HUTCHMED (NASDAQ:HCM) Stock Rating Lowered by StockNews.com

HUTCHMED (NASDAQ:HCM) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Monday.

Separately, The Goldman Sachs Group raised their price target on HUTCHMED from $17.00 to $19.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st.

HUTCHMED Price Performance

HCM stock opened at $16.75 on Monday. The business has a 50-day moving average of $18.70 and a 200-day moving average of $18.63. HUTCHMED has a fifty-two week low of $11.93 and a fifty-two week high of $21.92. 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

Institutional investors and hedge funds have recently made changes to their positions in the business. Russell Investments Group Ltd. lifted its position in shares of HUTCHMED by 70.5% during the 1st quarter. Russell Investments Group Ltd. now owns 18,179 shares of the company’s stock valued at $304,000 after acquiring an additional 7,515 shares during the period. Bellevue Group AG grew its stake in HUTCHMED by 2.1% during the first quarter. Bellevue Group AG now owns 1,154,632 shares of the company’s stock worth $19,398,000 after buying an additional 23,521 shares in the last quarter. Hennion & Walsh Asset Management Inc. grew its stake in HUTCHMED by 8.6% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 61,887 shares of the company’s stock worth $1,060,000 after buying an additional 4,877 shares in the last quarter. Rhumbline Advisers raised its position in shares of HUTCHMED by 8.1% in the 2nd quarter. Rhumbline Advisers now owns 7,553 shares of the company’s stock valued at $129,000 after buying an additional 564 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its holdings in shares of HUTCHMED by 74.8% during the 2nd quarter. Renaissance Technologies LLC now owns 131,300 shares of the company’s stock worth $2,248,000 after acquiring an additional 56,200 shares during the period. Institutional investors and hedge funds own 8.82% of the company’s stock.

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.