HUTCHMED (NASDAQ:HCM) Stock Price Crosses Below 50 Day Moving Average – Here’s Why

HUTCHMED (China) Limited Sponsored ADR (NASDAQ:HCM)’s stock price crossed below its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $11.83 and traded as low as $10.75. HUTCHMED shares last traded at $10.78, with a volume of 93,816 shares.

Analyst Upgrades and Downgrades

A number of research firms have commented on HCM. Morgan Stanley set a $13.60 target price on shares of HUTCHMED in a research report on Thursday, May 28th. Wall Street Zen cut shares of HUTCHMED from a “buy” rating to a “hold” rating in a research report on Saturday, March 7th. Bank of America dropped their price objective on shares of HUTCHMED from $21.00 to $20.00 and set a “buy” rating on the stock in a research note on Tuesday, March 10th. Finally, Weiss Ratings lowered shares of HUTCHMED from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $16.80.

HUTCHMED Price Performance

The business has a 50 day moving average of $11.83 and a two-hundred day moving average of $13.59. The company has a debt-to-equity ratio of 0.05, a quick ratio of 4.83 and a current ratio of 4.96.

Institutional Trading of HUTCHMED

Several hedge funds have recently modified their holdings of the company. Blue Trust Inc. grew its position in shares of HUTCHMED by 131.5% in the 4th quarter. Blue Trust Inc. now owns 7,708 shares of the company’s stock worth $103,000 after buying an additional 4,378 shares during the last quarter. Ameriprise Financial Inc. lifted its position in HUTCHMED by 4.7% during the second quarter. Ameriprise Financial Inc. now owns 15,519 shares of the company’s stock valued at $234,000 after acquiring an additional 698 shares during the last quarter. Bank of America Corp DE lifted its position in HUTCHMED by 17.3% during the second quarter. Bank of America Corp DE now owns 20,582 shares of the company’s stock valued at $310,000 after acquiring an additional 3,035 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in HUTCHMED by 34.2% in the third quarter. Dimensional Fund Advisors LP now owns 21,721 shares of the company’s stock valued at $342,000 after acquiring an additional 5,538 shares in the last quarter. Finally, Janney Montgomery Scott LLC acquired a new stake in HUTCHMED in the first quarter valued at approximately $365,000. 8.82% of the stock is owned by hedge funds and other 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.