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)'s stock price gapped up prior to trading 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 trading hands.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on HCM. HSBC lowered shares of HUTCHMED from a "buy" rating to a "hold" rating in a research note on Tuesday, May 13th. Bank of America lifted their price objective on shares of HUTCHMED from $27.00 to $28.00 and gave the company a "buy" rating in a research note on Tuesday, July 22nd. Finally, Wall Street Zen upgraded shares of HUTCHMED from a "buy" rating to a "strong-buy" rating in a research note on Saturday, July 26th.

HUTCHMED Price Performance

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

Institutional Trading of HUTCHMED

Hedge funds and other institutional investors have recently bought and sold shares of the business. Barclays PLC increased its stake in HUTCHMED by 1,483.6% during the 4th quarter. Barclays PLC now owns 2,407 shares of the company's stock valued at $35,000 after purchasing an additional 2,255 shares in the last quarter. Public Employees Retirement System of Ohio increased its stake 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 valued at $39,000 after purchasing an additional 899 shares in the last quarter. Summit Trail Advisors LLC increased its stake in HUTCHMED by 7.7% during the 1st 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. OLD Mission Capital LLC bought a new stake in HUTCHMED during the 4th quarter valued at $230,000. Finally, Vanguard Personalized Indexing Management LLC grew its stake in shares of HUTCHMED by 23.2% in 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 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.