Mirae Asset Global Investments Co. Ltd. Reduces Position in Revolution Medicines, Inc. (NASDAQ:RVMD)

Mirae Asset Global Investments Co. Ltd. reduced its position in Revolution Medicines, Inc. (NASDAQ:RVMD) by 7.2% during the fourth quarter, HoldingsChannel.com reports. The firm owned 5,606 shares of the company’s stock after selling 435 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Revolution Medicines were worth $248,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in RVMD. GAMMA Investing LLC grew its stake in shares of Revolution Medicines by 55.8% during the third quarter. GAMMA Investing LLC now owns 620 shares of the company’s stock valued at $28,000 after buying an additional 222 shares during the last quarter. Quarry LP purchased a new position in Revolution Medicines during the 3rd quarter valued at $82,000. Values First Advisors Inc. bought a new position in Revolution Medicines in the 3rd quarter valued at $93,000. KBC Group NV grew its position in Revolution Medicines by 12.9% in the 3rd quarter. KBC Group NV now owns 3,221 shares of the company’s stock valued at $146,000 after acquiring an additional 368 shares during the last quarter. Finally, Avanza Fonder AB purchased a new stake in Revolution Medicines in the fourth quarter worth $173,000. Institutional investors own 94.34% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. UBS Group boosted their target price on shares of Revolution Medicines from $65.00 to $71.00 and gave the company a “buy” rating in a research note on Wednesday, January 8th. Wedbush reissued an “outperform” rating and issued a $70.00 price objective on shares of Revolution Medicines in a research report on Monday, December 2nd. Oppenheimer raised their target price on shares of Revolution Medicines from $55.00 to $60.00 and gave the stock an “outperform” rating in a research report on Monday, October 28th. Guggenheim lifted their price target on shares of Revolution Medicines from $82.00 to $87.00 and gave the company a “buy” rating in a research note on Tuesday, December 3rd. Finally, Needham & Company LLC reissued a “buy” rating and issued a $68.00 price objective on shares of Revolution Medicines in a research note on Tuesday, December 3rd. Eleven investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $66.25.

Revolution Medicines Trading Down 1.6 %

Shares of NASDAQ RVMD opened at $41.32 on Friday. The stock has a market capitalization of $6.95 billion, a PE ratio of -11.51 and a beta of 1.45. Revolution Medicines, Inc. has a 12-month low of $28.43 and a 12-month high of $62.40. The stock’s fifty day simple moving average is $43.21 and its two-hundred day simple moving average is $46.42.

Insider Activity at Revolution Medicines

In other news, insider Mark A. Goldsmith sold 11,714 shares of Revolution Medicines stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $45.40, for a total value of $531,815.60. Following the transaction, the insider now owns 325,056 shares of the company’s stock, valued at $14,757,542.40. The trade was a 3.48 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Jack Anders sold 2,635 shares of the stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $45.40, for a total transaction of $119,629.00. Following the sale, the chief financial officer now directly owns 96,470 shares of the company’s stock, valued at $4,379,738. The trade was a 2.66 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 18,678 shares of company stock valued at $847,981 over the last quarter. 8.00% of the stock is owned by corporate insiders.

Revolution Medicines 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.