HUTCHMED (NASDAQ:HCM) Shares Gap Up to $16.94

HUTCHMED (China) Limited (NASDAQ:HCM - Get Free Report)'s share price gapped up prior to trading on Tuesday . The stock had previously closed at $16.94, but opened at $17.64. HUTCHMED shares last traded at $17.88, with a volume of 17,482 shares changing hands.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. StockNews.com upgraded shares of HUTCHMED from a "hold" rating to a "buy" rating in a research report on Wednesday, March 27th. Cantor Fitzgerald reissued an "overweight" rating on shares of HUTCHMED in a report on Friday, January 12th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $29.70.

HUTCHMED Stock Performance

The company has a 50-day moving average price of $16.14 and a 200-day moving average price of $16.75. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.72 and a quick ratio of 2.60.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Hennion & Walsh Asset Management Inc. lifted its position in HUTCHMED by 2.5% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 57,010 shares of the company's stock valued at $958,000 after acquiring an additional 1,388 shares in the last quarter. China Universal Asset Management Co. Ltd. raised its position in HUTCHMED by 353.7% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 3,593 shares of the company's stock worth $65,000 after acquiring an additional 2,801 shares in the last quarter. Baillie Gifford & Co. raised its holdings in shares of HUTCHMED by 7.2% in the 4th quarter. Baillie Gifford & Co. now owns 144,969 shares of the company's stock valued at $2,625,000 after purchasing an additional 9,694 shares during the period. Vanguard Personalized Indexing Management LLC bought a new stake in shares of HUTCHMED in the 3rd quarter valued at about $196,000. Finally, Hsbc Holdings PLC acquired a new stake in HUTCHMED in the 3rd quarter valued at about $380,000. Institutional investors and hedge funds own 8.82% of the company's stock.

HUTCHMED Company Profile

HUTCHMED (China) Limited, together with its subsidiaries, discovers, develops, and commercializes targeted therapeutics and immunotherapies for cancer and immunological diseases in Hong Kong and internationally. The company develops Savolitinib for the treatment of non-small cell lung cancer (NSCLC), papillary renal cell carcinoma (RCC), and gastric cancer (GC); and Fruquintinib, an inhibitor for colorectal cancer (CRC), breast cancer, gastric cancer, microsatellite stable-CRC endometrial cancer (EMC), NSCLC, RCC, gastrointestinal, cervical, and solid tumors.