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

HUTCHMED (China) Limited (NASDAQ:HCM) gapped down prior to trading on Monday . The stock had previously closed at $15.58, but opened at $15.18. HUTCHMED shares last traded at $14.85, with a volume of 12,786 shares traded.

Analyst Upgrades and Downgrades

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

HUTCHMED Stock Performance

The firm has a 50-day moving average of $18.42 and a 200-day moving average of $18.25. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.81 and a quick ratio of 2.68.

Institutional Investors Weigh In On HUTCHMED

Several institutional investors have recently bought and sold shares of HCM. Public Employees Retirement System of Ohio purchased a new position in HUTCHMED in the third quarter valued at $35,000. Blue Trust Inc. increased its holdings in shares of HUTCHMED by 638.2% in the 3rd quarter. Blue Trust Inc. now owns 3,536 shares of the company’s stock valued at $69,000 after acquiring an additional 3,057 shares during the period. China Universal Asset Management Co. Ltd. increased its holdings 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 acquiring an additional 2,321 shares during the period. Rhumbline Advisers increased its holdings in shares of HUTCHMED by 8.1% in the 2nd quarter. Rhumbline Advisers now owns 7,553 shares of the company’s stock valued at $129,000 after acquiring an additional 564 shares during the period. Finally, Cubist Systematic Strategies LLC purchased a new position in HUTCHMED in the 2nd quarter valued at $213,000. 8.82% of the stock is currently owned by institutional investors and hedge funds.

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.