China Universal Asset Management Co. Ltd. Sells 34,644 Shares of Revolution Medicines, Inc. $RVMD

China Universal Asset Management Co. Ltd. cut its holdings in Revolution Medicines, Inc. (NASDAQ:RVMD) by 44.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 42,767 shares of the company’s stock after selling 34,644 shares during the quarter. China Universal Asset Management Co. Ltd.’s holdings in Revolution Medicines were worth $1,997,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. GAMMA Investing LLC lifted its position in shares of Revolution Medicines by 45.1% in the 3rd quarter. GAMMA Investing LLC now owns 837 shares of the company’s stock worth $39,000 after purchasing an additional 260 shares during the period. CWM LLC raised its stake in Revolution Medicines by 171.3% in the second quarter. CWM LLC now owns 917 shares of the company’s stock worth $34,000 after buying an additional 579 shares in the last quarter. a16z Perennial Management L.P. purchased a new stake in Revolution Medicines during the second quarter worth $67,000. AlphaQuest LLC bought a new stake in Revolution Medicines during the 2nd quarter valued at $73,000. Finally, Caitong International Asset Management Co. Ltd boosted its position in Revolution Medicines by 338,500.0% during the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 3,386 shares of the company’s stock valued at $125,000 after acquiring an additional 3,385 shares in the last quarter. 94.34% of the stock is currently owned by institutional investors.

Insider Activity at Revolution Medicines

In other news, CFO Jack Anders sold 10,000 shares of Revolution Medicines stock in a transaction on Wednesday, January 7th. The shares were sold at an average price of $98.00, for a total transaction of $980,000.00. Following the completion of the sale, the chief financial officer directly owned 108,065 shares in the company, valued at approximately $10,590,370. The trade was a 8.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Margaret A. Horn sold 75,000 shares of the business’s stock in a transaction on Wednesday, January 7th. The shares were sold at an average price of $100.56, for a total transaction of $7,542,000.00. Following the sale, the chief operating officer directly owned 141,053 shares in the company, valued at $14,184,289.68. This trade represents a 34.71% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 173,792 shares of company stock worth $15,239,440. Corporate insiders own 8.20% of the company’s stock.

Analyst Upgrades and Downgrades

RVMD has been the subject of several recent research reports. JPMorgan Chase & Co. boosted their price target on Revolution Medicines from $71.00 to $82.00 and gave the stock an “overweight” rating in a research report on Thursday, November 6th. HC Wainwright boosted their target price on shares of Revolution Medicines from $72.00 to $73.00 and gave the stock a “buy” rating in a report on Thursday, November 6th. Needham & Company LLC raised their price target on shares of Revolution Medicines from $66.00 to $72.00 and gave the company a “buy” rating in a report on Thursday, November 6th. Royal Bank Of Canada started coverage on shares of Revolution Medicines in a research report on Monday, November 3rd. They issued an “outperform” rating and a $77.00 price objective on the stock. Finally, UBS Group raised shares of Revolution Medicines to a “strong-buy” rating in a research report on Thursday, December 4th. Four analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $78.94.

Revolution Medicines Stock Performance

Shares of Revolution Medicines stock opened at $102.74 on Friday. The company has a 50 day moving average price of $96.16 and a 200 day moving average price of $67.57. The firm has a market capitalization of $19.86 billion, a P/E ratio of -19.87 and a beta of 1.01. The company has a quick ratio of 8.05, a current ratio of 8.05 and a debt-to-equity ratio of 0.16. Revolution Medicines, Inc. has a 52 week low of $29.17 and a 52 week high of $124.49.

About Revolution Medicines

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.