Revolution Medicines, Inc. (NASDAQ:RVMD) Shares Bought by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. increased its position in Revolution Medicines, Inc. (NASDAQ:RVMD) by 45.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 80,405 shares of the company’s stock after acquiring an additional 25,160 shares during the period. Mirae Asset Global Investments Co. Ltd. owned approximately 0.07% of Revolution Medicines worth $2,306,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of RVMD. Arizona State Retirement System increased its stake in shares of Revolution Medicines by 34.0% in the fourth quarter. Arizona State Retirement System now owns 28,384 shares of the company’s stock valued at $814,000 after purchasing an additional 7,195 shares during the period. China Universal Asset Management Co. Ltd. increased its position in Revolution Medicines by 576.0% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 18,941 shares of the company’s stock valued at $543,000 after acquiring an additional 16,139 shares during the period. Clear Harbor Asset Management LLC acquired a new stake in Revolution Medicines in the 4th quarter valued at approximately $206,000. Wedmont Private Capital bought a new stake in Revolution Medicines during the 4th quarter valued at $1,455,000. Finally, Exchange Traded Concepts LLC boosted its position in Revolution Medicines by 242.4% during the 4th quarter. Exchange Traded Concepts LLC now owns 11,282 shares of the company’s stock worth $324,000 after acquiring an additional 7,987 shares during the period. 94.34% of the stock is currently owned by institutional investors.

Revolution Medicines Stock Performance

Shares of NASDAQ:RVMD opened at $35.83 on Friday. The company has a market capitalization of $5.90 billion, a PE ratio of -9.50 and a beta of 1.54. The stock has a fifty day moving average of $31.61 and a 200-day moving average of $27.53. Revolution Medicines, Inc. has a one year low of $15.44 and a one year high of $38.73.

Revolution Medicines (NASDAQ:RVMD) last announced its earnings results on Monday, February 26th. The company reported ($1.14) EPS for the quarter, missing the consensus estimate of ($0.85) by ($0.29). The firm had revenue of $0.74 million during the quarter, compared to analyst estimates of $1.20 million. The firm’s revenue was down 95.2% compared to the same quarter last year. During the same period last year, the company posted ($0.63) earnings per share. As a group, research analysts forecast that Revolution Medicines, Inc. will post -3.18 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, General Counsel Jeff Cislini sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, January 22nd. The shares were sold at an average price of $27.00, for a total transaction of $40,500.00. Following the sale, the general counsel now owns 36,126 shares in the company, valued at $975,402. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Stephen Michael Kelsey sold 2,123 shares of Revolution Medicines stock in a transaction on Monday, March 18th. The stock was sold at an average price of $31.58, for a total transaction of $67,044.34. Following the transaction, the insider now owns 270,909 shares in the company, valued at $8,555,306.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Jeff Cislini sold 1,500 shares of the company’s stock in a transaction on Monday, January 22nd. The shares were sold at an average price of $27.00, for a total value of $40,500.00. Following the transaction, the general counsel now directly owns 36,126 shares in the company, valued at $975,402. The disclosure for this sale can be found here. Insiders sold a total of 20,205 shares of company stock worth $671,249 over the last ninety days. 8.50% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Needham & Company LLC reissued a “buy” rating and set a $46.00 price target (up from $36.00) on shares of Revolution Medicines in a report on Monday, April 8th. Oppenheimer boosted their price target on shares of Revolution Medicines from $43.00 to $45.00 and gave the stock an “outperform” rating in a research report on Friday, April 12th. Bank of America raised shares of Revolution Medicines from a “neutral” rating to a “buy” rating and upped their price target for the stock from $31.00 to $34.00 in a research note on Friday, January 5th. Piper Sandler began coverage on shares of Revolution Medicines in a research note on Monday, March 11th. They set an “overweight” rating and a $43.00 price objective on the stock. Finally, Raymond James upgraded Revolution Medicines from an “outperform” rating to a “strong-buy” rating and upped their target price for the stock from $36.00 to $48.00 in a research report on Wednesday, April 10th. Nine equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $41.20.

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.