HUTCHMED (NASDAQ:HCM) Shares Break Below 200-Day Moving Average – Time to Sell?

HUTCHMED (China) Limited Sponsored ADR (NASDAQ:HCM)’s stock price crossed below its 200-day moving average during trading on Friday. The stock has a 200-day moving average of $13.24 and traded as low as $13.14. HUTCHMED shares last traded at $13.15, with a volume of 33,492 shares.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Weiss Ratings raised HUTCHMED from a “sell (d)” rating to a “sell (d+)” rating in a research report on Tuesday, October 20th. Wall Street Zen upgraded HUTCHMED from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. HSBC upgraded HUTCHMED from a “hold” rating to a “buy” rating in a research report on Tuesday, September 8th. The Goldman Sachs Group dropped their price objective on HUTCHMED from $16.00 to $14.00 and set a “neutral” rating for the company in a research note on Thursday, July 23rd. Finally, Daiwa Securities Group upgraded HUTCHMED from a “hold” rating to a “buy” rating in a report on Thursday, September 3rd. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $14.87.

HUTCHMED Stock Down 3.2%

The company has a quick ratio of 5.50, a current ratio of 5.64 and a debt-to-equity ratio of 0.06. The business’s fifty day moving average is $13.65 and its two-hundred day moving average is $13.24.

HUTCHMED (NASDAQ:HCM) last released its earnings results on Thursday, July 30th. The company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.09). The business 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 EPS for the current year.

Institutional Trading of HUTCHMED

Several hedge funds have recently modified their holdings of HCM. Crossmark Global Holdings Inc. grew its stake in HUTCHMED by 25.0% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 106,185 shares of the company’s stock worth $1,553,000 after purchasing an additional 21,270 shares in the last quarter. XY Capital Ltd raised its position in HUTCHMED by 115.2% in the 2nd quarter. XY Capital Ltd now owns 104,130 shares of the company’s stock valued at $1,120,000 after purchasing an additional 55,736 shares in the last quarter. Amundi raised its position in HUTCHMED by 4.0% in the 1st quarter. Amundi now owns 232,246 shares of the company’s stock valued at $3,474,000 after purchasing an additional 8,916 shares in the last quarter. Finally, Janney Montgomery Scott LLC acquired a new stake in HUTCHMED in the 1st quarter valued at about $365,000. 8.82% of the stock is currently owned by institutional investors and hedge funds.

About HUTCHMED

HUTCHMED (NASDAQ:HCM) is a biopharmaceutical company focused on discovering, developing and commercializing medicines for cancer and other serious diseases. The company combines research and development capabilities in China with international development and commercial operations, serving patients and healthcare providers in China, the United States, Europe and other global markets.

HUTCHMED’s oncology portfolio includes fruquintinib, a targeted therapy for certain patients with metastatic colorectal cancer.