HUTCHMED (NASDAQ:HCM) Stock Price Passes Below 50 Day Moving Average – What’s Next?

HUTCHMED (China) Limited (NASDAQ:HCM)’s share price crossed below its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $16.15 and traded as low as $14.87. HUTCHMED shares last traded at $15.01, with a volume of 37,665 shares changing hands.

Analyst Upgrades and Downgrades

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

HUTCHMED Trading Up 3.4 %

The company has a fifty day simple moving average of $16.15 and a 200-day simple moving average of $17.74. 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

A number of institutional investors and hedge funds have recently modified their holdings of the stock. M&G PLC lifted its position in shares of HUTCHMED by 98.1% in the 3rd quarter. M&G PLC now owns 267,231 shares of the company’s stock valued at $5,345,000 after acquiring an additional 132,333 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in shares of HUTCHMED by 74.8% in the second quarter. Renaissance Technologies LLC now owns 131,300 shares of the company’s stock valued at $2,248,000 after purchasing an additional 56,200 shares in the last quarter. Jane Street Group LLC lifted its holdings in shares of HUTCHMED by 362.2% in the third quarter. Jane Street Group LLC now owns 62,997 shares of the company’s stock valued at $1,305,000 after purchasing an additional 49,366 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of HUTCHMED by 99.0% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 48,724 shares of the company’s stock worth $952,000 after buying an additional 24,245 shares during the period. Finally, Point72 Hong Kong Ltd purchased a new position in shares of HUTCHMED during the third quarter valued at $421,000. 8.82% of the stock is owned by institutional investors and hedge funds.

About HUTCHMED

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.