HUTCHMED (NASDAQ:HCM) Shares Down 4%

HUTCHMED (China) Limited (NASDAQ:HCM) fell 4% during trading on Friday . The stock traded as low as $16.20 and last traded at $16.20. 21,337 shares traded hands during mid-day trading, a decline of 82% from the average session volume of 119,082 shares. The stock had previously closed at $16.87.

Analysts Set New Price Targets

Several research firms have commented on HCM. StockNews.com upgraded shares of HUTCHMED from a “hold” rating to a “buy” rating in a research report on Wednesday, March 27th. Cantor Fitzgerald restated an “overweight” rating on shares of HUTCHMED in a research report on Friday, January 12th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, HUTCHMED has a consensus rating of “Moderate Buy” and a consensus price target of $29.70.

HUTCHMED Stock Down 3.0 %

The firm’s fifty day moving average is $15.26 and its 200-day moving average is $16.69. The company has a current ratio of 2.72, a quick ratio of 2.60 and a debt-to-equity ratio of 0.06.

Hedge Funds Weigh In On HUTCHMED

Institutional investors have recently modified their holdings of the stock. Acadian Asset Management LLC acquired a new stake in shares of HUTCHMED during the 3rd quarter worth approximately $3,268,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of HUTCHMED during the 3rd quarter worth approximately $444,000. Hsbc Holdings PLC acquired a new stake in shares of HUTCHMED during the 3rd quarter worth approximately $380,000. Vanguard Personalized Indexing Management LLC acquired a new stake in shares of HUTCHMED during the 3rd quarter worth approximately $196,000. Finally, Hennion & Walsh Asset Management Inc. grew its position in shares of HUTCHMED by 89.5% during the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 51,735 shares of the company’s stock worth $876,000 after buying an additional 24,437 shares during the period. 8.82% of the stock is owned by institutional investors.

HUTCHMED Company Profile

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.