China Universal Asset Management Co. Ltd. Sells 34,644 Shares of Revolution Medicines, Inc. $RVMD

China Universal Asset Management Co. Ltd. decreased its position in Revolution Medicines, Inc. (NASDAQ:RVMD) by 44.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 42,767 shares of the company’s stock after selling 34,644 shares during the quarter. China Universal Asset Management Co. Ltd.’s holdings in Revolution Medicines were worth $1,997,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of RVMD. NEOS Investment Management LLC grew its holdings in shares of Revolution Medicines by 34.7% in the third quarter. NEOS Investment Management LLC now owns 126,921 shares of the company’s stock valued at $5,927,000 after purchasing an additional 32,694 shares in the last quarter. GSA Capital Partners LLP lifted its position in Revolution Medicines by 18.8% during the third quarter. GSA Capital Partners LLP now owns 10,080 shares of the company’s stock valued at $471,000 after purchasing an additional 1,594 shares during the last quarter. State of New Jersey Common Pension Fund D lifted its position in Revolution Medicines by 10.4% during the third quarter. State of New Jersey Common Pension Fund D now owns 58,308 shares of the company’s stock valued at $2,723,000 after purchasing an additional 5,478 shares during the last quarter. PNC Financial Services Group Inc. grew its stake in shares of Revolution Medicines by 29.2% in the 3rd quarter. PNC Financial Services Group Inc. now owns 9,941 shares of the company’s stock worth $464,000 after buying an additional 2,246 shares in the last quarter. Finally, S&CO Inc. increased its holdings in shares of Revolution Medicines by 56.5% in the 3rd quarter. S&CO Inc. now owns 22,171 shares of the company’s stock worth $1,035,000 after buying an additional 8,000 shares during the last quarter. 94.34% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Revolution Medicines

In other news, CFO Jack Anders sold 10,000 shares of Revolution Medicines stock in a transaction that occurred on Wednesday, January 7th. The shares were sold at an average price of $98.00, for a total transaction of $980,000.00. Following the completion of the sale, the chief financial officer owned 108,065 shares of the company’s stock, valued at approximately $10,590,370. The trade was a 8.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Margaret A. Horn sold 75,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 7th. The shares were sold at an average price of $100.56, for a total value of $7,542,000.00. Following the completion of the sale, the chief operating officer owned 141,053 shares of the company’s stock, valued at $14,184,289.68. The trade was a 34.71% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 173,792 shares of company stock worth $15,239,440. 8.20% of the stock is currently owned by corporate insiders.

Revolution Medicines Price Performance

RVMD opened at $102.74 on Friday. The business has a fifty day moving average of $96.16 and a 200 day moving average of $67.57. Revolution Medicines, Inc. has a 52-week low of $29.17 and a 52-week high of $124.49. The company has a quick ratio of 8.05, a current ratio of 8.05 and a debt-to-equity ratio of 0.16. The stock has a market cap of $19.86 billion, a P/E ratio of -19.87 and a beta of 1.01.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Benchmark reiterated an “overweight” rating on shares of Revolution Medicines in a research report on Tuesday. Needham & Company LLC lifted their target price on Revolution Medicines from $66.00 to $72.00 and gave the stock a “buy” rating in a report on Thursday, November 6th. Wedbush restated an “outperform” rating on shares of Revolution Medicines in a report on Friday, January 9th. HC Wainwright raised their price target on Revolution Medicines from $72.00 to $73.00 and gave the stock a “buy” rating in a research report on Thursday, November 6th. Finally, Wolfe Research began coverage on shares of Revolution Medicines in a research report on Tuesday, November 18th. They set an “outperform” rating and a $75.00 price objective on the stock. Four equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price 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.