Revolution Medicines, Inc. (NASDAQ:RVMD) Stake Raised by E Fund Management Co. Ltd.

E Fund Management Co. Ltd. boosted its holdings in Revolution Medicines, Inc. (NASDAQ:RVMD) by 67.6% during the 4th quarter, Holdings Channel.com reports. The fund owned 19,532 shares of the company’s stock after purchasing an additional 7,877 shares during the quarter. E Fund Management Co. Ltd.’s holdings in Revolution Medicines were worth $560,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Amalgamated Bank raised its position in Revolution Medicines by 5.3% in the third quarter. Amalgamated Bank now owns 15,587 shares of the company’s stock worth $431,000 after acquiring an additional 787 shares in the last quarter. Teacher Retirement System of Texas raised its position in Revolution Medicines by 4.8% in the third quarter. Teacher Retirement System of Texas now owns 21,137 shares of the company’s stock worth $585,000 after acquiring an additional 973 shares in the last quarter. China Universal Asset Management Co. Ltd. raised its position in Revolution Medicines by 101.1% in the third quarter. China Universal Asset Management Co. Ltd. now owns 2,802 shares of the company’s stock worth $78,000 after acquiring an additional 1,409 shares in the last quarter. Swiss National Bank raised its holdings in Revolution Medicines by 1.1% during the 3rd quarter. Swiss National Bank now owns 163,600 shares of the company’s stock worth $4,528,000 after buying an additional 1,800 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Revolution Medicines by 15.2% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,685 shares of the company’s stock worth $462,000 after buying an additional 2,199 shares during the period. 94.34% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on RVMD shares. Raymond James upgraded Revolution Medicines from an “outperform” rating to a “strong-buy” rating and boosted their price objective for the stock from $36.00 to $48.00 in a report on Wednesday, April 10th. Wedbush boosted their price objective on Revolution Medicines from $41.00 to $42.00 and gave the stock an “outperform” rating in a report on Tuesday, February 27th. Oppenheimer boosted their price objective on Revolution Medicines from $43.00 to $45.00 and gave the stock an “outperform” rating in a report on Friday, April 12th. Piper Sandler started coverage on Revolution Medicines in a report on Monday, March 11th. They set an “overweight” rating and a $43.00 price objective on the stock. Finally, Needham & Company LLC restated a “buy” rating and set a $46.00 price objective (up previously from $36.00) on shares of Revolution Medicines in a report on Monday, April 8th. Nine investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $41.20.

Revolution Medicines Stock Down 1.5 %

Shares of RVMD traded down $0.57 during trading hours on Wednesday, reaching $38.31. The company’s stock had a trading volume of 916,231 shares, compared to its average volume of 1,352,716. The firm has a market cap of $6.53 billion, a price-to-earnings ratio of -10.16 and a beta of 1.46. Revolution Medicines, Inc. has a 1-year low of $15.44 and a 1-year high of $40.21. The company has a 50 day moving average of $33.59 and a two-hundred day moving average of $28.45.

Revolution Medicines (NASDAQ:RVMD) last announced its quarterly earnings results on Monday, February 26th. The company reported ($1.14) EPS for the quarter, missing the consensus estimate of ($0.85) by ($0.29). The company had revenue of $0.74 million during the quarter, compared to analyst estimates of $1.20 million. The business’s quarterly revenue was down 95.2% compared to the same quarter last year. During the same period last year, the firm posted ($0.63) earnings per share. As a group, analysts forecast that Revolution Medicines, Inc. will post -3.18 EPS for the current fiscal year.

Insider Activity at Revolution Medicines

In related news, CFO Jack Anders sold 1,261 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $31.58, for a total value of $39,822.38. Following the completion of the sale, the chief financial officer now owns 101,959 shares of the company’s stock, valued at approximately $3,219,865.22. The sale was disclosed in a document filed with the SEC, which is available at this link. In other Revolution Medicines news, General Counsel Jeff Cislini sold 1,252 shares of the company’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $31.58, for a total transaction of $39,538.16. Following the completion of the sale, the general counsel now owns 55,874 shares of the company’s stock, valued at $1,764,500.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Jack Anders sold 1,261 shares of the company’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $31.58, for a total value of $39,822.38. Following the sale, the chief financial officer now directly owns 101,959 shares of the company’s stock, valued at approximately $3,219,865.22. The disclosure for this sale can be found here. In the last quarter, insiders sold 28,705 shares of company stock valued at $1,031,049. 8.50% of the stock is owned by corporate insiders.

Revolution Medicines Profile

Revolution Medicines, Inc, a clinical-stage precision oncology company, develops novel targeted therapies for RAS-addicted cancers. The company's research and development pipeline comprises RAS(ON) inhibitors designed to be used as monotherapy in combination with other RAS(ON) inhibitors and/or in combination with RAS companion inhibitors or other therapeutic agents, and RAS companion inhibitors for combination treatment strategies.