HUTCHMED (NASDAQ:HCM) Shares Gap Up - Here's What Happened

Key Points

• HUTCHMED shares experienced a gap up, opening at $17.65 after a previous close of $16.37, and currently trade at $18.11 with a volume of 20,887 shares.
• Analysts have mixed ratings for HUTCHMED, with Bank of America raising their target price to $28.00, while Zacks Research and Wall Street Zen downgraded their ratings to "hold."
• The company's stock has a strong financial position with a debt-to-equity ratio of 0.05, and its institutional ownership is reported at 8.82%.

HUTCHMED (China) Limited Sponsored ADR (NASDAQ:HCM - Get Free Report)'s stock price gapped up prior to trading on Friday . The stock had previously closed at $16.37, but opened at $17.65. HUTCHMED shares last traded at $18.11, with a volume of 20,887 shares traded.

Wall Street Analysts Forecast Growth

HCM has been the subject of several research reports. Wall Street Zen lowered HUTCHMED from a "buy" rating to a "hold" rating in a research report on Sunday, September 7th. Zacks Research lowered HUTCHMED from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, September 9th. Finally, Bank of America increased their target price on HUTCHMED from $27.00 to $28.00 and gave the stock a "buy" rating in a research report on Tuesday, July 22nd. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $28.00.

HUTCHMED Trading Up 0.9%

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 company has a 50-day moving average of $16.53 and a two-hundred day moving average of $15.42.

Hedge Funds Weigh In On HUTCHMED

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