HUTCHMED (NASDAQ:HCM) Shares Gap Up – Time to Buy?

Shares of HUTCHMED (China) Limited (NASDAQ:HCM) gapped up before the market opened on Friday . The stock had previously closed at $18.00, but opened at $18.74. HUTCHMED shares last traded at $18.85, with a volume of 16,689 shares traded.

Analyst Ratings Changes

Several equities research analysts recently commented on HCM shares. The Goldman Sachs Group boosted their price objective on shares of HUTCHMED from $17.00 to $19.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. StockNews.com lowered HUTCHMED from a “buy” rating to a “hold” rating in a report on Thursday, July 18th.

HUTCHMED Stock Performance

The stock’s fifty day moving average price is $18.64 and its 200-day moving average price is $18.65. 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 Trading of HUTCHMED

A number of hedge funds and other institutional investors have recently modified their holdings of HCM. Blue Trust Inc. increased its holdings in HUTCHMED by 638.2% during the third quarter. Blue Trust Inc. now owns 3,536 shares of the company’s stock worth $69,000 after buying an additional 3,057 shares during the last quarter. China Universal Asset Management Co. Ltd. lifted its stake in HUTCHMED by 63.7% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 5,966 shares of the company’s stock valued at $117,000 after purchasing an additional 2,321 shares during the last quarter. Rhumbline Advisers grew its holdings in 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 during the period. Cubist Systematic Strategies LLC bought a new stake in HUTCHMED in the second quarter valued at approximately $213,000. Finally, Vanguard Personalized Indexing Management LLC lifted its position 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 buying an additional 1,168 shares during the last quarter. Institutional investors and hedge funds 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.