HUTCHMED (NASDAQ:HCM) Shares Gap Down – Should You Sell?

HUTCHMED (China) Limited (NASDAQ:HCM) shares gapped down before the market opened on Friday . The stock had previously closed at $18.43, but opened at $17.02. HUTCHMED shares last traded at $16.93, with a volume of 25,371 shares traded.

Analyst Ratings Changes

HCM has been the topic of several recent research reports. StockNews.com lowered HUTCHMED from a “buy” rating to a “hold” rating in a research report on Monday, November 18th. The Goldman Sachs Group increased their target price on HUTCHMED from $17.00 to $19.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st.

HUTCHMED Trading Down 8.2 %

The company’s fifty day simple moving average is $18.87 and its two-hundred day simple moving average is $18.52. The company has a quick ratio of 2.68, a current ratio of 2.81 and a debt-to-equity ratio of 0.07.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Public Employees Retirement System of Ohio bought a new position in shares of HUTCHMED during the 3rd quarter valued at about $35,000. Blue Trust Inc. raised its holdings in HUTCHMED by 638.2% during the 3rd quarter. Blue Trust Inc. now owns 3,536 shares of the company’s stock worth $69,000 after buying an additional 3,057 shares during the period. China Universal Asset Management Co. Ltd. lifted its stake in HUTCHMED by 63.7% in the third quarter. China Universal Asset Management Co. Ltd. now owns 5,966 shares of the company’s stock valued at $117,000 after buying an additional 2,321 shares in the last quarter. Rhumbline Advisers boosted its holdings 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. Finally, Cubist Systematic Strategies LLC bought a new stake in shares of HUTCHMED during the second quarter worth $213,000. 8.82% of the stock is currently owned by institutional investors.

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.