HUTCHMED (NASDAQ:HCM) Shares Gap Down – Here’s Why

HUTCHMED (China) Limited (NASDAQ:HCM) gapped down prior to trading on Monday . The stock had previously closed at $14.38, but opened at $12.79. HUTCHMED shares last traded at $12.68, with a volume of 9,907 shares trading hands.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised shares of HUTCHMED from a “hold” rating to a “buy” rating in a report on Friday, March 21st.

HUTCHMED Stock Performance

The company has a current ratio of 2.81, a quick ratio of 2.68 and a debt-to-equity ratio of 0.07. The business has a fifty day simple moving average of $14.80 and a 200 day simple moving average of $16.27.

Institutional Trading of HUTCHMED

A number of large investors have recently made changes to their positions in HCM. State Street Corp lifted its holdings in HUTCHMED by 0.9% in the 3rd quarter. State Street Corp now owns 349,524 shares of the company’s stock valued at $6,826,000 after purchasing an additional 3,078 shares in the last quarter. Renaissance Technologies LLC boosted its position in HUTCHMED by 18.4% during the fourth quarter. Renaissance Technologies LLC now owns 188,539 shares of the company’s stock worth $2,717,000 after acquiring an additional 29,239 shares during the last quarter. Jane Street Group LLC raised its holdings in HUTCHMED by 54.7% in the 4th quarter. Jane Street Group LLC now owns 97,470 shares of the company’s stock valued at $1,405,000 after acquiring an additional 34,473 shares during the last quarter. XY Capital Ltd purchased a new position in shares of HUTCHMED during the 4th quarter worth $673,000. Finally, ABC Arbitrage SA purchased a new stake in shares of HUTCHMED in the fourth quarter valued at $500,000. Institutional investors and hedge funds 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.