Hennion & Walsh Asset Management Inc. Increases Holdings in HUTCHMED (China) Limited (NASDAQ:HCM)

Hennion & Walsh Asset Management Inc. increased its stake in HUTCHMED (China) Limited (NASDAQ:HCM) by 2.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 57,010 shares of the company’s stock after acquiring an additional 1,388 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in HUTCHMED were worth $958,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. China Universal Asset Management Co. Ltd. raised its position in HUTCHMED by 353.7% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 3,593 shares of the company’s stock worth $65,000 after purchasing an additional 2,801 shares during the period. Hsbc Holdings PLC purchased a new stake in shares of HUTCHMED in the third quarter worth approximately $380,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of HUTCHMED during the 3rd quarter worth approximately $444,000. Finally, Baillie Gifford & Co. boosted its holdings in HUTCHMED by 7.2% during the 4th quarter. Baillie Gifford & Co. now owns 144,969 shares of the company’s stock valued at $2,625,000 after acquiring an additional 9,694 shares during the period. 8.82% of the stock is owned by institutional investors.

HUTCHMED Trading Up 2.6 %

Shares of NASDAQ HCM opened at $17.56 on Tuesday. HUTCHMED has a 52-week low of $11.60 and a 52-week high of $21.92. The stock has a 50 day moving average price of $18.88 and a 200 day moving average price of $16.91. The company has a current ratio of 2.72, a quick ratio of 2.60 and a debt-to-equity ratio of 0.06.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded HUTCHMED from a “hold” rating to a “buy” rating in a research report on Monday, June 10th. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $29.70.

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.