HUTCHMED (NASDAQ:HCM) Shares Up 7.5% – Here’s Why

HUTCHMED (China) Limited (NASDAQ:HCM)’s stock price shot up 7.5% on Tuesday . The company traded as high as $16.44 and last traded at $16.17. 64,171 shares traded hands during mid-day trading, a decline of 40% from the average session volume of 106,190 shares. The stock had previously closed at $15.04.

Wall Street Analyst Weigh In

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

HUTCHMED Stock Down 1.0 %

The stock has a fifty day moving average price of $14.85 and a 200-day moving average price of $16.40. 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 Trading of HUTCHMED

A number of hedge funds have recently made changes to their positions in HCM. Public Employees Retirement System of Ohio acquired a new stake in HUTCHMED during the third quarter valued at $35,000. Barclays PLC increased its holdings 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 buying an additional 2,255 shares during the last quarter. Blue Trust Inc. increased its holdings in HUTCHMED by 99.9% in the fourth quarter. Blue Trust Inc. now owns 7,068 shares of the company’s stock worth $102,000 after buying an additional 3,532 shares during the last quarter. Summit Trail Advisors LLC raised its position in HUTCHMED by 14.4% during the fourth quarter. Summit Trail Advisors LLC now owns 13,090 shares of the company’s stock valued at $189,000 after acquiring an additional 1,647 shares in the last quarter. Finally, OLD Mission Capital LLC acquired a new stake in HUTCHMED in the fourth quarter valued at approximately $230,000. 8.82% of the stock is owned by hedge funds and other institutional investors.

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.