China Universal Asset Management Co. Ltd. Purchases 12,744 Shares of Revolution Medicines, Inc. (NASDAQ:RVMD)

China Universal Asset Management Co. Ltd. increased its stake in Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) by 65.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 32,127 shares of the company's stock after acquiring an additional 12,744 shares during the period. China Universal Asset Management Co. Ltd.'s holdings in Revolution Medicines were worth $1,457,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of RVMD. GAMMA Investing LLC increased its holdings in Revolution Medicines by 55.8% during the 3rd quarter. GAMMA Investing LLC now owns 620 shares of the company's stock valued at $28,000 after purchasing an additional 222 shares during the period. Headlands Technologies LLC increased its holdings in Revolution Medicines by 140.9% during the 1st quarter. Headlands Technologies LLC now owns 1,513 shares of the company's stock valued at $49,000 after purchasing an additional 885 shares during the period. Values First Advisors Inc. purchased a new position in Revolution Medicines during the 3rd quarter valued at about $93,000. Allspring Global Investments Holdings LLC purchased a new position in Revolution Medicines during the 1st quarter valued at about $104,000. Finally, EntryPoint Capital LLC purchased a new position in Revolution Medicines during the 1st quarter valued at about $107,000. Institutional investors own 94.34% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on RVMD. JPMorgan Chase & Co. reduced their target price on Revolution Medicines from $55.00 to $54.00 and set an "overweight" rating on the stock in a report on Thursday, August 8th. Barclays upped their target price on Revolution Medicines from $54.00 to $60.00 and gave the stock an "overweight" rating in a report on Friday, September 27th. Oppenheimer upped their target price on Revolution Medicines from $55.00 to $60.00 and gave the stock an "outperform" rating in a report on Monday. Needham & Company LLC reiterated a "buy" rating and set a $61.00 target price on shares of Revolution Medicines in a report on Thursday, October 24th. Finally, Jefferies Financial Group began coverage on Revolution Medicines in a report on Monday, July 8th. They set a "buy" rating and a $63.00 target price on the stock. Eleven investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Buy" and an average target price of $56.75.

Insider Buying and Selling

In related news, Director Barbara Weber sold 5,200 shares of the business's stock in a transaction on Tuesday, October 8th. The shares were sold at an average price of $48.02, for a total value of $249,704.00. Following the sale, the director now owns 13,065 shares in the company, valued at approximately $627,381.30. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Revolution Medicines news, CFO Jack Anders sold 10,000 shares of Revolution Medicines stock in a transaction on Friday, October 11th. The shares were sold at an average price of $50.30, for a total transaction of $503,000.00. Following the completion of the transaction, the chief financial officer now directly owns 98,932 shares of the company's stock, valued at $4,976,279.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Barbara Weber sold 5,200 shares of Revolution Medicines stock in a transaction on Tuesday, October 8th. The stock was sold at an average price of $48.02, for a total transaction of $249,704.00. Following the transaction, the director now directly owns 13,065 shares of the company's stock, valued at $627,381.30. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 137,866 shares of company stock worth $6,814,424. Insiders own 8.00% of the company's stock.

Revolution Medicines Stock Up 5.6 %

NASDAQ:RVMD traded up $2.67 during trading hours on Tuesday, hitting $50.42. 1,427,655 shares of the stock traded hands, compared to its average volume of 1,314,384. Revolution Medicines, Inc. has a 1 year low of $18.00 and a 1 year high of $51.00. The company has a market cap of $8.42 billion, a price-to-earnings ratio of -12.73 and a beta of 1.43. The stock has a 50 day moving average price of $45.35 and a 200 day moving average price of $42.03.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last released its quarterly earnings data on Wednesday, August 7th. The company reported ($0.81) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.77) by ($0.04). The firm had revenue of $1.00 million for the quarter, compared to analysts' expectations of $0.81 million. Revolution Medicines's revenue was down 73.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.92) EPS. Equities analysts forecast that Revolution Medicines, Inc. will post -3.35 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.