HUTCHMED (NASDAQ:HCM) Sees Strong Trading Volume

Shares of HUTCHMED (China) Limited (NASDAQ:HCM) saw strong trading volume on Wednesday . 93,397 shares changed hands during mid-day trading, a decline of 24% from the previous session’s volume of 123,022 shares.The stock last traded at $20.47 and had previously closed at $20.00.

Analysts Set New Price Targets

A number of research analysts recently issued reports on HCM shares. The Goldman Sachs Group raised their target price on shares of HUTCHMED from $17.00 to $19.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. StockNews.com downgraded HUTCHMED from a “buy” rating to a “hold” rating in a research report on Thursday, July 18th.

HUTCHMED Price Performance

The business’s 50 day simple moving average is $18.06 and its 200 day simple moving average is $18.17. 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 Inflows and Outflows

A number of institutional investors have recently modified their holdings of HCM. China Universal Asset Management Co. Ltd. lifted its position in HUTCHMED by 65.1% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 5,933 shares of the company’s stock worth $100,000 after buying an additional 2,340 shares in the last quarter. Rhumbline Advisers lifted its position in shares of HUTCHMED by 8.1% during the second quarter. Rhumbline Advisers now owns 7,553 shares of the company’s stock worth $129,000 after purchasing an additional 564 shares in the last quarter. Cubist Systematic Strategies LLC bought a new stake in shares of HUTCHMED during the second quarter valued at approximately $213,000. Vanguard Personalized Indexing Management LLC increased its holdings in shares of HUTCHMED by 9.7% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 13,216 shares of the company’s stock valued at $226,000 after purchasing an additional 1,168 shares in the last quarter. Finally, Point72 Asset Management L.P. bought a new position in HUTCHMED in the 2nd quarter worth approximately $279,000. Institutional investors 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.