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

HUTCHMED (China) Limited (NASDAQ:HCM)’s stock price gapped down before the market opened on Thursday . The stock had previously closed at $20.82, but opened at $19.90. HUTCHMED shares last traded at $19.73, with a volume of 12,115 shares traded.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. The Goldman Sachs Group boosted their price target on HUTCHMED from $17.00 to $19.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st. StockNews.com lowered HUTCHMED from a “buy” rating to a “hold” rating in a research note on Thursday, July 18th.

HUTCHMED Stock Performance

The company has a quick ratio of 2.68, a current ratio of 2.81 and a debt-to-equity ratio of 0.07. The business has a 50 day moving average of $18.19 and a 200-day moving average of $18.23.

Institutional Investors Weigh In On HUTCHMED

A number of institutional investors and hedge funds have recently bought and sold shares of HCM. Hennion & Walsh Asset Management Inc. raised its holdings in HUTCHMED by 2.5% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 57,010 shares of the company’s stock valued at $958,000 after acquiring an additional 1,388 shares during the last quarter. China Universal Asset Management Co. Ltd. raised its holdings in HUTCHMED by 65.1% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 5,933 shares of the company’s stock valued at $100,000 after acquiring an additional 2,340 shares during the last quarter. BNP Paribas Financial Markets raised its holdings in HUTCHMED by 54.9% in the 1st quarter. BNP Paribas Financial Markets now owns 42,926 shares of the company’s stock valued at $721,000 after acquiring an additional 15,221 shares during the last quarter. Russell Investments Group Ltd. raised its holdings in HUTCHMED by 70.5% in the 1st quarter. Russell Investments Group Ltd. now owns 18,179 shares of the company’s stock valued at $304,000 after acquiring an additional 7,515 shares during the last quarter. Finally, M&G Plc acquired a new position in HUTCHMED in the 1st quarter valued at $4,458,000. Hedge funds and other institutional investors own 8.82% of the company’s stock.

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.