HUTCHMED (NASDAQ:HCM) Shares Gap Up - Should You Buy?

Key Points

• Shares of HUTCHMED (NASDAQ:HCM) gapped up from a previous close of $17.98 to an opening price of $18.77, currently trading at $19.11 with a volume of over 21,800 shares.
• Recent analyst ratings show a mix of sentiment; while Wall Street Zen upgraded HUTCHMED to a "strong-buy," HSBC downgraded it to "hold," highlighting polarized views in the market.
• Institutional investors have significantly increased their holdings in HUTCHMED, with firms like Jane Street Group and Renaissance Technologies notably boosting their positions by over 128% and 18%, respectively.

HUTCHMED (China) Limited Sponsored ADR (NASDAQ:HCM - Get Free Report) shares gapped up before the market opened on Tuesday . The stock had previously closed at $17.98, but opened at $18.77. HUTCHMED shares last traded at $19.11, with a volume of 21,844 shares.

Wall Street Analysts Forecast Growth

HCM has been the subject of several recent analyst reports. Bank of America increased their price objective on shares of HUTCHMED from $27.00 to $28.00 and gave the stock a "buy" rating in a research report on Tuesday, July 22nd. HSBC cut shares of HUTCHMED from a "buy" rating to a "hold" rating in a research report on Tuesday, May 13th. Finally, Wall Street Zen upgraded shares of HUTCHMED from a "buy" rating to a "strong-buy" rating in a research report on Saturday, July 26th.

HUTCHMED Stock Performance

The company has a current ratio of 2.83, a quick ratio of 2.70 and a debt-to-equity ratio of 0.08. The business's 50-day moving average is $15.99 and its two-hundred day moving average is $14.98.

Institutional Trading of HUTCHMED

Several hedge funds have recently added to or reduced their stakes in the stock. Vanguard Personalized Indexing Management LLC increased its stake in shares of HUTCHMED by 23.2% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 15,490 shares of the company's stock worth $233,000 after purchasing an additional 2,916 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in shares of HUTCHMED by 8.5% in the first quarter. Goldman Sachs Group Inc. now owns 93,919 shares of the company's stock worth $1,413,000 after purchasing an additional 7,342 shares in the last quarter. Jane Street Group LLC increased its stake in shares of HUTCHMED by 128.0% in the first quarter. Jane Street Group LLC now owns 222,241 shares of the company's stock worth $3,343,000 after purchasing an additional 124,771 shares in the last quarter. Vident Advisory LLC increased its stake in shares of HUTCHMED by 78.3% in the first quarter. Vident Advisory LLC now owns 19,728 shares of the company's stock worth $297,000 after purchasing an additional 8,664 shares in the last quarter. Finally, XY Capital Ltd increased its stake in shares of HUTCHMED by 142.4% in the first quarter. XY Capital Ltd now owns 113,136 shares of the company's stock worth $1,702,000 after purchasing an additional 66,460 shares in the last quarter. Institutional investors 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.