China Universal Asset Management Co. Ltd. Buys 29,853 Shares of Revolution Medicines, Inc. (NASDAQ:RVMD)

China Universal Asset Management Co. Ltd. boosted its position in Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) by 92.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 61,980 shares of the company's stock after purchasing an additional 29,853 shares during the quarter. China Universal Asset Management Co. Ltd.'s holdings in Revolution Medicines were worth $2,711,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in RVMD. GAMMA Investing LLC increased its holdings in shares of Revolution Medicines by 55.8% in the 3rd quarter. GAMMA Investing LLC now owns 620 shares of the company's stock worth $28,000 after purchasing an additional 222 shares in the last quarter. Quarry LP bought a new position in shares of Revolution Medicines during the 3rd quarter valued at $82,000. Values First Advisors Inc. purchased a new stake in Revolution Medicines during the third quarter valued at $93,000. KBC Group NV grew its stake in shares of Revolution Medicines by 12.9% during the 3rd quarter. KBC Group NV now owns 3,221 shares of the company's stock valued at $146,000 after purchasing an additional 368 shares during the period. Finally, Avanza Fonder AB bought a new stake in shares of Revolution Medicines during the 4th quarter valued at about $173,000. Institutional investors own 94.34% of the company's stock.

Revolution Medicines Trading Up 4.9 %

NASDAQ:RVMD traded up $2.09 during trading hours on Wednesday, hitting $44.41. 817,355 shares of the stock were exchanged, compared to its average volume of 1,320,948. The firm's fifty day moving average price is $44.57 and its 200 day moving average price is $46.59. The company has a market cap of $7.47 billion, a P/E ratio of -12.40 and a beta of 1.45. Revolution Medicines, Inc. has a 52-week low of $28.43 and a 52-week high of $62.40.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last posted its quarterly earnings results on Wednesday, November 6th. The company reported ($0.94) earnings per share for the quarter, missing the consensus estimate of ($0.89) by ($0.05). During the same quarter last year, the firm earned ($0.99) EPS. Equities analysts expect that Revolution Medicines, Inc. will post -3.49 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on RVMD shares. Oppenheimer boosted their price target on Revolution Medicines from $55.00 to $60.00 and gave the company an "outperform" rating in a research note on Monday, October 28th. Wedbush reiterated an "outperform" rating and set a $70.00 price objective on shares of Revolution Medicines in a research note on Monday, December 2nd. Piper Sandler boosted their price objective on Revolution Medicines from $57.00 to $70.00 and gave the company an "overweight" rating in a research note on Thursday, November 7th. HC Wainwright upped their price target on Revolution Medicines from $64.00 to $72.00 and gave the stock a "buy" rating in a research note on Wednesday, December 4th. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $68.00 price target on shares of Revolution Medicines in a report on Tuesday, December 3rd. Eleven analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Revolution Medicines has a consensus rating of "Buy" and a consensus target price of $66.25.

Insider Activity

In other news, Director Thilo Schroeder bought 1,304,347 shares of the stock in a transaction on Thursday, December 5th. The stock was purchased at an average cost of $46.00 per share, with a total value of $59,999,962.00. Following the purchase, the director now owns 2,096,612 shares of the company's stock, valued at approximately $96,444,152. The trade was a 164.64 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, CFO Jack Anders sold 2,635 shares of the stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $45.40, for a total transaction of $119,629.00. Following the transaction, the chief financial officer now directly owns 96,470 shares in the company, valued at approximately $4,379,738. This represents a 2.66 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 18,678 shares of company stock worth $847,981. 8.00% of the stock is currently owned by corporate insiders.

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.