HUTCHMED (NASDAQ:HCM) Sees Strong Trading Volume

Shares of HUTCHMED (China) Limited (NASDAQ:HCM) saw unusually-strong trading volume on Wednesday . Approximately 116,959 shares were traded during trading, a decline of 3% from the previous session’s volume of 120,456 shares.The stock last traded at $16.41 and had previously closed at $16.68.

Analysts Set New Price Targets

Several equities analysts have recently commented on HCM shares. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of HUTCHMED in a research report on Friday, January 12th. StockNews.com raised shares of HUTCHMED from a “hold” rating to a “buy” rating in a report on Wednesday, March 27th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $29.70.

HUTCHMED Trading Up 0.4 %

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 stock’s fifty day simple moving average is $16.03 and its 200-day simple moving average is $16.75.

Institutional Investors Weigh In On HUTCHMED

Hedge funds have recently made changes to their positions in the business. Capital International Investors boosted its position in shares of HUTCHMED by 0.6% during the first quarter. Capital International Investors now owns 9,105,103 shares of the company’s stock worth $173,532,000 after buying an additional 50,212 shares during the period. Goldman Sachs Group Inc. boosted its position in shares of HUTCHMED by 1,096.7% during the second quarter. Goldman Sachs Group Inc. now owns 3,913,287 shares of the company’s stock worth $49,464,000 after buying an additional 3,586,271 shares during the period. BlackRock Inc. boosted its position in shares of HUTCHMED by 3.6% during the first quarter. BlackRock Inc. now owns 3,516,585 shares of the company’s stock worth $66,534,000 after buying an additional 123,396 shares during the period. Bellevue Group AG boosted its position in shares of HUTCHMED by 62.6% during the first quarter. Bellevue Group AG now owns 1,750,690 shares of the company’s stock worth $33,123,000 after buying an additional 673,820 shares during the period. Finally, State Street Corp boosted its position in shares of HUTCHMED by 1.0% during the third quarter. State Street Corp now owns 1,190,914 shares of the company’s stock worth $10,551,000 after buying an additional 11,417 shares during the period. Institutional investors own 8.82% of the company’s stock.

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.