limited (NASDAQ:HCM)’s share price rose 6.3% during mid-day trading on Friday . The stock traded as high as $16.50 and last traded at $16.29. Approximately 70,518 shares traded hands during trading, a decline of 18% from the average daily volume of 85,795 shares. The stock had previously closed at $15.33.

Wall Street Analyst Weigh In

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

HUTCHMED Stock Up 5.1 %

The company has a fifty day moving average of $14.23 and a 200-day moving average of $16.86. The company has a current ratio of 2.81, a quick ratio of 2.68 and a debt-to-equity ratio of 0.07.

Institutional Investors Weigh In On HUTCHMED

Several institutional investors have recently bought and sold shares of the stock. Public Employees Retirement System of Ohio grew its holdings in HUTCHMED by 49.6% during the fourth quarter. Public Employees Retirement System of Ohio now owns 2,710 shares of the company’s stock worth $39,000 after buying an additional 899 shares in the last quarter. Bank of America Corp DE boosted its position in HUTCHMED by 40.4% in the fourth quarter. Bank of America Corp DE now owns 22,723 shares of the company’s stock worth $327,000 after purchasing an additional 6,540 shares during the last quarter. Jane Street Group LLC boosted its position in HUTCHMED by 54.7% in the fourth quarter. Jane Street Group LLC now owns 97,470 shares of the company’s stock worth $1,405,000 after purchasing an additional 34,473 shares during the last quarter. Marshall Wace LLP purchased a new position in HUTCHMED in the fourth quarter worth $261,000. Finally, Barclays PLC boosted its position in HUTCHMED by 1,483.6% in the fourth quarter. Barclays PLC now owns 2,407 shares of the company’s stock worth $35,000 after purchasing an additional 2,255 shares during the last quarter. Institutional investors own 8.82% of the company’s stock.

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.