2,907 Shares in Revolution Medicines, Inc. $RVMD Bought by E Fund Management Co. Ltd.

E Fund Management Co. Ltd. acquired a new position in Revolution Medicines, Inc. (NASDAQ:RVMD) during the 2nd quarter, HoldingsChannel.com reports. The fund acquired 2,907 shares of the company’s stock, valued at approximately $544,000.

A number of other institutional investors have also recently bought and sold shares of the business. Johnson Financial Group Inc. bought a new position in Revolution Medicines in the 2nd quarter valued at $37,000. Eagle Health Investments LP bought a new stake in shares of Revolution Medicines during the 2nd quarter worth $22,538,000. Danske Bank A S purchased a new position in shares of Revolution Medicines in the 2nd quarter worth about $14,833,000. Wealthfront Advisers LLC purchased a new position in shares of Revolution Medicines in the 2nd quarter worth about $320,000. Finally, Meeder Advisory Services Inc. purchased a new position in shares of Revolution Medicines in the 2nd quarter worth about $735,000. Institutional investors own 94.34% of the company’s stock.

Revolution Medicines Trading Down 1.4%

Shares of RVMD stock opened at $211.74 on Friday. The company has a debt-to-equity ratio of 0.40, a current ratio of 11.38 and a quick ratio of 11.38. Revolution Medicines, Inc. has a 1-year low of $35.42 and a 1-year high of $220.34. The stock has a market capitalization of $45.38 billion, a PE ratio of -24.01 and a beta of 1.39. The business has a 50-day moving average of $186.87 and a 200 day moving average of $144.05.

Revolution Medicines (NASDAQ:RVMD) last issued its earnings results on Wednesday, August 5th. The company reported ($3.06) EPS for the quarter, missing the consensus estimate of ($2.04) by ($1.02). During the same period in the prior year, the firm earned ($1.31) EPS. As a group, sell-side analysts anticipate that Revolution Medicines, Inc. will post -8.82 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Evercore reaffirmed an “outperform” rating and issued a $230.00 price objective on shares of Revolution Medicines in a research report on Thursday, August 6th. Oppenheimer restated an “outperform” rating and set a $230.00 target price on shares of Revolution Medicines in a research report on Thursday, August 6th. Wedbush raised their price objective on shares of Revolution Medicines from $192.10 to $201.00 and gave the company an “outperform” rating in a research report on Thursday, August 6th. Wolfe Research reissued an “outperform” rating and set a $220.00 price objective on shares of Revolution Medicines in a research note on Monday, August 10th. Finally, Truist Financial lifted their target price on shares of Revolution Medicines from $210.00 to $231.00 and gave the company a “buy” rating in a research report on Tuesday, August 11th. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $166.33.

Insider Transactions at Revolution Medicines

In other news, insider Stephen Michael Kelsey sold 4,175 shares of the business’s stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $156.12, for a total transaction of $651,801.00. Following the transaction, the insider directly owned 291,876 shares of the company’s stock, valued at approximately $45,567,681.12. The trade was a 1.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Sushil Patel sold 5,580 shares of Revolution Medicines stock in a transaction on Monday, June 29th. The shares were sold at an average price of $187.99, for a total transaction of $1,048,984.20. Following the completion of the sale, the director owned 21,656 shares in the company, valued at approximately $4,071,111.44. This trade represents a 20.49% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 132,497 shares of company stock worth $21,470,486. Corporate insiders own 7.60% of the company’s stock.

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.