China Universal Asset Management Co. Ltd. Sells 8,766 Shares of Revolution Medicines, Inc. $RVMD

Key Points

• China Universal Asset Management sold 8,766 shares of Revolution Medicines in Q4, reducing its stake by 20.5% to 34,001 shares valued at about $2.71 million, per its Form 13F filing.
• Company insiders sold a total of 184,592 shares worth $24.5 million over the last quarter, including Lin Wei and Stephen Michael Kelsey who each sold shares on March 17 at an average price of $99.48.
• Analysts are broadly positive (consensus Buy rating with a $78.94 target), but the stock trades well above that (opened at $134.48) while the company remains unprofitable (Q4 EPS -$1.86; projected -7.57 EPS for the year).

China Universal Asset Management Co. Ltd. decreased its holdings in shares of Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) by 20.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 34,001 shares of the company's stock after selling 8,766 shares during the period. China Universal Asset Management Co. Ltd.'s holdings in Revolution Medicines were worth $2,708,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. New York State Common Retirement Fund boosted its stake in Revolution Medicines by 39.3% during the third quarter. New York State Common Retirement Fund now owns 119,807 shares of the company's stock valued at $5,595,000 after buying an additional 33,821 shares during the period. Raiffeisen Bank International AG bought a new stake in Revolution Medicines during the third quarter valued at $921,000. Mass General Brigham Inc bought a new stake in Revolution Medicines during the fourth quarter valued at $27,407,000. NEOS Investment Management LLC boosted its stake in Revolution Medicines by 34.7% during the third quarter. NEOS Investment Management LLC now owns 126,921 shares of the company's stock valued at $5,927,000 after buying an additional 32,694 shares during the period. Finally, HighVista Strategies LLC boosted its stake in Revolution Medicines by 157.8% during the third quarter. HighVista Strategies LLC now owns 175,448 shares of the company's stock valued at $8,193,000 after buying an additional 107,400 shares during the period. Institutional investors own 94.34% of the company's stock.

Insider Buying and Selling at Revolution Medicines

In related news, insider Lin Wei sold 2,073 shares of the firm's stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $99.48, for a total transaction of $206,222.04. Following the transaction, the insider directly owned 101,366 shares in the company, valued at $10,083,889.68. This trade represents a 2.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Stephen Michael Kelsey sold 4,302 shares of the firm's stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $99.48, for a total value of $427,962.96. Following the transaction, the insider owned 295,398 shares in the company, valued at approximately $29,386,193.04. The trade was a 1.44% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 184,592 shares of company stock worth $24,499,532 over the last quarter. Company insiders own 8.20% of the company's stock.

Analyst Ratings Changes

Several research firms recently issued reports on RVMD. Jefferies Financial Group began coverage on Revolution Medicines in a research note on Monday, March 16th. They set a "buy" rating for the company. Evercore reissued an "outperform" rating on shares of Revolution Medicines in a research note on Tuesday, April 14th. Benchmark reissued an "overweight" rating on shares of Revolution Medicines in a research note on Tuesday, February 17th. Wedbush restated an "outperform" rating on shares of Revolution Medicines in a research report on Tuesday, April 14th. Finally, UBS Group initiated coverage on Revolution Medicines in a research report on Friday, February 27th. They set a "buy" rating on the stock. Four equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $78.94.

Revolution Medicines Price Performance

RVMD opened at $134.48 on Friday. The stock's 50 day simple moving average is $106.78 and its 200 day simple moving average is $88.60. The company has a debt-to-equity ratio of 0.16, a current ratio of 7.14 and a quick ratio of 7.14. Revolution Medicines, Inc. has a 1 year low of $34.00 and a 1 year high of $155.70. The firm has a market cap of $26.65 billion, a price-to-earnings ratio of -22.75 and a beta of 1.01.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last posted its quarterly earnings results on Wednesday, February 25th. The company reported ($1.86) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.56) by ($0.30). During the same period last year, the company posted ($1.12) earnings per share. As a group, analysts predict that Revolution Medicines, Inc. will post -7.57 earnings per share for the current year.

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.

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