HUTCHMED (NASDAQ:HCM) Sees Unusually-High Trading Volume – Time to Buy?

HUTCHMED (China) Limited (NASDAQ:HCM) saw unusually-high trading volume on Friday . Approximately 96,135 shares were traded during trading, a decline of 23% from the previous session’s volume of 124,271 shares.The stock last traded at $20.44 and had previously closed at $19.42.

Analysts Set New Price Targets

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

HUTCHMED Stock Up 7.6 %

The firm has a 50-day moving average price of $18.37 and a 200-day moving average price of $18.45. 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 Trading of HUTCHMED

Several hedge funds have recently added to or reduced their stakes in the stock. Blue Trust Inc. grew its holdings in HUTCHMED by 638.2% during the third quarter. Blue Trust Inc. now owns 3,536 shares of the company’s stock valued at $69,000 after purchasing an additional 3,057 shares during the period. Cubist Systematic Strategies LLC purchased a new position in shares of HUTCHMED during the 2nd quarter valued at $213,000. Point72 Asset Management L.P. bought a new position in shares of HUTCHMED during the 2nd quarter worth $279,000. Vanguard Personalized Indexing Management LLC increased its holdings in HUTCHMED by 9.7% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 13,216 shares of the company’s stock worth $226,000 after acquiring an additional 1,168 shares during the last quarter. Finally, Renaissance Technologies LLC raised its stake in HUTCHMED by 74.8% in the 2nd quarter. Renaissance Technologies LLC now owns 131,300 shares of the company’s stock valued at $2,248,000 after acquiring an additional 56,200 shares during the period. Institutional investors own 8.82% of the company’s stock.

HUTCHMED Company Profile

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.