Revolution Medicines, Inc. (NASDAQ:RVMD) Shares Sold by E Fund Management Co. Ltd.

Key Points

• E Fund Management Co. Ltd. significantly reduced its holdings in Revolution Medicines by 78.6%, ending up owning 15,273 shares valued at approximately $540,000.
• Analysts have mixed ratings for RVMD; while Needham & Company lowered their target price to $56.00, Oppenheimer raised it to $75.00, indicating varying expectations for the stock's performance.
• Revolution Medicines reported an EPS of ($1.31) for the recent quarter, missing estimates, while its annual revenue rose compared to the previous year.

E Fund Management Co. Ltd. lessened its holdings in Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) by 78.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 15,273 shares of the company's stock after selling 56,014 shares during the period. E Fund Management Co. Ltd.'s holdings in Revolution Medicines were worth $540,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of RVMD. Wells Fargo & Company MN raised its position in shares of Revolution Medicines by 51.8% in the fourth quarter. Wells Fargo & Company MN now owns 88,327 shares of the company's stock valued at $3,863,000 after buying an additional 30,155 shares during the last quarter. Envestnet Asset Management Inc. raised its position in shares of Revolution Medicines by 21.7% in the fourth quarter. Envestnet Asset Management Inc. now owns 11,425 shares of the company's stock valued at $500,000 after buying an additional 2,041 shares during the last quarter. Russell Investments Group Ltd. increased its position in 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 purchasing an additional 434 shares during the last quarter. Cerity Partners LLC acquired a new position in Revolution Medicines during the fourth quarter worth approximately $250,000. Finally, Raymond James Financial Inc. acquired a new position in Revolution Medicines during the fourth quarter worth approximately $14,067,000. Hedge funds and other institutional investors own 94.34% of the company's stock.

Revolution Medicines Stock Performance

Shares of Revolution Medicines stock traded up $0.30 during trading hours on Friday, reaching $36.32. The company's stock had a trading volume of 1,391,929 shares, compared to its average volume of 1,886,910. The company's 50 day simple moving average is $37.93 and its 200 day simple moving average is $38.57. The company has a debt-to-equity ratio of 0.13, a quick ratio of 11.79 and a current ratio of 11.79. Revolution Medicines, Inc. has a one year low of $29.17 and a one year high of $62.40. The stock has a market cap of $6.79 billion, a P/E ratio of -8.07 and a beta of 1.16.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last posted its quarterly 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 period in the prior year, the company posted ($0.81) EPS. Revolution Medicines's revenue was up .0% on a year-over-year basis. As a group, analysts expect that Revolution Medicines, Inc. will post -3.49 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently commented on RVMD shares. Oppenheimer upped their price target on shares of Revolution Medicines from $70.00 to $75.00 and gave the stock an "outperform" rating in a research report on Thursday, May 8th. Guggenheim reaffirmed a "buy" rating and set a $80.00 price target on shares of Revolution Medicines in a research report on Wednesday, June 25th. Wells Fargo & Company started coverage on shares of Revolution Medicines in a research report on Friday. They set an "overweight" rating and a $67.00 price target for the company. Wedbush reaffirmed an "outperform" rating and set a $73.00 price target (up previously from $67.00) on shares of Revolution Medicines in a research report on Tuesday, June 24th. Finally, Needham & Company LLC dropped their price target on shares of Revolution Medicines from $57.00 to $56.00 and set a "buy" rating for the company in a research report on Thursday, August 7th. Twelve research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Revolution Medicines currently has a consensus rating of "Buy" and an average price target of $68.67.

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.