HUTCHMED (NASDAQ:HCM) Shares Gap Down - Time to Sell?

Key Points

• HUTCHMED's stock price gapped down from $16.66 to $16.26, closing at $16.32, amid a trading volume of 5,982 shares.
• Analyst ratings for HUTCHMED have varied, with Morgan Stanley downgrading the stock to "underweight" and reducing the target price to $13.75, while Bank of America upgraded it to a "buy" with a target price of $28.00.
• Institutional investors have increased their stake in HUTCHMED, with significant purchases from Vanguard Personalized Indexing Management LLC and Vident Advisory LLC, raising their holdings by 23.2% and 78.3%, respectively.

HUTCHMED (China) Limited Sponsored ADR (NASDAQ:HCM - Get Free Report)'s stock price gapped down prior to trading on Tuesday . The stock had previously closed at $16.66, but opened at $16.26. HUTCHMED shares last traded at $16.32, with a volume of 5,982 shares traded.

Analyst Ratings Changes

A number of equities analysts have issued reports on HCM shares. Morgan Stanley cut shares of HUTCHMED from an "equal weight" rating to an "underweight" rating and cut their target price for the stock from $18.00 to $13.75 in a report on Monday. Bank of America raised their target price on shares of HUTCHMED from $27.00 to $28.00 and gave the stock a "buy" rating in a report on Tuesday, July 22nd. Zacks Research cut shares of HUTCHMED from a "strong-buy" rating to a "hold" rating in a report on Tuesday, September 9th. Finally, Wall Street Zen cut HUTCHMED from a "buy" rating to a "hold" rating in a report on Sunday, September 7th. One research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $20.88.

HUTCHMED Price Performance

The company has a quick ratio of 4.51, a current ratio of 4.65 and a debt-to-equity ratio of 0.05. The firm's 50 day moving average is $16.61 and its 200-day moving average is $15.43.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Public Employees Retirement System of Ohio lifted its position in HUTCHMED by 49.6% during the 4th quarter. Public Employees Retirement System of Ohio now owns 2,710 shares of the company's stock worth $39,000 after acquiring an additional 899 shares during the last quarter. Summit Trail Advisors LLC lifted its position in HUTCHMED by 7.7% during the 1st quarter. Summit Trail Advisors LLC now owns 14,094 shares of the company's stock worth $212,000 after acquiring an additional 1,004 shares during the last quarter. Vanguard Personalized Indexing Management LLC lifted its position in HUTCHMED by 23.2% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 15,490 shares of the company's stock worth $233,000 after acquiring an additional 2,916 shares during the last quarter. Ameriprise Financial Inc. lifted its position in HUTCHMED by 4.7% during the 2nd quarter. Ameriprise Financial Inc. now owns 15,519 shares of the company's stock worth $234,000 after acquiring an additional 698 shares during the last quarter. Finally, Vident Advisory LLC increased its holdings in shares of HUTCHMED by 78.3% during the 1st quarter. Vident Advisory LLC now owns 19,728 shares of the company's stock worth $297,000 after purchasing an additional 8,664 shares during the period. Institutional investors and hedge funds own 8.82% of the company's stock.

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.

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