HUTCHMED (NASDAQ:HCM) Shares Gap Up – Still a Buy?

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 traded.

Analysts Set New Price Targets

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

HUTCHMED Price Performance

The stock’s 50-day moving average is $14.26 and its two-hundred day moving average is $16.78. 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 Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. State Street Corp lifted its holdings in HUTCHMED by 0.9% during the 3rd quarter. State Street Corp now owns 349,524 shares of the company’s stock valued at $6,826,000 after buying an additional 3,078 shares in the last quarter. M&G PLC lifted its holdings in shares of HUTCHMED by 98.1% during the third quarter. M&G PLC now owns 267,231 shares of the company’s stock worth $5,345,000 after purchasing an additional 132,333 shares during the period. Renaissance Technologies LLC raised its holdings in shares of HUTCHMED by 18.4% during the fourth quarter. Renaissance Technologies LLC now owns 188,539 shares of the company’s stock worth $2,717,000 after purchasing an additional 29,239 shares during the last quarter. Jane Street Group LLC boosted its position in HUTCHMED by 54.7% in the 4th 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 in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its position 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 worth $952,000 after acquiring an additional 24,245 shares during the period. Hedge funds and other institutional investors own 8.82% of the company’s stock.

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.