Revolution Medicines, Inc. $RVMD Stock Purchased by China Universal Asset Management Co. Ltd.

China Universal Asset Management Co. Ltd. increased its holdings in Revolution Medicines, Inc. (NASDAQ:RVMD) by 15.6% in the third quarter, Holdings Channel.com reports. The firm owned 39,108 shares of the company’s stock after purchasing an additional 5,273 shares during the period. China Universal Asset Management Co. Ltd.’s holdings in Revolution Medicines were worth $7,997,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Burkett Financial Services LLC acquired a new stake in shares of Revolution Medicines during the 3rd quarter worth $27,000. Contravisory Investment Management Inc. acquired a new position in shares of Revolution Medicines during the second quarter worth about $32,000. Johnson Financial Group Inc. purchased a new stake in shares of Revolution Medicines in the second quarter worth about $37,000. Silvant Capital Management LLC purchased a new stake in shares of Revolution Medicines in the second quarter worth about $41,000. Finally, Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Revolution Medicines in the second quarter valued at about $41,000. Institutional investors and hedge funds own 94.34% of the company’s stock.

Revolution Medicines Stock Up 0.8%

Shares of Revolution Medicines stock opened at $190.27 on Friday. The company has a current ratio of 11.38, a quick ratio of 11.38 and a debt-to-equity ratio of 0.40. Revolution Medicines, Inc. has a twelve month low of $56.66 and a twelve month high of $224.31. The business’s 50 day simple moving average is $199.63 and its 200-day simple moving average is $155.44.

Revolution Medicines (NASDAQ:RVMD) last announced its quarterly earnings results on Wednesday, August 5th. The company reported ($3.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.04) by ($1.02). During the same quarter in the prior year, the business earned ($1.31) EPS. As a group, equities research analysts expect that Revolution Medicines, Inc. will post -8.94 EPS for the current year.

Analyst Ratings Changes

RVMD has been the topic of several analyst reports. Truist Financial raised their target price on Revolution Medicines from $240.00 to $241.00 and gave the company a “buy” rating in a report on Monday, October 19th. Bank of America lowered their price objective on shares of Revolution Medicines from $265.00 to $264.00 and set a “buy” rating for the company in a research report on Friday, October 9th. Stifel Nicolaus lifted their price target on shares of Revolution Medicines from $215.00 to $230.00 and gave the stock a “buy” rating in a research note on Wednesday, September 9th. UBS Group raised their target price on Revolution Medicines from $220.00 to $265.00 and gave the company a “buy” rating in a research note on Friday, August 28th. Finally, The Goldman Sachs Group initiated coverage on Revolution Medicines in a research note on Thursday, September 24th. They set a “buy” rating and a $267.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $242.90.

Insider Buying and Selling

In related news, insider Alan B. Sandler sold 6,309 shares of the business’s stock in a transaction that occurred on Tuesday, September 29th. The stock was sold at an average price of $202.14, for a total transaction of $1,275,301.26. Following the sale, the insider owned 52,559 shares of the company’s stock, valued at $10,624,276.26. The trade was a 10.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Elizabeth M. Anderson sold 10,143 shares of the business’s stock in a transaction on Tuesday, September 22nd. The stock was sold at an average price of $193.04, for a total value of $1,958,004.72. Following the completion of the sale, the director directly owned 4,333 shares in the company, valued at $836,442.32. This represents a 70.07% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 290,991 shares of company stock valued at $59,422,765. Company insiders own 7.60% of the company’s stock.

Revolution Medicines Company Profile

Revolution Medicines, Inc is a clinical-stage biopharmaceutical company focused on developing targeted therapies for patients with RAS-mutant cancers. The company’s research platform is designed to discover and develop medicines that inhibit RAS proteins, which play a central role in the growth and spread of many cancers and have historically been difficult to target.

Its investigational pipeline includes RAS(ON) inhibitors and other precision oncology candidates, including daraxonrasib (RMC-6236), a pan-RAS inhibitor being evaluated in multiple solid tumors, as well as programs directed at specific mutations such as KRAS G12C and KRAS G12D.