E Fund Management Co. Ltd. Raises Stake in Revolution Medicines, Inc. (NASDAQ:RVMD)

E Fund Management Co. Ltd. increased its stake in shares of Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) by 561.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 71,287 shares of the company's stock after acquiring an additional 60,503 shares during the quarter. E Fund Management Co. Ltd.'s holdings in Revolution Medicines were worth $3,118,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of RVMD. Candriam S.C.A. lifted its stake in Revolution Medicines by 16.5% in the fourth quarter. Candriam S.C.A. now owns 656,740 shares of the company's stock valued at $28,726,000 after buying an additional 92,958 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in Revolution Medicines in the 4th quarter valued at $14,067,000. Arizona State Retirement System lifted its position in Revolution Medicines by 2.0% during the 4th quarter. Arizona State Retirement System now owns 33,905 shares of the company's stock worth $1,483,000 after acquiring an additional 650 shares during the period. Proficio Capital Partners LLC purchased a new position in shares of Revolution Medicines in the 4th quarter valued at approximately $750,000. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Revolution Medicines by 9.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,931,114 shares of the company's stock valued at $84,467,000 after purchasing an additional 167,997 shares during the period. 94.34% of the stock is owned by hedge funds and other institutional investors.

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Insider Activity

In other Revolution Medicines news, insider Mark A. Goldsmith sold 11,714 shares of the stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $45.40, for a total transaction of $531,815.60. Following the transaction, the insider now owns 325,056 shares of the company's stock, valued at $14,757,542.40. This trade represents a 3.48 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Jack Anders sold 2,635 shares of the business's stock in a transaction on Monday, December 16th. The shares were sold at an average price of $45.40, for a total transaction of $119,629.00. Following the sale, the chief financial officer now directly owns 96,470 shares of the company's stock, valued at $4,379,738. This represents a 2.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 18,678 shares of company stock valued at $847,981 over the last quarter. Company insiders own 8.00% of the company's stock.

Analyst Ratings Changes

A number of research firms recently weighed in on RVMD. UBS Group lifted their price objective on shares of Revolution Medicines from $65.00 to $71.00 and gave the company a "buy" rating in a research report on Wednesday, January 8th. Wedbush reaffirmed an "outperform" rating and issued a $67.00 target price on shares of Revolution Medicines in a report on Thursday, February 27th. Needham & Company LLC decreased their price target on Revolution Medicines from $60.00 to $59.00 and set a "buy" rating on the stock in a research note on Thursday, February 27th. Stifel Nicolaus dropped their price objective on Revolution Medicines from $80.00 to $78.00 and set a "buy" rating for the company in a research note on Thursday, February 27th. Finally, Guggenheim boosted their target price on Revolution Medicines from $82.00 to $87.00 and gave the stock a "buy" rating in a research report on Tuesday, December 3rd. Twelve investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Buy" and a consensus target price of $66.31.

Revolution Medicines Trading Down 6.1 %

Shares of Revolution Medicines stock traded down $2.39 during mid-day trading on Monday, hitting $36.82. 1,818,704 shares of the stock were exchanged, compared to its average volume of 1,363,635. The stock has a market capitalization of $6.85 billion, a price-to-earnings ratio of -10.26 and a beta of 1.46. Revolution Medicines, Inc. has a twelve month low of $29.55 and a twelve month high of $62.40. The company has a 50-day simple moving average of $41.59 and a 200 day simple moving average of $46.05.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last announced its earnings results on Wednesday, February 26th. The company reported ($1.12) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.01) by ($0.11). Equities research analysts forecast that Revolution Medicines, Inc. will post -3.49 earnings per share for the current fiscal year.

Revolution Medicines 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.