HUTCHMED (China) Limited (NASDAQ:HCM) Short Interest Down 10.8% in August

HUTCHMED (China) Limited (NASDAQ:HCM) was the target of a large drop in short interest in August. As of August 31st, there was short interest totalling 928,000 shares, a drop of 10.8% from the August 15th total of 1,040,000 shares. Based on an average trading volume of 108,800 shares, the days-to-cover ratio is currently 8.5 days.

Hedge Funds Weigh In On HUTCHMED

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HCM. Quantbot Technologies LP purchased a new position in HUTCHMED in the 1st quarter worth $44,000. US Bancorp DE raised its stake in shares of HUTCHMED by 270.9% during the 1st quarter. US Bancorp DE now owns 3,687 shares of the company’s stock valued at $70,000 after buying an additional 2,693 shares during the last quarter. National Pension Service raised its stake in shares of HUTCHMED by 429.1% during the 2nd quarter. National Pension Service now owns 9,101 shares of the company’s stock valued at $115,000 after buying an additional 7,381 shares during the last quarter. Tower Research Capital LLC TRC raised its stake in shares of HUTCHMED by 26.2% during 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 during the last quarter. Finally, Rathbones Group PLC purchased a new position in shares of HUTCHMED during the 2nd quarter valued at about $125,000. Hedge funds and other institutional investors own 14.13% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Citigroup assumed coverage on HUTCHMED in a report on Wednesday, August 2nd. They set a “buy” rating for the company. Cantor Fitzgerald reiterated an “overweight” rating and set a $50.00 price objective on shares of HUTCHMED in a report on Tuesday, September 5th. Finally, StockNews.com assumed coverage on HUTCHMED in a report on Thursday, August 17th. They set a “hold” rating for the company.

HUTCHMED Stock Performance

Shares of HCM traded up $1.27 during midday trading on Monday, hitting $15.98. 381,178 shares of the company’s stock traded hands, compared to its average volume of 163,538. The company has a debt-to-equity ratio of 0.05, a quick ratio of 3.04 and a current ratio of 3.20. The firm’s fifty day moving average is $14.20 and its 200-day moving average is $13.91. HUTCHMED has a 1 year low of $7.39 and a 1 year high of $21.28.

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.