Caitong International Asset Management Co. Ltd Raises Stake in Revolution Medicines, Inc. $RVMD

Caitong International Asset Management Co. Ltd raised its stake in Revolution Medicines, Inc. (NASDAQ:RVMD) by 338,500.0% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,386 shares of the company’s stock after buying an additional 3,385 shares during the quarter. Caitong International Asset Management Co. Ltd’s holdings in Revolution Medicines were worth $125,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Principal Financial Group Inc. grew its holdings in Revolution Medicines by 2.1% in the 1st quarter. Principal Financial Group Inc. now owns 12,792 shares of the company’s stock valued at $452,000 after buying an additional 259 shares in the last quarter. CWM LLC grew its holdings in Revolution Medicines by 171.3% in the 2nd quarter. CWM LLC now owns 917 shares of the company’s stock valued at $34,000 after buying an additional 579 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in Revolution Medicines by 11.0% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,221 shares of the company’s stock valued at $232,000 after buying an additional 615 shares in the last quarter. GF Fund Management CO. LTD. grew its holdings in shares of Revolution Medicines by 21.9% during the 1st quarter. GF Fund Management CO. LTD. now owns 4,307 shares of the company’s stock worth $152,000 after purchasing an additional 775 shares during the period. Finally, Xponance Inc. grew its holdings in shares of Revolution Medicines by 6.7% during the 1st quarter. Xponance Inc. now owns 12,937 shares of the company’s stock worth $457,000 after purchasing an additional 810 shares during the period. 94.34% of the stock is currently owned by hedge funds and other institutional investors.

Revolution Medicines Stock Performance

Shares of Revolution Medicines stock opened at $54.48 on Friday. The business has a 50-day moving average of $44.20 and a 200 day moving average of $40.30. Revolution Medicines, Inc. has a 12 month low of $29.17 and a 12 month high of $62.40. The stock has a market capitalization of $10.18 billion, a price-to-earnings ratio of -12.11 and a beta of 1.27. The company has a debt-to-equity ratio of 0.13, a current ratio of 11.79 and a quick ratio of 11.79.

Revolution Medicines (NASDAQ:RVMD) last announced its earnings results on Wednesday, August 6th. The company reported ($1.31) EPS for the quarter, missing analysts’ consensus estimates of ($0.94) by ($0.37). During the same quarter in the prior year, the firm posted ($0.81) earnings per share. Revolution Medicines’s revenue for the quarter was up .0% compared to the same quarter last year. As a group, sell-side analysts forecast that Revolution Medicines, Inc. will post -3.49 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on RVMD shares. Raymond James Financial increased their price target on Revolution Medicines from $72.00 to $76.00 and gave the stock a “strong-buy” rating in a report on Friday, October 17th. Piper Sandler started coverage on Revolution Medicines in a report on Monday, August 18th. They set an “overweight” rating and a $75.00 price target for the company. Stifel Nicolaus started coverage on Revolution Medicines in a report on Wednesday, October 15th. They set a “buy” rating and a $85.00 price target for the company. National Bankshares set a $80.00 price target on Revolution Medicines in a report on Friday, October 17th. Finally, Truist Financial started coverage on Revolution Medicines in a report on Friday, September 5th. They set a “buy” rating and a $99.00 price target for the company. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, Revolution Medicines currently has a consensus rating of “Buy” and an average price target of $77.50.

Insider Activity at Revolution Medicines

In other news, insider Lin Wei sold 2,160 shares of Revolution Medicines stock in a transaction dated Tuesday, September 16th. The stock was sold at an average price of $45.82, for a total value of $98,971.20. Following the completion of the transaction, the insider owned 88,339 shares in the company, valued at approximately $4,047,692.98. This trade represents a 2.39% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Jack Anders sold 5,238 shares of Revolution Medicines stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $40.17, for a total value of $210,410.46. Following the completion of the transaction, the chief financial officer owned 113,314 shares of the company’s stock, valued at $4,551,823.38. The trade was a 4.42% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 188,033 shares of company stock worth $8,456,208 over the last ninety days. Company insiders own 8.20% of the company’s stock.

Revolution Medicines Company 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.