HUTCHMED (NASDAQ:HCM) Stock Price Down 4.5% – Here’s What Happened

HUTCHMED (China) Limited (NASDAQ:HCM)’s stock price dropped 4.5% during trading on Tuesday . The stock traded as low as $15.01 and last traded at $15.10. Approximately 16,653 shares changed hands during mid-day trading, a decline of 82% from the average daily volume of 90,882 shares. The stock had previously closed at $15.81.

Analyst Ratings Changes

Separately, StockNews.com lowered HUTCHMED from a “buy” rating to a “hold” rating in a research note on Monday, November 18th.

HUTCHMED Trading Up 0.4 %

The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.68 and a current ratio of 2.81. The business’s 50 day simple moving average is $16.43 and its 200 day simple moving average is $17.81.

Institutional Investors Weigh In On HUTCHMED

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. M&G PLC raised its stake in shares of HUTCHMED by 98.1% in the 3rd quarter. M&G PLC now owns 267,231 shares of the company’s stock valued at $5,345,000 after acquiring an additional 132,333 shares during the period. Renaissance Technologies LLC increased its holdings 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 purchasing an additional 56,200 shares during the last quarter. Jane Street Group LLC raised its position 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 purchasing an additional 49,366 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its stake in HUTCHMED by 99.0% during 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 in the last quarter. Finally, Point72 Hong Kong Ltd purchased a new position in shares of HUTCHMED during the third quarter worth $421,000. Institutional investors and hedge funds 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.