HUTCHMED (NASDAQ:HCM) Sees Unusually-High Trading Volume

HUTCHMED (China) Limited (NASDAQ:HCM) shares saw an uptick in trading volume on Wednesday . 116,959 shares traded hands during trading, a decline of 3% from the previous session’s volume of 120,456 shares.The stock last traded at $16.41 and had previously closed at $16.68.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on HCM shares. Cantor Fitzgerald reissued an “overweight” rating on shares of HUTCHMED in a research report on Friday, January 12th. StockNews.com raised HUTCHMED from a “hold” rating to a “buy” rating in a research note on Wednesday, March 27th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, HUTCHMED currently has a consensus rating of “Moderate Buy” and an average target price of $29.70.

HUTCHMED Stock Performance

The business has a 50-day moving average of $15.87 and a 200-day moving average of $16.75. The company has a quick ratio of 2.60, a current ratio of 2.72 and a debt-to-equity ratio of 0.06.

Institutional Investors Weigh In On HUTCHMED

A number of institutional investors and hedge funds have recently modified their holdings of HCM. Goldman Sachs Group Inc. raised its stake in HUTCHMED by 15.2% in the 4th quarter. Goldman Sachs Group Inc. now owns 475,370 shares of the company’s stock valued at $8,609,000 after acquiring an additional 62,762 shares during the period. FIL Ltd raised its position in shares of HUTCHMED by 6.2% in the fourth quarter. FIL Ltd now owns 75,993 shares of the company’s stock valued at $1,376,000 after purchasing an additional 4,452 shares during the period. Cubist Systematic Strategies LLC bought a new position in shares of HUTCHMED in the fourth quarter valued at about $406,000. Sei Investments Co. bought a new stake in shares of HUTCHMED during the 4th quarter worth about $197,000. Finally, Envestnet Asset Management Inc. acquired a new position in HUTCHMED in the 4th quarter valued at about $274,000. 8.82% of the stock is owned by institutional investors.

About HUTCHMED

HUTCHMED (China) Limited, together with its subsidiaries, discovers, develops, and commercializes targeted therapeutics and immunotherapies for cancer and immunological diseases in Hong Kong and internationally. The company develops Savolitinib for the treatment of non-small cell lung cancer (NSCLC), papillary renal cell carcinoma (RCC), and gastric cancer (GC); and Fruquintinib, an inhibitor for colorectal cancer (CRC), breast cancer, gastric cancer, microsatellite stable-CRC endometrial cancer (EMC), NSCLC, RCC, gastrointestinal, cervical, and solid tumors.