Revolution Medicines, Inc. (NASDAQ:RVMD) Stock Position Lifted by MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Revolution Medicines, Inc. (NASDAQ:RVMD) by 13.4% during the 4th quarter, HoldingsChannel reports. The firm owned 102,127 shares of the company’s stock after acquiring an additional 12,084 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.’s holdings in Revolution Medicines were worth $4,463,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in RVMD. Boxer Capital Management LLC bought a new stake in shares of Revolution Medicines in the 4th quarter worth approximately $187,184,000. Janus Henderson Group PLC lifted its holdings in shares of Revolution Medicines by 54.5% in the 4th quarter. Janus Henderson Group PLC now owns 9,483,999 shares of the company’s stock worth $414,777,000 after purchasing an additional 3,346,755 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Revolution Medicines by 14.7% in the 4th quarter. Vanguard Group Inc. now owns 17,096,455 shares of the company’s stock worth $747,799,000 after purchasing an additional 2,185,082 shares during the last quarter. Farallon Capital Management LLC lifted its holdings in shares of Revolution Medicines by 17.1% in the 4th quarter. Farallon Capital Management LLC now owns 13,248,692 shares of the company’s stock worth $579,498,000 after purchasing an additional 1,931,000 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Revolution Medicines in the 4th quarter worth approximately $76,197,000. Institutional investors own 94.34% of the company’s stock.

Revolution Medicines Trading Up 0.3%

Shares of RVMD stock opened at $39.54 on Monday. Revolution Medicines, Inc. has a 1-year low of $29.17 and a 1-year high of $62.40. The company has a market capitalization of $7.37 billion, a price-to-earnings ratio of -11.01 and a beta of 1.11. The stock’s fifty day simple moving average is $37.49 and its 200-day simple moving average is $43.05.

Revolution Medicines (NASDAQ:RVMD) last issued its quarterly earnings results on Wednesday, May 7th. The company reported ($1.13) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.12) by ($0.01). During the same quarter last year, the firm posted ($0.70) earnings per share. On average, sell-side analysts predict that Revolution Medicines, Inc. will post -3.49 EPS for the current year.

Insider Activity

In other news, insider Mark A. Goldsmith sold 11,738 shares of Revolution Medicines stock in a transaction on Monday, March 17th. The stock was sold at an average price of $39.04, for a total transaction of $458,251.52. Following the transaction, the insider now owns 441,564 shares in the company, valued at approximately $17,238,658.56. The trade was a 2.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Margaret A. Horn sold 3,058 shares of Revolution Medicines 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 in the company, valued at $5,993,928.32. This represents a 1.95% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 16,660 shares of company stock worth $650,406. 8.20% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

RVMD has been the topic of several recent research reports. HC Wainwright reissued a “buy” rating and issued a $72.00 price target (down previously from $73.00) on shares of Revolution Medicines in a report on Wednesday. Wedbush reissued an “outperform” rating and issued a $67.00 price target on shares of Revolution Medicines in a report on Thursday, May 8th. Guggenheim cut their target price on Revolution Medicines from $87.00 to $80.00 and set a “buy” rating on the stock in a research note on Thursday, May 8th. Needham & Company LLC reaffirmed a “buy” rating and set a $57.00 target price on shares of Revolution Medicines in a research note on Thursday, May 8th. Finally, Stifel Nicolaus cut their target price on Revolution Medicines from $78.00 to $64.00 and set a “buy” rating on the stock in a research note on Tuesday, April 1st. Twelve equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Revolution Medicines currently has an average rating of “Buy” and an average price target of $67.08.

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.