HUTCHMED (NASDAQ:HCM) Shares Gap Down – What’s Next?

HUTCHMED (China) Limited (NASDAQ:HCM) gapped down prior to trading on Monday . The stock had previously closed at $15.69, but opened at $15.03. HUTCHMED shares last traded at $15.05, with a volume of 17,368 shares changing hands.

Analysts Set New Price Targets

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

HUTCHMED Price Performance

The firm has a 50 day moving average of $14.67 and a two-hundred day moving average of $16.57. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.68 and a current ratio of 2.81.

Institutional Investors Weigh In On HUTCHMED

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio lifted its stake in HUTCHMED by 49.6% in the fourth quarter. Public Employees Retirement System of Ohio now owns 2,710 shares of the company’s stock valued at $39,000 after buying an additional 899 shares during the last quarter. Bank of America Corp DE raised its stake in shares of HUTCHMED by 40.4% during the fourth quarter. Bank of America Corp DE now owns 22,723 shares of the company’s stock worth $327,000 after purchasing an additional 6,540 shares during the last quarter. Jane Street Group LLC raised its stake in shares of HUTCHMED by 54.7% during the fourth quarter. Jane Street Group LLC now owns 97,470 shares of the company’s stock worth $1,405,000 after purchasing an additional 34,473 shares during the last quarter. Marshall Wace LLP purchased a new stake in shares of HUTCHMED during the fourth quarter worth approximately $261,000. Finally, Barclays PLC raised its stake in shares of HUTCHMED by 1,483.6% during the fourth quarter. Barclays PLC now owns 2,407 shares of the company’s stock worth $35,000 after purchasing an additional 2,255 shares during the last quarter. Hedge funds and other institutional investors 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.