HUTCHMED (NASDAQ:HCM) Trading Down 9.7% - Time to Sell?

Key Points

• HUTCHMED's stock price dropped by 9.7%, falling from a closing price of $17.92 to a last traded price of $16.18, with a significant 37% decrease in trading volume.
• Despite the recent decline, analysts have mixed opinions: Wall Street Zen upgraded HUTCHMED to a "strong-buy", while HSBC downgraded it to a "hold."
• Institutional investors have been active, with Crossmark Global Holdings and Bank of America increasing their stakes by 31.4% and 40.4%, respectively, during recent trading periods.

HUTCHMED (China) Limited Sponsored ADR (NASDAQ:HCM - Get Free Report)'s stock price fell 9.7% on Thursday . The stock traded as low as $15.57 and last traded at $16.18. 52,639 shares changed hands during mid-day trading, a decline of 37% from the average session volume of 83,262 shares. The stock had previously closed at $17.92.

Analyst Upgrades and Downgrades

HCM has been the topic of a number of research reports. Wall Street Zen raised shares of HUTCHMED from a "buy" rating to a "strong-buy" rating in a report on Saturday, July 26th. HSBC downgraded HUTCHMED from a "buy" rating to a "hold" rating in a research report on Tuesday, May 13th. Finally, Bank of America upped their price target on HUTCHMED from $27.00 to $28.00 and gave the stock a "buy" rating in a research report on Tuesday, July 22nd.

HUTCHMED Stock Down 9.0%

The business has a 50-day moving average price of $16.33 and a 200 day moving average price of $15.07. The company has a current ratio of 2.83, a quick ratio of 2.70 and a debt-to-equity ratio of 0.08.

Institutional Trading of HUTCHMED

Several institutional investors have recently added to or reduced their stakes in the company. Crossmark Global Holdings Inc. raised its holdings in shares of HUTCHMED by 31.4% in the first quarter. Crossmark Global Holdings Inc. now owns 24,420 shares of the company's stock worth $367,000 after buying an additional 5,829 shares during the period. Bank of America Corp DE grew its stake in HUTCHMED by 40.4% in the fourth quarter. Bank of America Corp DE now owns 22,723 shares of the company's stock worth $327,000 after purchasing an additional 6,540 shares in the last quarter. Public Employees Retirement System of Ohio increased its holdings 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 purchasing an additional 899 shares during the period. Barclays PLC raised its position 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. Finally, Marshall Wace LLP purchased a new stake in shares of HUTCHMED in the 4th quarter worth $261,000. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.