China Universal Asset Management Co. Ltd. Trims Holdings in Revolution Medicines, Inc. $RVMD

China Universal Asset Management Co. Ltd. lessened its holdings in shares of Revolution Medicines, Inc. (NASDAQ:RVMD) by 20.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 34,001 shares of the company’s stock after selling 8,766 shares during the period. China Universal Asset Management Co. Ltd.’s holdings in Revolution Medicines were worth $2,708,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Indiana Trust & Investment Management Co purchased a new position in Revolution Medicines during the 4th quarter valued at about $32,000. GAMMA Investing LLC increased its holdings in Revolution Medicines by 45.1% during the 3rd quarter. GAMMA Investing LLC now owns 837 shares of the company’s stock valued at $39,000 after purchasing an additional 260 shares during the period. Darwin Wealth Management LLC purchased a new position in Revolution Medicines during the 4th quarter valued at about $40,000. Signaturefd LLC increased its holdings in Revolution Medicines by 33.1% during the 4th quarter. Signaturefd LLC now owns 656 shares of the company’s stock valued at $52,000 after purchasing an additional 163 shares during the period. Finally, CWM LLC increased its holdings in Revolution Medicines by 51.6% during the 4th quarter. CWM LLC now owns 702 shares of the company’s stock valued at $56,000 after purchasing an additional 239 shares during the period. Hedge funds and other institutional investors own 94.34% of the company’s stock.

Revolution Medicines Stock Down 5.0%

RVMD stock opened at $134.48 on Friday. Revolution Medicines, Inc. has a fifty-two week low of $34.00 and a fifty-two week high of $155.70. The business’s 50 day moving average price is $106.78 and its two-hundred day moving average price is $88.60. The company has a debt-to-equity ratio of 0.16, a quick ratio of 7.14 and a current ratio of 7.14. The company has a market capitalization of $26.65 billion, a price-to-earnings ratio of -22.75 and a beta of 1.01.

Revolution Medicines (NASDAQ:RVMD) last posted its earnings results on Wednesday, February 25th. The company reported ($1.86) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.56) by ($0.30). During the same period in the previous year, the firm posted ($1.12) earnings per share. As a group, analysts forecast that Revolution Medicines, Inc. will post -7.57 earnings per share for the current fiscal year.

Insider Activity

In other Revolution Medicines news, insider Mark A. Goldsmith sold 120,000 shares of the company’s stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $150.09, for a total transaction of $18,010,800.00. Following the transaction, the insider owned 276,698 shares in the company, valued at approximately $41,529,602.82. This represents a 30.25% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Stephen Michael Kelsey sold 4,302 shares of the company’s stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $99.48, for a total value of $427,962.96. Following the transaction, the insider owned 295,398 shares in the company, valued at $29,386,193.04. This trade represents a 1.44% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 184,592 shares of company stock worth $24,499,532. Company insiders own 8.20% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Truist Financial upgraded Revolution Medicines to a “strong-buy” rating in a report on Wednesday, March 25th. UBS Group assumed coverage on Revolution Medicines in a report on Friday, February 27th. They set a “buy” rating on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Revolution Medicines in a report on Tuesday. Jefferies Financial Group started coverage on Revolution Medicines in a report on Monday, March 16th. They set a “buy” rating on the stock. Finally, Benchmark reiterated an “overweight” rating on shares of Revolution Medicines in a report on Tuesday, February 17th. Four equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $78.94.

Revolution Medicines Profile

Revolution Medicines is a clinical-stage biopharmaceutical company focused on discovering and developing small molecule therapies to treat RAS-dependent cancers and other diseases driven by the RAS/MAPK pathway. The company’s research efforts target historically “undruggable” proteins, aiming to inhibit critical nodes in cell signaling that promote tumor growth and therapeutic resistance.

The lead pipeline includes RMC-4630, a SHP2 inhibitor; RMC-6291, a selective KRAS G12C inhibitor; and RMC-6236, a pan-RAS inhibitor designed to address multiple RAS mutations.