2,907 Shares in Revolution Medicines, Inc. $RVMD Bought by E Fund Management Co. Ltd.

E Fund Management Co. Ltd. purchased a new position in Revolution Medicines, Inc. (NASDAQ:RVMD) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 2,907 shares of the company’s stock, valued at approximately $544,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of RVMD. Nextech Invest Ltd. boosted its position in shares of Revolution Medicines by 20.7% during the 4th quarter. Nextech Invest Ltd. now owns 7,601,087 shares of the company’s stock worth $332,472,000 after purchasing an additional 1,304,347 shares in the last quarter. Millennium Management LLC increased its position in Revolution Medicines by 681.8% in the 1st quarter. Millennium Management LLC now owns 156,353 shares of the company’s stock valued at $5,529,000 after buying an additional 136,353 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Revolution Medicines by 14.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 300,196 shares of the company’s stock valued at $10,615,000 after buying an additional 37,345 shares in the last quarter. Invesco Ltd. raised its stake in Revolution Medicines by 19.3% during the 2nd quarter. Invesco Ltd. now owns 227,019 shares of the company’s stock worth $8,352,000 after buying an additional 36,760 shares during the period. Finally, Jump Financial LLC raised its stake in Revolution Medicines by 87.9% during the 2nd quarter. Jump Financial LLC now owns 15,258 shares of the company’s stock worth $561,000 after buying an additional 7,137 shares during the period. 94.34% of the stock is owned by institutional investors.

Insider Transactions at Revolution Medicines

In other news, insider Stephen Michael Kelsey sold 4,175 shares of the stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $156.12, for a total value of $651,801.00. Following the completion of the sale, the insider owned 291,876 shares in the company, valued at $45,567,681.12. This represents a 1.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Sushil Patel sold 5,580 shares of the firm’s stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $187.99, for a total transaction of $1,048,984.20. Following the transaction, the director directly owned 21,656 shares in the company, valued at $4,071,111.44. The trade was a 20.49% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 132,497 shares of company stock worth $21,470,486. 7.60% of the stock is owned by insiders.

Revolution Medicines Trading Down 1.4%

Shares of Revolution Medicines stock opened at $211.74 on Friday. The stock has a fifty day simple moving average of $186.87 and a 200 day simple moving average of $144.05. Revolution Medicines, Inc. has a 12-month low of $35.42 and a 12-month high of $220.34. The company has a market capitalization of $45.38 billion, a P/E ratio of -24.01 and a beta of 1.39. 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 (NASDAQ:RVMD) last released its quarterly earnings results on Wednesday, August 5th. The company reported ($3.06) EPS for the quarter, missing analysts’ consensus estimates of ($2.04) by ($1.02). During the same quarter last year, the firm earned ($1.31) earnings per share. On average, sell-side analysts anticipate that Revolution Medicines, Inc. will post -8.82 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Guggenheim increased their price target on Revolution Medicines from $235.00 to $240.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Oppenheimer reaffirmed an “outperform” rating and set a $230.00 target price on shares of Revolution Medicines in a research report on Thursday, August 6th. Evercore reaffirmed an “outperform” rating and set a $230.00 target price on shares of Revolution Medicines in a research report on Thursday, August 6th. Truist Financial increased their target price on Revolution Medicines from $210.00 to $231.00 and gave the stock a “buy” rating in a report on Tuesday, August 11th. Finally, Sanford C. Bernstein began coverage on shares of Revolution Medicines in a research note on Thursday, May 21st. They set a “market perform” rating and a $151.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $166.33.

About Revolution Medicines

Revolution Medicines is a clinical-stage biopharmaceutical company focused on discovering and developing small molecule therapies to treat RAS-dependent cancers and other diseases driven by the RAS/MAPK pathway. The company’s research efforts target historically “undruggable” proteins, aiming to inhibit critical nodes in cell signaling that promote tumor growth and therapeutic resistance.

The lead pipeline includes RMC-4630, a SHP2 inhibitor; RMC-6291, a selective KRAS G12C inhibitor; and RMC-6236, a pan-RAS inhibitor designed to address multiple RAS mutations.