MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Buys 6,877 Shares of Revolution Medicines, Inc. $RVMD

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Revolution Medicines, Inc. (NASDAQ:RVMD) by 6.7% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 109,004 shares of the company’s stock after buying an additional 6,877 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned about 0.06% of Revolution Medicines worth $3,870,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Banque Transatlantique SA acquired a new position in shares of Revolution Medicines in the 1st quarter valued at $42,000. Quarry LP bought a new position in Revolution Medicines during the first quarter worth $50,000. Twin Tree Management LP bought a new position in Revolution Medicines in the 1st quarter valued at about $58,000. GF Fund Management CO. LTD. acquired a new stake in Revolution Medicines during the fourth quarter worth approximately $154,000. Finally, Goodman Advisory Group LLC bought a new stake in shares of Revolution Medicines during the first quarter worth approximately $127,000. 94.34% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

RVMD has been the topic of several research reports. Piper Sandler assumed coverage on shares of Revolution Medicines in a research note on Monday, August 18th. They issued an “overweight” rating and a $75.00 price target on the stock. Needham & Company LLC raised their price objective on Revolution Medicines from $56.00 to $66.00 and gave the company a “buy” rating in a research note on Thursday. Wedbush boosted their price target on Revolution Medicines from $73.00 to $77.00 and gave the stock an “outperform” rating in a report on Thursday. Wells Fargo & Company upped their price objective on shares of Revolution Medicines from $67.00 to $70.00 and gave the company an “overweight” rating in a research note on Thursday. Finally, Raymond James Financial initiated coverage on shares of Revolution Medicines in a research report on Friday. They set a “strong-buy” rating and a $72.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating and fourteen have given a Buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $73.67.

Revolution Medicines Trading Up 0.7%

NASDAQ:RVMD opened at $46.55 on Friday. Revolution Medicines, Inc. has a 12 month low of $29.17 and a 12 month high of $62.40. The company has a current ratio of 11.79, a quick ratio of 11.79 and a debt-to-equity ratio of 0.13. The firm’s 50 day moving average is $37.94 and its 200 day moving average is $38.19. The stock has a market capitalization of $8.70 billion, a PE ratio of -10.34 and a beta of 1.12.

Revolution Medicines (NASDAQ:RVMD) last released its 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). The firm’s quarterly revenue was up .0% compared to the same quarter last year. During the same period last year, the firm earned ($0.81) earnings per share. Sell-side analysts expect that Revolution Medicines, Inc. will post -3.49 earnings per share for the current year.

Insider Activity at Revolution Medicines

In related news, CFO Jack Anders sold 5,238 shares of the business’s stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $40.17, for a total transaction of $210,410.46. Following the completion of the transaction, the chief financial officer owned 113,314 shares of the company’s stock, valued at approximately $4,551,823.38. The trade was a 4.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 8.20% of the company’s stock.

About Revolution Medicines

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.