HUTCHMED (NASDAQ:HCM) Stock Price Up 8.3% – Still a Buy?

HUTCHMED (China) Limited (NASDAQ:HCM) shares were up 8.3% during mid-day trading on Tuesday . The company traded as high as $12.72 and last traded at $13.15. Approximately 48,337 shares changed hands during trading, a decline of 55% from the average daily volume of 107,565 shares. The stock had previously closed at $12.14.

Analyst Ratings Changes

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

HUTCHMED Trading Up 8.2 %

The business has a 50-day simple moving average of $14.87 and a 200-day simple moving average of $16.34. The company has a current ratio of 2.81, a quick ratio of 2.68 and a debt-to-equity ratio of 0.07.

Institutional Investors Weigh In On HUTCHMED

Several institutional investors have recently bought and sold shares of the company. Public Employees Retirement System of Ohio lifted its holdings in HUTCHMED by 49.6% in the 4th quarter. Public Employees Retirement System of Ohio now owns 2,710 shares of the company’s stock valued at $39,000 after purchasing an additional 899 shares in the last quarter. Bank of America Corp DE grew its stake in HUTCHMED by 40.4% during the 4th quarter. Bank of America Corp DE now owns 22,723 shares of the company’s stock valued at $327,000 after acquiring an additional 6,540 shares in the last quarter. Jane Street Group LLC lifted its stake in HUTCHMED by 54.7% in the 4th quarter. Jane Street Group LLC now owns 97,470 shares of the company’s stock worth $1,405,000 after purchasing an additional 34,473 shares in the last quarter. Marshall Wace LLP acquired a new position in shares of HUTCHMED during the 4th quarter worth approximately $261,000. Finally, Barclays PLC grew its position in shares of HUTCHMED by 1,483.6% in the fourth quarter. Barclays PLC now owns 2,407 shares of the company’s stock valued at $35,000 after purchasing an additional 2,255 shares in the last quarter. 8.82% of the stock is currently owned by institutional investors and hedge funds.

About HUTCHMED

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.