Revolution Medicines, Inc. $RVMD Shares Purchased by MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Revolution Medicines by 6.7% during Q1, acquiring an additional 6,877 shares, bringing its total ownership to about $3.87 million.
• Several other institutional investors also purchased positions in Revolution Medicines during the same quarter, with a total of 94.34% of the stock now owned by institutional investors.
• Analysts have set a consensus price target of $73.67 for Revolution Medicines, with the stock receiving multiple "buy" ratings recently, indicating strong confidence in its performance.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) by 6.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 109,004 shares of the company's stock after acquiring an additional 6,877 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned about 0.06% of Revolution Medicines worth $3,870,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of RVMD. Deutsche Bank AG increased its holdings in shares of Revolution Medicines by 57.8% during the fourth quarter. Deutsche Bank AG now owns 177,383 shares of the company's stock valued at $7,759,000 after acquiring an additional 64,997 shares in the last quarter. Jefferies Financial Group Inc. acquired a new position in shares of Revolution Medicines during the fourth quarter valued at about $994,000. Nuveen Asset Management LLC increased its holdings in Revolution Medicines by 3.1% in the 4th quarter. Nuveen Asset Management LLC now owns 473,728 shares of the company's stock worth $20,721,000 after buying an additional 14,391 shares during the period. Nextech Invest Ltd. increased its holdings in Revolution Medicines by 20.7% in the 4th quarter. Nextech Invest Ltd. now owns 7,601,087 shares of the company's stock worth $332,472,000 after buying an additional 1,304,347 shares during the period. Finally, Man Group plc increased its holdings in Revolution Medicines by 25.6% in the 4th quarter. Man Group plc now owns 321,673 shares of the company's stock worth $14,070,000 after buying an additional 65,567 shares during the period. Institutional investors and hedge funds own 94.34% of the company's stock.

Insider Activity

In other news, insider Stephen Michael Kelsey sold 100,000 shares of the stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $44.08, for a total transaction of $4,408,000.00. Following the transaction, the insider owned 289,414 shares in the company, valued at $12,757,369.12. This trade represents a 25.68% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Lin Wei sold 2,160 shares of the stock in a transaction that occurred on Tuesday, September 16th. The shares were sold at an average price of $45.82, for a total value of $98,971.20. Following the transaction, the insider owned 88,339 shares in the company, valued at $4,047,692.98. This trade represents a 2.39% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 163,033 shares of company stock worth $7,242,708. Insiders own 8.20% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Guggenheim reiterated a "buy" rating and issued a $80.00 price target on shares of Revolution Medicines in a report on Wednesday, June 25th. Needham & Company LLC increased their price target on shares of Revolution Medicines from $56.00 to $66.00 and gave the stock a "buy" rating in a report on Thursday, September 11th. Truist Financial assumed coverage on shares of Revolution Medicines in a report on Friday, September 5th. They issued a "buy" rating and a $99.00 price target on the stock. Piper Sandler assumed coverage on shares of Revolution Medicines in a report on Monday, August 18th. They issued an "overweight" rating and a $75.00 price target on the stock. Finally, Wells Fargo & Company increased their price target on shares of Revolution Medicines from $67.00 to $70.00 and gave the stock an "overweight" rating in a report on Thursday, September 11th. One analyst has rated the stock with a Strong Buy rating and fourteen have issued a Buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Buy" and a consensus price target of $73.67.

Revolution Medicines Stock Performance

Revolution Medicines stock traded up $1.41 during mid-day trading on Thursday, hitting $45.22. The company had a trading volume of 1,764,773 shares, compared to its average volume of 2,076,130. The company has a current ratio of 11.79, a quick ratio of 11.79 and a debt-to-equity ratio of 0.13. Revolution Medicines, Inc. has a 12-month low of $29.17 and a 12-month high of $62.40. The company's fifty day moving average is $38.54 and its 200-day moving average is $38.33. The company has a market capitalization of $8.45 billion, a price-to-earnings ratio of -10.05 and a beta of 1.12.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last announced its earnings results on Wednesday, August 6th. The company reported ($1.31) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.94) by ($0.37). During the same quarter in the previous year, the firm posted ($0.81) earnings per share. The company's revenue for the quarter was up .0% compared to the same quarter last year. Equities research analysts predict that Revolution Medicines, Inc. will post -3.49 EPS for the current year.

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.