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

HUTCHMED (China) Limited (NASDAQ:HCM) shares gapped up prior to trading on Thursday . The stock had previously closed at $14.22, but opened at $15.07. HUTCHMED shares last traded at $15.15, with a volume of 56,261 shares changing hands.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded shares of HUTCHMED from a “hold” rating to a “buy” rating in a report on Friday, March 21st.

HUTCHMED Stock Performance

The company has a quick ratio of 2.68, a current ratio of 2.81 and a debt-to-equity ratio of 0.07. The stock’s 50 day moving average price is $14.70 and its two-hundred day moving average price is $16.44.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of HCM. Jane Street Group LLC increased its holdings in HUTCHMED by 362.2% in the third 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 grew its position in HUTCHMED by 0.9% in the third quarter. State Street Corp now owns 349,524 shares of the company’s stock worth $6,826,000 after acquiring an additional 3,078 shares in the last quarter. ABC Arbitrage SA acquired a new position in shares of HUTCHMED during the 4th quarter worth $500,000. XY Capital Ltd bought a new position in shares of HUTCHMED during the 4th quarter valued at $673,000. Finally, Crossmark Global Holdings Inc. lifted its stake in shares of HUTCHMED by 10.7% in the 4th quarter. Crossmark Global Holdings Inc. now owns 18,591 shares of the company’s stock valued at $268,000 after purchasing an additional 1,799 shares during the last quarter. 8.82% of the stock is owned by institutional investors and hedge funds.

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.