HUTCHMED (China) Limited (NASDAQ:HCM) Sees Significant Decline in Short Interest

HUTCHMED (China) Limited (NASDAQ:HCM) was the recipient of a large decline in short interest in the month of October. As of October 31st, there was short interest totalling 653,500 shares, a decline of 5.9% from the October 15th total of 694,700 shares. Based on an average trading volume of 127,500 shares, the short-interest ratio is currently 5.1 days.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on HCM shares. Cantor Fitzgerald restated an “overweight” rating and issued a $50.00 price target on shares of HUTCHMED in a research report on Tuesday, September 5th. Citigroup assumed coverage on HUTCHMED in a research report on Wednesday, August 2nd. They set a “buy” rating on the stock. StockNews.com assumed coverage on HUTCHMED in a research report on Thursday, October 5th. They set a “hold” rating on the stock. Finally, The Goldman Sachs Group boosted their target price on HUTCHMED from $15.00 to $17.00 and gave the stock a “neutral” rating in a research report on Friday, November 10th.

HUTCHMED Stock Performance

NASDAQ HCM opened at $18.62 on Friday. The company has a current ratio of 3.20, a quick ratio of 3.04 and a debt-to-equity ratio of 0.05. The business’s 50 day moving average is $17.37 and its two-hundred day moving average is $14.77. HUTCHMED has a 12-month low of $9.76 and a 12-month high of $21.28.

Institutional Investors Weigh In On HUTCHMED

A number of institutional investors and hedge funds have recently modified their holdings of the company. XY Capital Ltd grew its holdings in shares of HUTCHMED by 5.8% in the 1st quarter. XY Capital Ltd now owns 11,550 shares of the company’s stock worth $150,000 after acquiring an additional 637 shares during the period. Cubist Systematic Strategies LLC grew its holdings in shares of HUTCHMED by 4.5% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 22,273 shares of the company’s stock worth $282,000 after acquiring an additional 950 shares during the period. Tower Research Capital LLC TRC grew its holdings in shares of HUTCHMED by 28.8% in the 3rd quarter. Tower Research Capital LLC TRC now owns 5,723 shares of the company’s stock worth $97,000 after acquiring an additional 1,279 shares during the period. UBS Group AG grew its holdings in shares of HUTCHMED by 2.5% in the 1st quarter. UBS Group AG now owns 57,848 shares of the company’s stock worth $753,000 after acquiring an additional 1,401 shares during the period. Finally, Tower Research Capital LLC TRC lifted its stake in HUTCHMED by 26.2% in the 1st quarter. Tower Research Capital LLC TRC now owns 8,931 shares of the company’s stock valued at $116,000 after buying an additional 1,855 shares in the last quarter. Institutional investors and hedge funds own 14.13% of the company’s stock.

HUTCHMED Company Profile

HUTCHMED (China) Limited discovers, develops, and commercializes targeted therapeutics and immunotherapies for cancer and immunological diseases in Hong Kong and internationally. 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.