HUTCHMED (NASDAQ:HCM) Stock Price Down 6% - Here's Why

Key Points

• HUTCHMED shares fell 6% on Friday, trading as low as $10.87 and closing well below the prior close of $11.61 on lighter-than-normal volume.
• Analyst sentiment has turned mixed to cautious: Bank of America cut its price target to $17 while still rating the stock a buy, and Weiss Ratings downgraded it to sell. The overall consensus rating is currently Hold with a $15.30 price target.
• The company remains financially solid on paper, with a current ratio of 4.96, quick ratio of 4.83, and low debt-to-equity ratio of 0.05. Institutional ownership stands at 8.82%, with several hedge funds recently adding to their positions.

HUTCHMED (China) Limited Sponsored ADR (NASDAQ:HCM - Get Free Report) shares dropped 6% during trading on Friday . The stock traded as low as $10.87 and last traded at $10.9150. Approximately 4,355 shares changed hands during trading, a decline of 90% from the average daily volume of 41,652 shares. The stock had previously closed at $11.61.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on HCM shares. Bank of America decreased their price objective on HUTCHMED from $20.00 to $17.00 and set a "buy" rating for the company in a research report on Tuesday, July 7th. Weiss Ratings lowered HUTCHMED from a "hold (c-)" rating to a "sell (d+)" rating in a report on Monday, June 29th. Finally, Morgan Stanley set a $13.60 price target on HUTCHMED in a research note on Thursday, May 28th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has given a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $15.30.

HUTCHMED Trading Down 6.4%

The business's 50 day moving average price is $11.29 and its 200-day moving average price is $13.42. The company has a current ratio of 4.96, a quick ratio of 4.83 and a debt-to-equity ratio of 0.05.

Hedge Funds Weigh In On HUTCHMED

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. UBS Group AG lifted its holdings in shares of HUTCHMED by 112.8% in the 3rd quarter. UBS Group AG now owns 137,000 shares of the company's stock valued at $2,158,000 after buying an additional 72,614 shares during the period. Amundi boosted its stake in shares of HUTCHMED by 41.9% in the third quarter. Amundi now owns 223,330 shares of the company's stock valued at $3,620,000 after buying an additional 65,898 shares in the last quarter. XY Capital Ltd grew its holdings in HUTCHMED by 9.2% during the fourth quarter. XY Capital Ltd now owns 57,610 shares of the company's stock worth $768,000 after acquiring an additional 4,853 shares during the period. Janney Montgomery Scott LLC acquired a new position in HUTCHMED during the first quarter worth $365,000. Finally, Ameriprise Financial Inc. raised its position in HUTCHMED by 4.7% in the second quarter. Ameriprise Financial Inc. now owns 15,519 shares of the company's stock worth $234,000 after acquiring an additional 698 shares in the last quarter. Institutional investors and hedge funds own 8.82% of the company's stock.

HUTCHMED Company Profile

HUTCHMED NASDAQ: HCM is a fully integrated biopharmaceutical company focused on discovering, developing, manufacturing and commercializing targeted therapies and immunotherapies for the treatment of cancer and other diseases. The company leverages in-house capabilities in small-molecule chemistry, biologics engineering and translational medicine to advance candidates through all stages of development. HUTCHMED's integrated model encompasses early discovery research, clinical development, regulatory filings and commercial launches, enabling seamless progression from laboratory to market.

HUTCHMED's commercial portfolio includes several in-market oncology therapies approved in China, including fruquintinib for metastatic colorectal cancer, surufatinib for neuroendocrine tumors and savolitinib for non-small cell lung cancer.

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