China Universal Asset Management Co. Ltd. Has $3.18 Million Position in Revolution Medicines, Inc. (NASDAQ:RVMD)

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

Several other hedge funds and other institutional investors have also bought and sold shares of RVMD. Bank of New York Mellon Corp raised its position in shares of Revolution Medicines by 6.9% in the 4th quarter. Bank of New York Mellon Corp now owns 569,015 shares of the company's stock valued at $24,889,000 after buying an additional 36,705 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Revolution Medicines by 9.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,931,114 shares of the company's stock valued at $84,467,000 after buying an additional 167,997 shares in the last quarter. Proficio Capital Partners LLC acquired a new position in shares of Revolution Medicines in the 4th quarter valued at approximately $750,000. Arizona State Retirement System raised its position in shares of Revolution Medicines by 2.0% in the 4th quarter. Arizona State Retirement System now owns 33,905 shares of the company's stock valued at $1,483,000 after buying an additional 650 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new position in shares of Revolution Medicines in the 4th quarter valued at approximately $14,067,000. Institutional investors and hedge funds own 94.34% of the company's stock.

Revolution Medicines Trading Up 5.7%

RVMD traded up $2.08 during trading on Wednesday, reaching $38.52. 2,536,294 shares of the company's stock were exchanged, compared to its average volume of 1,670,779. Revolution Medicines, Inc. has a one year low of $29.17 and a one year high of $62.40. The stock has a market capitalization of $7.18 billion, a PE ratio of -9.63 and a beta of 1.06. The firm has a fifty day moving average price of $39.36 and a two-hundred day moving average price of $39.59.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last posted its 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 period in the previous year, the company earned ($0.70) EPS. Sell-side analysts expect that Revolution Medicines, Inc. will post -3.49 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on RVMD shares. Oppenheimer boosted their target price on shares of Revolution Medicines from $70.00 to $75.00 and gave the company an "outperform" rating in a research report on Thursday, May 8th. Stifel Nicolaus decreased their price target on shares of Revolution Medicines from $78.00 to $64.00 and set a "buy" rating on the stock in a report on Tuesday, April 1st. Wedbush reaffirmed an "outperform" rating and set a $73.00 price target (up from $67.00) on shares of Revolution Medicines in a report on Tuesday, June 24th. Needham & Company LLC reaffirmed a "buy" rating and set a $57.00 price target on shares of Revolution Medicines in a report on Tuesday, June 24th. Finally, HC Wainwright reaffirmed a "buy" rating and set a $72.00 price target (down from $73.00) on shares of Revolution Medicines in a report on Wednesday, May 14th. Eleven research analysts have rated the stock with a buy rating, According to data from MarketBeat, Revolution Medicines currently has a consensus rating of "Buy" and a consensus target price of $68.00.

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.