HUTCHMED (NASDAQ:HCM) Shares Down 5.7% – Here’s What Happened

Shares of HUTCHMED (China) Limited (NASDAQ:HCM) fell 5.7% during mid-day trading on Friday . The company traded as low as $15.06 and last traded at $15.22. 21,656 shares traded hands during trading, a decline of 80% from the average session volume of 108,708 shares. The stock had previously closed at $16.13.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded HUTCHMED from a “hold” rating to a “buy” rating in a report on Friday.

HUTCHMED Price Performance

The company has a debt-to-equity ratio of 0.07, a current ratio of 2.81 and a quick ratio of 2.68. The business’s 50-day moving average price is $14.69 and its two-hundred day moving average price is $16.50.

Institutional Trading of HUTCHMED

A number of hedge funds and other institutional investors have recently modified their holdings of HCM. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of HUTCHMED by 99.0% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 48,724 shares of the company’s stock worth $952,000 after purchasing an additional 24,245 shares during the last quarter. Point72 Hong Kong Ltd acquired a new position in HUTCHMED in the third quarter valued at $421,000. State Street Corp lifted its holdings in HUTCHMED by 0.9% in the third quarter. State Street Corp now owns 349,524 shares of the company’s stock valued at $6,826,000 after buying an additional 3,078 shares during the period. Jane Street Group LLC lifted its holdings in HUTCHMED by 362.2% in the third quarter. Jane Street Group LLC now owns 62,997 shares of the company’s stock valued at $1,305,000 after buying an additional 49,366 shares during the period. Finally, Public Employees Retirement System of Ohio acquired a new position in HUTCHMED in the third quarter valued at $35,000. Institutional investors own 8.82% of the company’s stock.

HUTCHMED Company Profile

HUTCHMED (China) Ltd. is a holding company, which engages in the research and development, manufacture, and sale of pharmaceuticals and health-oriented consumer products. It operates through the Oncology/Immunology and Other Ventures segments. The Oncology/Immunology segment includes the discovery, development, and commercialization of targeted therapies and immunotherapies for the treatment of cancer and immunological diseases.