China Universal Asset Management Co. Ltd. Decreases Holdings in Revolution Medicines, Inc. $RVMD

China Universal Asset Management Co. Ltd. decreased its stake in Revolution Medicines, Inc. (NASDAQ:RVMD) by 14.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 77,411 shares of the company’s stock after selling 12,551 shares during the quarter. China Universal Asset Management Co. Ltd.’s holdings in Revolution Medicines were worth $2,848,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of RVMD. CWM LLC increased its stake in Revolution Medicines by 171.3% during the 2nd quarter. CWM LLC now owns 917 shares of the company’s stock worth $34,000 after buying an additional 579 shares in the last quarter. Banque Transatlantique SA purchased a new stake in shares of Revolution Medicines during the first quarter worth approximately $42,000. Quarry LP purchased a new stake in shares of Revolution Medicines during the first quarter worth approximately $50,000. Twin Tree Management LP acquired a new position in Revolution Medicines in the 1st quarter valued at $58,000. Finally, a16z Perennial Management L.P. purchased a new position in Revolution Medicines in the 2nd quarter valued at $67,000. Institutional investors and hedge funds own 94.34% of the company’s stock.

Revolution Medicines Stock Performance

Revolution Medicines stock opened at $78.92 on Friday. The firm has a 50 day simple moving average of $63.70 and a 200-day simple moving average of $47.95. The stock has a market cap of $15.26 billion, a price-to-earnings ratio of -15.26 and a beta of 0.96. The company has a debt-to-equity ratio of 0.16, a current ratio of 8.05 and a quick ratio of 8.05. Revolution Medicines, Inc. has a 1-year low of $29.17 and a 1-year high of $81.49.

Revolution Medicines (NASDAQ:RVMD) last released its quarterly earnings data on Wednesday, November 5th. The company reported ($1.61) EPS for the quarter, missing analysts’ consensus estimates of ($1.39) by ($0.22). During the same quarter in the previous year, the business posted ($0.94) earnings per share. On average, analysts expect that Revolution Medicines, Inc. will post -3.49 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on RVMD shares. Wolfe Research started coverage on shares of Revolution Medicines in a report on Tuesday, November 18th. They set an “outperform” rating and a $75.00 target price for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Revolution Medicines in a research note on Wednesday, October 8th. Piper Sandler started coverage on shares of Revolution Medicines in a research note on Monday, August 18th. They issued an “overweight” rating and a $75.00 target price on the stock. UBS Group upgraded Revolution Medicines to a “strong-buy” rating in a report on Thursday, December 4th. Finally, HC Wainwright upped their price target on Revolution Medicines from $72.00 to $73.00 and gave the company a “buy” rating in a research report on Thursday, November 6th. Four analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $78.50.

Insiders Place Their Bets

In related news, insider Stephen Michael Kelsey sold 25,000 shares of the firm’s stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $45.97, for a total transaction of $1,149,250.00. Following the completion of the sale, the insider directly owned 289,414 shares of the company’s stock, valued at approximately $13,304,361.58. This trade represents a 7.95% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Mark A. Goldsmith sold 60,000 shares of the business’s stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $75.08, for a total transaction of $4,504,800.00. Following the completion of the sale, the insider owned 247,863 shares in the company, valued at approximately $18,609,554.04. This trade represents a 19.49% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 208,033 shares of company stock valued at $12,670,322. 8.20% of the stock is owned by company insiders.

About Revolution Medicines

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.