HUTCHMED (NASDAQ:HCM) Sees Large Volume Increase - Here's What Happened

Key Points

• HUTCHMED shares traded at $12.094 midday, up from the prior close of $11.91, while volume reached 32,043 shares—29% below the previous session.
• Analyst sentiment remains mixed: the stock carries a consensus “Hold” rating and an average price target of $14.87, with recent target cuts from Bank of America and Goldman Sachs.
• HUTCHMED missed quarterly expectations, reporting $0.05 in earnings per share versus $0.14 expected and revenue of $139.14 million versus a $304.16 million consensus estimate.

HUTCHMED (China) Limited Sponsored ADR (NASDAQ:HCM - Get Free Report) saw unusually-strong trading volume on Wednesday . 32,043 shares changed hands during mid-day trading, a decline of 29% from the previous session's volume of 45,117 shares.The stock last traded at $12.0940 and had previously closed at $11.91.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on HCM shares. Weiss Ratings lowered shares of HUTCHMED from a "hold (c-)" rating to a "sell (d)" rating in a research report on Friday, July 31st. Bank of America decreased their price target on shares of HUTCHMED from $20.00 to $17.00 and set a "buy" rating on the stock in a research report on Tuesday, July 7th. Wall Street Zen upgraded shares of HUTCHMED from a "hold" rating to a "buy" rating in a research note on Saturday, August 8th. The Goldman Sachs Group decreased their target price on HUTCHMED from $16.00 to $14.00 and set a "neutral" rating on the stock in a report on Thursday, July 23rd. Finally, Morgan Stanley set a $13.60 target price on HUTCHMED in a research report on Thursday, May 28th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $14.87.

HUTCHMED Price Performance

The stock's 50 day moving average price is $11.57 and its 200-day moving average price is $12.75. The company has a debt-to-equity ratio of 0.06, a current ratio of 5.64 and a quick ratio of 5.50.

HUTCHMED (NASDAQ:HCM - Get Free Report) last released its earnings results on Thursday, July 30th. The company reported $0.05 earnings per share for the quarter, missing analysts' consensus estimates of $0.14 by ($0.09). The company had revenue of $139.14 million for the quarter, compared to the consensus estimate of $304.16 million. As a group, research analysts predict that HUTCHMED will post 0.23 earnings per share for the current fiscal year.

Hedge Funds Weigh In On HUTCHMED

A number of hedge funds have recently made changes to their positions in HCM. XY Capital Ltd grew its position in shares of HUTCHMED by 115.2% during the second quarter. XY Capital Ltd now owns 104,130 shares of the company's stock worth $1,120,000 after purchasing an additional 55,736 shares in the last quarter. Amundi lifted its holdings in HUTCHMED by 4.0% in the 1st quarter. Amundi now owns 232,246 shares of the company's stock worth $3,474,000 after purchasing an additional 8,916 shares in the last quarter. Janney Montgomery Scott LLC bought a new position in HUTCHMED in the 1st quarter worth approximately $365,000. State Street Corp boosted its stake in HUTCHMED by 1.2% in the 4th quarter. State Street Corp now owns 321,305 shares of the company's stock worth $4,283,000 after purchasing an additional 3,801 shares during the period. Finally, Renaissance Technologies LLC grew its holdings in HUTCHMED by 3.0% during the 4th quarter. Renaissance Technologies LLC now owns 134,900 shares of the company's stock valued at $1,798,000 after buying an additional 3,900 shares in the last quarter. Institutional investors 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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