HUTCHMED (NASDAQ:HCM) Shares Gap Up – What’s Next?

HUTCHMED (China) Limited (NASDAQ:HCM) shares gapped up prior to trading on Friday . The stock had previously closed at $13.32, but opened at $13.99. HUTCHMED shares last traded at $14.21, with a volume of 21,761 shares.

Wall Street Analysts Forecast Growth

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

HUTCHMED Stock Up 6.4 %

The company has a current ratio of 2.81, a quick ratio of 2.68 and a debt-to-equity ratio of 0.07. The firm has a fifty day moving average price of $15.96 and a two-hundred day moving average price of $17.68.

Hedge Funds Weigh In On HUTCHMED

Institutional investors and hedge funds have recently modified their holdings of the stock. M&G PLC boosted its position in shares of HUTCHMED by 98.1% during the third quarter. M&G PLC now owns 267,231 shares of the company’s stock valued at $5,345,000 after buying an additional 132,333 shares during the last quarter. Renaissance Technologies LLC boosted its position in shares of HUTCHMED by 74.8% during the second quarter. Renaissance Technologies LLC now owns 131,300 shares of the company’s stock valued at $2,248,000 after buying an additional 56,200 shares during the last quarter. Jane Street Group LLC boosted its position in shares of HUTCHMED by 362.2% during 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 last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of HUTCHMED by 99.0% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 48,724 shares of the company’s stock valued at $952,000 after buying an additional 24,245 shares during the last quarter. Finally, Point72 Hong Kong Ltd purchased a new stake in shares of HUTCHMED during the third quarter valued at $421,000. 8.82% of the stock is currently owned by institutional investors.

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.