Wall Street Zen Downgrades HUTCHMED (NASDAQ:HCM) to Hold

Key Points

• HUTCHMED has been downgraded from a "buy" to a "hold" rating by Wall Street Zen, reflecting a shift in analysts' sentiment towards the company.
• Bank of America raised its target price for HUTCHMED shares from $27.00 to $28.00, while Zacks Research upgraded it to a "strong-buy" recently.
• Significant institutional investments have occurred, with firms like M&G PLC and Jane Street Group LLC increasing their stakes in HUTCHMED during recent quarters.

Wall Street Zen cut shares of HUTCHMED (NASDAQ:HCM - Free Report) from a buy rating to a hold rating in a research note issued to investors on Sunday.

Other research analysts also recently issued research reports about the company. HSBC downgraded HUTCHMED from a "buy" rating to a "hold" rating in a report on Tuesday, May 13th. Bank of America increased their target price on HUTCHMED from $27.00 to $28.00 and gave the stock a "buy" rating in a report on Tuesday, July 22nd. Finally, Zacks Research raised HUTCHMED to a "strong-buy" rating in a report on Monday, August 11th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $28.00.

HUTCHMED Price Performance

NASDAQ:HCM traded down $0.30 during trading hours on Friday, reaching $15.91. 24,509 shares of the stock were exchanged, compared to its average volume of 81,955. The company has a current ratio of 4.65, a quick ratio of 4.51 and a debt-to-equity ratio of 0.05. The firm has a 50 day simple moving average of $16.50 and a 200-day simple moving average of $15.22. HUTCHMED has a 52 week low of $11.51 and a 52 week high of $21.50.

Institutional Trading of HUTCHMED

Several large investors have recently added to or reduced their stakes in the business. M&G PLC increased its position in HUTCHMED by 0.4% in the 2nd quarter. M&G PLC now owns 259,617 shares of the company's stock valued at $3,894,000 after acquiring an additional 924 shares during the period. Jane Street Group LLC increased its position in HUTCHMED by 128.0% in 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 period. Renaissance Technologies LLC increased its position in HUTCHMED by 18.4% in the 4th quarter. Renaissance Technologies LLC now owns 188,539 shares of the company's stock valued at $2,717,000 after acquiring an additional 29,239 shares during the period. XY Capital Ltd increased its position in shares of HUTCHMED by 142.4% during the 1st quarter. XY Capital Ltd now owns 113,136 shares of the company's stock valued at $1,702,000 after purchasing an additional 66,460 shares during the period. Finally, Goldman Sachs Group Inc. increased its position in shares of HUTCHMED by 8.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 93,919 shares of the company's stock valued at $1,413,000 after purchasing an additional 7,342 shares during the period. 8.82% of the stock is currently owned by institutional investors and hedge funds.

About HUTCHMED

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.