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

E Fund Management Co. Ltd. boosted its stake in shares of Revolution Medicines, Inc. (NASDAQ:RVMD) by 67.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 19,532 shares of the company’s stock after acquiring an additional 7,877 shares during the quarter. E Fund Management Co. Ltd.’s holdings in Revolution Medicines were worth $560,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. China Universal Asset Management Co. Ltd. grew its holdings in Revolution Medicines by 101.1% in the third quarter. China Universal Asset Management Co. Ltd. now owns 2,802 shares of the company’s stock valued at $78,000 after purchasing an additional 1,409 shares during the period. Fred Alger Management LLC acquired a new stake in Revolution Medicines in the third quarter valued at approximately $126,000. Federated Hermes Inc. acquired a new stake in Revolution Medicines in the third quarter valued at approximately $126,000. Strs Ohio grew its holdings in Revolution Medicines by 270.6% in the third quarter. Strs Ohio now owns 6,300 shares of the company’s stock valued at $174,000 after purchasing an additional 4,600 shares during the period. Finally, Clear Harbor Asset Management LLC acquired a new stake in Revolution Medicines in the fourth quarter valued at approximately $206,000. 94.34% of the stock is currently owned by hedge funds and other institutional investors.

Revolution Medicines Trading Down 1.5 %

Revolution Medicines stock traded down $0.57 during mid-day trading on Wednesday, hitting $38.31. The company’s stock had a trading volume of 916,231 shares, compared to its average volume of 1,352,716. Revolution Medicines, Inc. has a 1 year low of $15.44 and a 1 year high of $40.21. The firm has a market capitalization of $6.53 billion, a PE ratio of -10.16 and a beta of 1.46. The stock’s fifty day moving average is $33.59 and its two-hundred day moving average is $28.45.

Revolution Medicines (NASDAQ:RVMD) last issued its quarterly earnings data on Monday, February 26th. The company reported ($1.14) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.85) by ($0.29). The company had revenue of $0.74 million for the quarter, compared to analysts’ expectations of $1.20 million. The company’s revenue for the quarter was down 95.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.63) EPS. On average, equities analysts expect that Revolution Medicines, Inc. will post -3.18 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have commented on RVMD shares. Piper Sandler started coverage on Revolution Medicines in a report on Monday, March 11th. They issued an “overweight” rating and a $43.00 price objective on the stock. Needham & Company LLC reaffirmed a “buy” rating and issued a $46.00 price target (up from $36.00) on shares of Revolution Medicines in a research note on Monday, April 8th. Wedbush lifted their price target on Revolution Medicines from $41.00 to $42.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 27th. Raymond James raised Revolution Medicines from an “outperform” rating to a “strong-buy” rating and lifted their price target for the stock from $36.00 to $48.00 in a research note on Wednesday, April 10th. Finally, Oppenheimer lifted their price target on Revolution Medicines from $43.00 to $45.00 and gave the stock an “outperform” rating in a research note on Friday, April 12th. Nine analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $41.20.

Insider Buying and Selling

In other news, insider Stephen Michael Kelsey sold 2,123 shares of Revolution Medicines stock in a transaction on Monday, March 18th. The stock was sold at an average price of $31.58, for a total value of $67,044.34. Following the completion of the sale, the insider now directly owns 270,909 shares of the company’s stock, valued at $8,555,306.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, insider Stephen Michael Kelsey sold 2,123 shares of the stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $31.58, for a total transaction of $67,044.34. Following the sale, the insider now owns 270,909 shares of the company’s stock, valued at $8,555,306.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Jack Anders sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $40.03, for a total transaction of $400,300.00. Following the completion of the transaction, the chief financial officer now directly owns 101,959 shares of the company’s stock, valued at approximately $4,081,418.77. The disclosure for this sale can be found here. In the last quarter, insiders sold 28,705 shares of company stock valued at $1,031,049. Company insiders own 8.50% of the company’s stock.

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.