HUTCHMED (NASDAQ:HCM) Stock Price Down 4.5% – Here’s Why

HUTCHMED (China) Limited (NASDAQ:HCM)’s stock price fell 4.5% during mid-day trading on Tuesday . The company traded as low as $15.01 and last traded at $15.10. 16,653 shares traded hands during mid-day trading, a decline of 82% from the average session volume of 90,882 shares. The stock had previously closed at $15.81.

Analysts Set New Price Targets

Separately, StockNews.com cut shares of HUTCHMED from a “buy” rating to a “hold” rating in a research note on Monday, November 18th.

HUTCHMED Trading Up 0.4 %

The company has a current ratio of 2.81, a quick ratio of 2.68 and a debt-to-equity ratio of 0.07. The business has a 50-day simple moving average of $16.43 and a 200-day simple moving average of $17.81.

Hedge Funds Weigh In On HUTCHMED

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio acquired a new position in HUTCHMED in the 3rd quarter valued at $35,000. Blue Trust Inc. raised its position in shares of HUTCHMED by 638.2% in the third quarter. Blue Trust Inc. now owns 3,536 shares of the company’s stock valued at $69,000 after buying an additional 3,057 shares during the last quarter. China Universal Asset Management Co. Ltd. lifted its stake in shares of HUTCHMED by 63.7% in the third quarter. China Universal Asset Management Co. Ltd. now owns 5,966 shares of the company’s stock worth $117,000 after buying an additional 2,321 shares in the last quarter. Rhumbline Advisers boosted its position in HUTCHMED by 8.1% during the second quarter. Rhumbline Advisers now owns 7,553 shares of the company’s stock worth $129,000 after acquiring an additional 564 shares during the last quarter. Finally, Cubist Systematic Strategies LLC purchased a new stake in HUTCHMED during the 2nd quarter valued at about $213,000. 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.