HUTCHMED (NASDAQ:HCM) Stock Price Crosses Below 50 Day Moving Average – Here’s Why

HUTCHMED (China) Limited Sponsored ADR (NASDAQ:HCM) crossed below its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $13.71 and traded as low as $11.38. HUTCHMED shares last traded at $11.52, with a volume of 139,099 shares.

Wall Street Analysts Forecast Growth

Several research analysts have commented on HCM shares. Wall Street Zen downgraded HUTCHMED from a “buy” rating to a “hold” rating in a research note on Saturday, March 7th. Bank of America cut their target price on HUTCHMED from $21.00 to $20.00 and set a “buy” rating for the company in a research note on Tuesday, March 10th. Morgan Stanley set a $13.60 target price on HUTCHMED in a research note on Thursday, May 28th. Finally, Weiss Ratings downgraded HUTCHMED from a “hold (c)” rating to a “hold (c-)” rating in a research note on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $16.80.

HUTCHMED Stock Down 1.8%

The company has a current ratio of 4.96, a quick ratio of 4.83 and a debt-to-equity ratio of 0.05. The stock has a 50-day moving average price of $13.61 and a 200-day moving average price of $14.11.

HUTCHMED (NASDAQ:HCM) last issued its quarterly earnings results on Friday, March 6th. The company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.50 by ($2.49). The firm had revenue of $135.42 million during the quarter, compared to analysts’ expectations of $290.50 million. On average, equities analysts forecast that HUTCHMED will post 0.4 earnings per share for the current year.

Institutional Trading of HUTCHMED

A number of large investors have recently modified their holdings of the business. State Street Corp boosted its position in shares of HUTCHMED by 1.2% during the 4th quarter. State Street Corp now owns 321,305 shares of the company’s stock valued at $4,283,000 after acquiring an additional 3,801 shares during the last quarter. M&G PLC boosted its position in shares of HUTCHMED by 26.7% during the 4th quarter. M&G PLC now owns 259,033 shares of the company’s stock valued at $3,367,000 after acquiring an additional 54,601 shares during the last quarter. Amundi boosted its position in shares of HUTCHMED by 4.0% during the 1st quarter. Amundi now owns 232,246 shares of the company’s stock valued at $3,474,000 after acquiring an additional 8,916 shares during the last quarter. Jane Street Group LLC boosted its position in shares of HUTCHMED by 128.0% during the 1st quarter. Jane Street Group LLC now owns 222,241 shares of the company’s stock valued at $3,343,000 after acquiring an additional 124,771 shares during the last quarter. Finally, UBS Group AG boosted its position in shares of HUTCHMED by 112.8% during the 3rd quarter. UBS Group AG now owns 137,000 shares of the company’s stock valued at $2,158,000 after acquiring an additional 72,614 shares during the last quarter. Institutional investors own 8.82% of the company’s stock.

About HUTCHMED

HUTCHMED (NASDAQ: HCM) is a fully integrated biopharmaceutical company focused on discovering, developing, manufacturing and commercializing targeted therapies and immunotherapies for the treatment of cancer and other diseases. The company leverages in-house capabilities in small-molecule chemistry, biologics engineering and translational medicine to advance candidates through all stages of development. HUTCHMED’s integrated model encompasses early discovery research, clinical development, regulatory filings and commercial launches, enabling seamless progression from laboratory to market.

HUTCHMED’s commercial portfolio includes several in-market oncology therapies approved in China, including fruquintinib for metastatic colorectal cancer, surufatinib for neuroendocrine tumors and savolitinib for non-small cell lung cancer.