HUTCHMED (NASDAQ:HCM) Sees Large Volume Increase – Still a Buy?

HUTCHMED (China) Limited (NASDAQ:HCM) shares saw unusually-strong trading volume on Monday . Approximately 71,022 shares traded hands during mid-day trading, an increase of 3% from the previous session’s volume of 69,081 shares.The stock last traded at $16.03 and had previously closed at $14.99.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut HUTCHMED from a “buy” rating to a “hold” rating in a research report on Monday, November 18th.

HUTCHMED Price Performance

The business has a fifty day simple moving average of $16.69 and a 200 day simple moving average of $17.86. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.81 and a quick ratio of 2.68.

Institutional Investors Weigh In On HUTCHMED

A number of institutional investors have recently bought and sold shares of HCM. Rhumbline Advisers lifted its stake in shares of HUTCHMED by 8.1% in the 2nd quarter. Rhumbline Advisers now owns 7,553 shares of the company’s stock valued at $129,000 after purchasing an additional 564 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in shares of HUTCHMED by 74.8% during the 2nd quarter. Renaissance Technologies LLC now owns 131,300 shares of the company’s stock valued at $2,248,000 after acquiring an additional 56,200 shares in the last quarter. Vanguard Personalized Indexing Management LLC increased its holdings in HUTCHMED by 9.7% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 13,216 shares of the company’s stock valued at $226,000 after purchasing an additional 1,168 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new position in HUTCHMED in the second quarter valued at about $213,000. Finally, Point72 Asset Management L.P. purchased a new stake in shares of HUTCHMED in the second quarter worth about $279,000. 8.82% of the stock is currently owned by hedge funds and other institutional investors.

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.