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

HUTCHMED (China) Limited (NASDAQ:HCM)’s share price gapped up prior to trading on Wednesday . The stock had previously closed at $15.74, but opened at $16.74. HUTCHMED shares last traded at $16.81, with a volume of 27,294 shares changing hands.

Analyst Upgrades and Downgrades

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

HUTCHMED Trading Up 7.0 %

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 company’s fifty day moving average price is $14.26 and its 200 day moving average price is $16.78.

Institutional Investors Weigh In On HUTCHMED

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Blue Trust Inc. increased its position in HUTCHMED by 638.2% during the 3rd quarter. Blue Trust Inc. now owns 3,536 shares of the company’s stock worth $69,000 after purchasing an additional 3,057 shares in the last quarter. China Universal Asset Management Co. Ltd. lifted its stake in shares of HUTCHMED by 63.7% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 5,966 shares of the company’s stock valued at $117,000 after purchasing an additional 2,321 shares during the period. M&G PLC boosted its holdings in HUTCHMED by 98.1% in the third quarter. M&G PLC now owns 267,231 shares of the company’s stock worth $5,345,000 after acquiring an additional 132,333 shares in the last quarter. Crossmark Global Holdings Inc. bought a new stake in HUTCHMED during the 3rd quarter valued at $328,000. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its stake in HUTCHMED by 99.0% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 48,724 shares of the company’s stock valued at $952,000 after purchasing an additional 24,245 shares during the last quarter. 8.82% of the stock is currently owned by institutional investors.

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.