HUTCHMED (NASDAQ:HCM) Stock Price Down 3.4%

HUTCHMED (China) Limited (NASDAQ:HCM) shares fell 3.4% during mid-day trading on Friday . The stock traded as low as $18.22 and last traded at $18.34. 26,874 shares were traded during mid-day trading, a decline of 78% from the average session volume of 121,061 shares. The stock had previously closed at $18.99.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. StockNews.com upgraded shares of HUTCHMED from a “hold” rating to a “buy” rating in a research note on Wednesday, March 27th. Cantor Fitzgerald reissued an “overweight” rating on shares of HUTCHMED in a report on Friday, January 12th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $29.70.

HUTCHMED Stock Down 4.4 %

The company has a quick ratio of 2.60, a current ratio of 2.72 and a debt-to-equity ratio of 0.06. The firm has a 50 day moving average price of $16.43 and a 200 day moving average price of $16.79.

Institutional Investors Weigh In On HUTCHMED

Institutional investors and hedge funds have recently bought and sold shares of the business. Hennion & Walsh Asset Management Inc. boosted its stake in HUTCHMED by 89.5% in the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 51,735 shares of the company’s stock worth $876,000 after purchasing an additional 24,437 shares during the period. Vanguard Personalized Indexing Management LLC purchased a new stake in shares of HUTCHMED during the 3rd quarter valued at about $196,000. Hsbc Holdings PLC purchased a new position in HUTCHMED in the third quarter worth about $380,000. Acadian Asset Management LLC bought a new stake in shares of HUTCHMED in the 3rd quarter valued at approximately $3,268,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in HUTCHMED during the third quarter worth $444,000. 8.82% of the stock is owned by institutional investors.

About HUTCHMED

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.