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

HUTCHMED (China) Limited (NASDAQ:HCM)’s share price gapped down prior to trading on Thursday . The stock had previously closed at $14.18, but opened at $13.70. HUTCHMED shares last traded at $13.37, with a volume of 40,432 shares trading hands.

Wall Street Analyst Weigh In

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

HUTCHMED Price Performance

The stock has a 50 day moving average of $15.69 and a 200 day moving average of $17.58. 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 Inflows and Outflows

Several institutional investors have recently bought and sold shares of HCM. Jane Street Group LLC increased its stake 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 buying an additional 49,366 shares during the period. State Street Corp increased its stake in shares of HUTCHMED by 0.9% in the third quarter. State Street Corp now owns 349,524 shares of the company’s stock valued at $6,826,000 after buying an additional 3,078 shares during the period. Rhumbline Advisers increased its stake in shares of HUTCHMED by 8.1% in the second quarter. Rhumbline Advisers now owns 7,553 shares of the company’s stock valued at $129,000 after buying an additional 564 shares during the period. M&G PLC increased its stake in shares of HUTCHMED by 98.1% in the third quarter. M&G PLC now owns 267,231 shares of the company’s stock valued at $5,345,000 after buying an additional 132,333 shares during the period. Finally, Blue Trust Inc. increased its stake 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 period. Institutional investors and hedge funds own 8.82% of the company’s stock.

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.