HUTCHMED (NASDAQ:HCM) Shares Gap Up – Here’s What Happened

HUTCHMED (China) Limited (NASDAQ:HCM)’s share price gapped up prior to trading on Wednesday . The stock had previously closed at $13.72, but opened at $14.36. HUTCHMED shares last traded at $14.60, with a volume of 11,033 shares changing hands.

Analyst Ratings Changes

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

HUTCHMED Stock Up 5.1 %

The company has a debt-to-equity ratio of 0.07, a current ratio of 2.81 and a quick ratio of 2.68. The company’s 50-day moving average is $14.22 and its 200 day moving average is $16.90.

Hedge Funds Weigh In On HUTCHMED

Hedge funds and other institutional investors have recently modified their holdings of the stock. Jane Street Group LLC raised its position in HUTCHMED by 362.2% during the 3rd quarter. Jane Street Group LLC now owns 62,997 shares of the company’s stock worth $1,305,000 after buying an additional 49,366 shares during the last quarter. State Street Corp raised its position in HUTCHMED by 0.9% during the 3rd quarter. State Street Corp now owns 349,524 shares of the company’s stock worth $6,826,000 after buying an additional 3,078 shares during the last quarter. ABC Arbitrage SA purchased a new position in HUTCHMED during the 4th quarter worth approximately $500,000. XY Capital Ltd purchased a new position in HUTCHMED during the 4th quarter worth approximately $673,000. Finally, Crossmark Global Holdings Inc. raised its position in HUTCHMED by 10.7% during the 4th quarter. Crossmark Global Holdings Inc. now owns 18,591 shares of the company’s stock worth $268,000 after buying an additional 1,799 shares during the last quarter. 8.82% of the stock is owned by hedge funds and other institutional investors.

HUTCHMED Company Profile

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.