Revolution Medicines, Inc. (NASDAQ:RVMD) Shares Bought by China Universal Asset Management Co. Ltd.

China Universal Asset Management Co. Ltd. increased its position in shares of Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) by 45.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 89,962 shares of the company's stock after acquiring an additional 27,982 shares during the quarter. China Universal Asset Management Co. Ltd.'s holdings in Revolution Medicines were worth $3,181,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Sterling Capital Management LLC raised its stake in shares of Revolution Medicines by 588.7% during the 4th quarter. Sterling Capital Management LLC now owns 1,956 shares of the company's stock valued at $86,000 after buying an additional 1,672 shares during the last quarter. Farther Finance Advisors LLC raised its position in shares of Revolution Medicines by 368.3% during the 4th quarter. Farther Finance Advisors LLC now owns 2,051 shares of the company's stock worth $90,000 after purchasing an additional 1,613 shares during the last quarter. Kapitalo Investimentos Ltda purchased a new position in shares of Revolution Medicines in the fourth quarter valued at approximately $104,000. Goodman Advisory Group LLC purchased a new stake in shares of Revolution Medicines during the first quarter worth $127,000. Finally, GF Fund Management CO. LTD. raised its holdings in Revolution Medicines by 21.9% in the 1st quarter. GF Fund Management CO. LTD. now owns 4,307 shares of the company's stock valued at $152,000 after acquiring an additional 775 shares during the last quarter. Hedge funds and other institutional investors own 94.34% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on RVMD shares. Oppenheimer raised their price target on shares of Revolution Medicines from $70.00 to $75.00 and gave the stock an "outperform" rating in a report on Thursday, May 8th. Stifel Nicolaus decreased their price target 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. Wedbush reaffirmed an "outperform" rating and issued a $73.00 price objective (up from $67.00) on shares of Revolution Medicines in a research note on Tuesday, June 24th. Guggenheim reiterated a "buy" rating and issued a $80.00 price objective on shares of Revolution Medicines in a report on Wednesday, June 25th. Finally, Needham & Company LLC reissued a "buy" rating and set a $57.00 target price on shares of Revolution Medicines in a research note on Tuesday, June 24th. Eleven investment analysts have rated the stock with a buy rating, According to MarketBeat, Revolution Medicines currently has an average rating of "Buy" and an average target price of $68.00.

Revolution Medicines Trading Up 0.2%

NASDAQ:RVMD traded up $0.07 during midday trading on Thursday, reaching $38.59. The company had a trading volume of 1,031,020 shares, compared to its average volume of 1,888,597. Revolution Medicines, Inc. has a 12-month low of $29.17 and a 12-month high of $62.40. The firm has a market capitalization of $7.19 billion, a price-to-earnings ratio of -9.65 and a beta of 1.06. The stock's fifty day simple moving average is $39.32 and its 200-day simple moving average is $39.58.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported ($1.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.12) by ($0.01). During the same quarter last year, the firm posted ($0.70) earnings per share. As a group, sell-side analysts expect that Revolution Medicines, Inc. will post -3.49 EPS for the current 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.