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

HUTCHMED (China) Limited (NASDAQ:HCM) shares gapped down before the market opened on Tuesday . The stock had previously closed at $15.09, but opened at $14.64. HUTCHMED shares last traded at $14.70, with a volume of 6,976 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised shares of HUTCHMED from a “hold” rating to a “buy” rating in a report on Friday, March 21st.

HUTCHMED Trading Down 2.7 %

The company’s fifty day moving average is $14.70 and its two-hundred day moving average is $16.44. The company has a quick ratio of 2.68, a current ratio of 2.81 and a debt-to-equity ratio of 0.07.

Institutional Investors Weigh In On HUTCHMED

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Jane Street Group LLC increased its stake in shares of HUTCHMED by 362.2% in the 3rd quarter. Jane Street Group LLC now owns 62,997 shares of the company’s stock valued at $1,305,000 after acquiring an additional 49,366 shares during the last quarter. State Street Corp raised its holdings in HUTCHMED by 0.9% in the third quarter. State Street Corp now owns 349,524 shares of the company’s stock worth $6,826,000 after purchasing an additional 3,078 shares during the period. ABC Arbitrage SA bought a new position in shares of HUTCHMED during the fourth quarter worth $500,000. XY Capital Ltd acquired a new position in shares of HUTCHMED in the 4th quarter valued at $673,000. Finally, Crossmark Global Holdings Inc. grew its holdings in shares of HUTCHMED by 10.7% in the 4th quarter. Crossmark Global Holdings Inc. now owns 18,591 shares of the company’s stock valued at $268,000 after buying an additional 1,799 shares during the period. 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.