HUTCHMED (NASDAQ:HCM) Hits New 12-Month Low – Here’s What Happened

HUTCHMED (China) Limited Sponsored ADR (NASDAQ:HCM)’s stock price reached a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $12.53 and last traded at $12.67, with a volume of 28148 shares traded. The stock had previously closed at $12.87.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Weiss Ratings downgraded HUTCHMED from a “hold (c)” rating to a “hold (c-)” rating in a research report on Friday, May 1st. Bank of America reduced their target price on HUTCHMED from $21.00 to $20.00 and set a “buy” rating for the company in a report on Tuesday, March 10th. Jefferies Financial Group raised HUTCHMED to a “strong-buy” rating in a report on Monday, January 19th. Finally, Wall Street Zen cut shares of HUTCHMED from a “buy” rating to a “hold” rating in a research note on Saturday, March 7th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $16.88.

HUTCHMED Stock Up 0.2%

The company’s fifty day simple moving average is $14.23 and its 200 day simple moving average is $14.43. The company has a quick ratio of 4.83, a current ratio of 4.96 and a debt-to-equity ratio of 0.05.

HUTCHMED (NASDAQ:HCM) last announced its quarterly earnings data on Friday, March 6th. The company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $2.50 by ($2.49). The company had revenue of $135.42 million during the quarter, compared to the consensus estimate of $290.50 million. On average, equities analysts expect that HUTCHMED will post 0.41 earnings per share for the current fiscal year.

Institutional Investors Weigh In On HUTCHMED

A number of hedge funds have recently made changes to their positions in HCM. Janney Montgomery Scott LLC bought a new position in shares of HUTCHMED during the 1st quarter valued at $365,000. State Street Corp lifted its stake in HUTCHMED by 1.2% in the fourth quarter. State Street Corp now owns 321,305 shares of the company’s stock worth $4,283,000 after purchasing an additional 3,801 shares during the last quarter. Renaissance Technologies LLC lifted its stake in HUTCHMED by 3.0% in the fourth quarter. Renaissance Technologies LLC now owns 134,900 shares of the company’s stock worth $1,798,000 after purchasing an additional 3,900 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in HUTCHMED by 157.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 55,969 shares of the company’s stock valued at $746,000 after buying an additional 34,248 shares during the period. Finally, M&G PLC grew its stake in shares of HUTCHMED by 26.7% during the fourth quarter. M&G PLC now owns 259,033 shares of the company’s stock valued at $3,367,000 after buying an additional 54,601 shares during the last quarter. 8.82% of the stock is currently owned by institutional investors.

About HUTCHMED

HUTCHMED (NASDAQ: HCM) is a fully integrated biopharmaceutical company focused on discovering, developing, manufacturing and commercializing targeted therapies and immunotherapies for the treatment of cancer and other diseases. The company leverages in-house capabilities in small-molecule chemistry, biologics engineering and translational medicine to advance candidates through all stages of development. HUTCHMED’s integrated model encompasses early discovery research, clinical development, regulatory filings and commercial launches, enabling seamless progression from laboratory to market.

HUTCHMED’s commercial portfolio includes several in-market oncology therapies approved in China, including fruquintinib for metastatic colorectal cancer, surufatinib for neuroendocrine tumors and savolitinib for non-small cell lung cancer.