Revolution Medicines, Inc. $RVMD Position Increased by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. increased its stake in Revolution Medicines, Inc. (NASDAQ:RVMD) by 15.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,195 shares of the company’s stock after purchasing an additional 974 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Revolution Medicines were worth $265,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Banque Transatlantique SA acquired a new stake in Revolution Medicines in the first quarter worth $42,000. Quarry LP bought a new position in shares of Revolution Medicines during the first quarter worth about $50,000. Twin Tree Management LP bought a new position in shares of Revolution Medicines during the first quarter worth about $58,000. Goodman Advisory Group LLC acquired a new position in Revolution Medicines during the 1st quarter valued at about $127,000. Finally, Avanza Fonder AB boosted its stake in Revolution Medicines by 28.2% during the 2nd quarter. Avanza Fonder AB now owns 3,688 shares of the company’s stock valued at $136,000 after purchasing an additional 811 shares during the period. 94.34% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on RVMD. Raymond James Financial began coverage on Revolution Medicines in a report on Friday, September 12th. They set a “strong-buy” rating and a $72.00 price target on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Revolution Medicines in a research report on Wednesday. Guggenheim restated a “buy” rating and issued a $80.00 target price on shares of Revolution Medicines in a research report on Wednesday, June 25th. Piper Sandler started coverage on Revolution Medicines in a research note on Monday, August 18th. They issued an “overweight” rating and a $75.00 price target for the company. Finally, Needham & Company LLC increased their price target on Revolution Medicines from $56.00 to $66.00 and gave the stock a “buy” rating in a research note on Thursday, September 11th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Revolution Medicines has a consensus rating of “Moderate Buy” and an average target price of $74.64.

Insider Buying and Selling

In related news, insider Mark A. Goldsmith sold 13,411 shares of the firm’s stock in a transaction that occurred on Tuesday, September 16th. The shares were sold at an average price of $45.82, for a total transaction of $614,492.02. Following the completion of the sale, the insider directly owned 452,309 shares in the company, valued at approximately $20,724,798.38. This trade represents a 2.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Jack Anders sold 5,238 shares of the business’s stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $40.17, for a total value of $210,410.46. Following the sale, the chief financial officer directly owned 113,314 shares in the company, valued at $4,551,823.38. This trade represents a 4.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 163,033 shares of company stock worth $7,242,708. 8.20% of the stock is owned by insiders.

Revolution Medicines Trading Up 1.3%

Shares of RVMD stock opened at $48.24 on Friday. The stock has a 50-day simple moving average of $41.05 and a 200 day simple moving average of $39.11. Revolution Medicines, Inc. has a fifty-two week low of $29.17 and a fifty-two week high of $62.40. The stock has a market capitalization of $9.02 billion, a P/E ratio of -10.72 and a beta of 1.27. The company has a quick ratio of 11.79, a current ratio of 11.79 and a debt-to-equity ratio of 0.13.

Revolution Medicines (NASDAQ:RVMD) last announced its earnings results on Wednesday, August 6th. The company reported ($1.31) earnings per share for the quarter, missing the consensus estimate of ($0.94) by ($0.37). During the same quarter last year, the company earned ($0.81) earnings per share. The business’s quarterly revenue was up .0% compared to the same quarter last year. On average, sell-side analysts expect that Revolution Medicines, Inc. will post -3.49 earnings per share for the current fiscal year.

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.