Pamalican Asset Management Ltd Takes Position in Revolution Medicines, Inc. (NASDAQ:RVMD)

Pamalican Asset Management Ltd bought a new position in shares of Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 75,000 shares of the company's stock, valued at approximately $3,280,000. Revolution Medicines accounts for about 1.5% of Pamalican Asset Management Ltd's investment portfolio, making the stock its 24th largest position.

Other institutional investors have also recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB acquired a new stake in Revolution Medicines in the 3rd quarter valued at $801,000. State Street Corp increased its holdings in Revolution Medicines by 4.1% during the 3rd quarter. State Street Corp now owns 5,279,584 shares of the company's stock worth $239,429,000 after purchasing an additional 208,516 shares in the last quarter. Barclays PLC lifted its holdings in shares of Revolution Medicines by 187.1% in the third quarter. Barclays PLC now owns 294,664 shares of the company's stock valued at $13,362,000 after purchasing an additional 192,021 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Revolution Medicines by 8.7% during the third quarter. Geode Capital Management LLC now owns 3,627,025 shares of the company's stock valued at $164,517,000 after buying an additional 291,369 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. grew its holdings in Revolution Medicines by 92.9% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 61,980 shares of the company's stock worth $2,711,000 after buying an additional 29,853 shares in the last quarter. 94.34% of the stock is owned by institutional investors and hedge funds.

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Insider Activity

In other Revolution Medicines news, CFO Jack Anders sold 1,864 shares of the business's stock in a transaction on Monday, March 17th. The stock was sold at an average price of $39.04, for a total value of $72,770.56. Following the sale, the chief financial officer now directly owns 115,006 shares of the company's stock, valued at approximately $4,489,834.24. The trade was a 1.59 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Margaret A. Horn sold 3,058 shares of the firm's stock in a transaction on Monday, March 17th. The shares were sold at an average price of $39.04, for a total value of $119,384.32. Following the transaction, the chief operating officer now owns 153,533 shares of the company's stock, valued at $5,993,928.32. The trade was a 1.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 16,660 shares of company stock valued at $650,406. Company insiders own 8.00% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. UBS Group increased their target price on shares of Revolution Medicines from $65.00 to $71.00 and gave the company a "buy" rating in a report on Wednesday, January 8th. HC Wainwright increased their price objective on shares of Revolution Medicines from $72.00 to $73.00 and gave the company a "buy" rating in a research note on Monday, March 3rd. Needham & Company LLC restated a "buy" rating and issued a $59.00 target price on shares of Revolution Medicines in a research note on Tuesday. Wedbush reiterated an "outperform" rating and set a $67.00 target price on shares of Revolution Medicines in a research note on Thursday, February 27th. Finally, Stifel Nicolaus reduced their price target on shares of Revolution Medicines from $78.00 to $64.00 and set a "buy" rating for the company in a research report on Tuesday, April 1st. Twelve investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $65.23.

Revolution Medicines Trading Up 8.1 %

Shares of Revolution Medicines stock traded up $2.54 on Wednesday, hitting $33.67. 1,486,947 shares of the company traded hands, compared to its average volume of 1,426,305. The company has a market cap of $6.26 billion, a P/E ratio of -9.22 and a beta of 1.37. Revolution Medicines, Inc. has a 12-month low of $28.97 and a 12-month high of $62.40. The firm's 50-day simple moving average is $39.03 and its 200 day simple moving average is $44.96.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last announced its quarterly earnings data on Wednesday, February 26th. The company reported ($1.12) EPS for the quarter, missing the consensus estimate of ($1.01) by ($0.11). Analysts predict that Revolution Medicines, Inc. will post -3.49 earnings per share for the current year.

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.