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

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

Other hedge funds have also bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Revolution Medicines by 11.0% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,221 shares of the company's stock valued at $232,000 after purchasing an additional 615 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Revolution Medicines by 9.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,931,114 shares of the company's stock worth $84,467,000 after purchasing an additional 167,997 shares in the last quarter. Russell Investments Group Ltd. boosted its position in shares of Revolution Medicines by 11.4% during the fourth quarter. Russell Investments Group Ltd. now owns 4,243 shares of the company's stock worth $186,000 after acquiring an additional 434 shares during the last quarter. SG Americas Securities LLC boosted its position in shares of Revolution Medicines by 516.0% during the first quarter. SG Americas Securities LLC now owns 18,103 shares of the company's stock worth $640,000 after acquiring an additional 15,164 shares during the last quarter. Finally, Wells Fargo & Company MN boosted its position in shares of Revolution Medicines by 51.8% during the fourth quarter. Wells Fargo & Company MN now owns 88,327 shares of the company's stock worth $3,863,000 after acquiring an additional 30,155 shares during the last quarter. Institutional investors own 94.34% of the company's stock.

Revolution Medicines Stock Down 1.2%

Shares of NASDAQ:RVMD traded down $0.48 during trading on Friday, hitting $38.02. 1,402,330 shares of the stock traded hands, compared to its average volume of 1,662,734. The company has a market cap of $7.08 billion, a price-to-earnings ratio of -9.51 and a beta of 1.06. The company has a fifty day moving average price of $39.23 and a two-hundred day moving average price of $39.50. Revolution Medicines, Inc. has a 52-week low of $29.17 and a 52-week high of $62.40.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported ($1.13) EPS for the quarter, missing the consensus estimate of ($1.12) by ($0.01). During the same period in the prior year, the firm earned ($0.70) EPS. On average, equities research analysts predict that Revolution Medicines, Inc. will post -3.49 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

RVMD has been the subject of several research reports. HC Wainwright reiterated a "buy" rating and set a $72.00 price objective (down previously from $73.00) on shares of Revolution Medicines in a research report on Wednesday, May 14th. Stifel Nicolaus cut their target price on shares of Revolution Medicines from $78.00 to $64.00 and set a "buy" rating on the stock in a research report on Tuesday, April 1st. Wedbush restated an "outperform" rating and issued a $73.00 price target (up from $67.00) on shares of Revolution Medicines in a report on Tuesday, June 24th. Guggenheim restated a "buy" rating and issued a $80.00 price target on shares of Revolution Medicines in a report on Wednesday, June 25th. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $57.00 target price on shares of Revolution Medicines in a research note on Tuesday, June 24th. Eleven research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target 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.