HUTCHMED (China) Limited (NASDAQ:HCM – Get Rating) saw strong trading volume on Friday . 13,322 shares changed hands during mid-day trading, a decline of 92% from the previous session's volume of 166,753 shares.The stock last traded at $13.89 and had previously closed at $13.14.
Analyst Upgrades and Downgrades
A number of equities analysts have recently commented on the company. The Goldman Sachs Group lifted their target price on HUTCHMED from $14.00 to $16.00 and gave the stock a "neutral" rating in a report on Tuesday, August 9th. StockNews.com upgraded HUTCHMED from a "sell" rating to a "hold" rating in a report on Monday, August 1st.
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The stock has a fifty day moving average price of $13.18 and a 200 day moving average price of $14.40.
Institutional Investors Weigh In On HUTCHMED
A number of institutional investors and hedge funds have recently modified their holdings of HCM. Quantbot Technologies LP bought a new stake in shares of HUTCHMED during the 1st quarter worth approximately $44,000. US Bancorp DE lifted its stake in shares of HUTCHMED by 270.9% during the 1st quarter. US Bancorp DE now owns 3,687 shares of the company's stock worth $70,000 after acquiring an additional 2,693 shares during the last quarter. National Pension Service lifted its stake in shares of HUTCHMED by 429.1% during the 2nd quarter. National Pension Service now owns 9,101 shares of the company's stock worth $115,000 after acquiring an additional 7,381 shares during the last quarter. abrdn plc bought a new stake in shares of HUTCHMED during the 2nd quarter worth approximately $133,000. Finally, Jane Street Group LLC bought a new stake in HUTCHMED during the 2nd quarter valued at $160,000. 27.37% of the stock is owned by institutional investors.HUTCHMED Company Profile
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HUTCHMED (China) Limited discovers, develops, and commercializes targeted therapeutics and immunotherapies for cancer and immunological diseases in HongKong and internationally. It operates in Oncology/Immunology and Other Ventures segments. The company develops Savolitinib, an inhibitor for non-small cell lung cancer (NSCLC), papillary and renal cell carcinoma, colorectal cancer (CRC), and gastric cancer (GC); and Fruquintinib, an inhibitor for CRC, breast cancer, GC, endometrial cancer (EMC), NSCLC, hepatocellular carcinoma, and gastrointestinal and solid tumors.
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