E Fund Management Co. Ltd. Reduces Position in Revolution Medicines, Inc. (NASDAQ:RVMD)

E Fund Management Co. Ltd. lowered its stake in Revolution Medicines, Inc. (NASDAQ:RVMD) by 16.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,274 shares of the company’s stock after selling 2,164 shares during the period. E Fund Management Co. Ltd.’s holdings in Revolution Medicines were worth $438,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in RVMD. Nisa Investment Advisors LLC raised its stake in shares of Revolution Medicines by 10.5% in the second quarter. Nisa Investment Advisors LLC now owns 3,378 shares of the company’s stock worth $131,000 after purchasing an additional 320 shares during the last quarter. Headlands Technologies LLC raised its position in Revolution Medicines by 140.9% during the 1st quarter. Headlands Technologies LLC now owns 1,513 shares of the company’s stock worth $49,000 after buying an additional 885 shares during the last quarter. Clear Harbor Asset Management LLC lifted its stake in Revolution Medicines by 10.2% during the 2nd quarter. Clear Harbor Asset Management LLC now owns 11,224 shares of the company’s stock valued at $436,000 after acquiring an additional 1,036 shares during the period. SG Americas Securities LLC lifted its stake in Revolution Medicines by 17.5% during the 2nd quarter. SG Americas Securities LLC now owns 10,730 shares of the company’s stock valued at $416,000 after acquiring an additional 1,601 shares during the period. Finally, Teacher Retirement System of Texas boosted its holdings in shares of Revolution Medicines by 10.6% in the 4th quarter. Teacher Retirement System of Texas now owns 23,375 shares of the company’s stock valued at $670,000 after acquiring an additional 2,238 shares during the last quarter. Hedge funds and other institutional investors own 94.34% of the company’s stock.

Insider Activity at Revolution Medicines

In other Revolution Medicines news, General Counsel Jeff Cislini sold 2,000 shares of the stock in a transaction that occurred on Wednesday, June 26th. The stock was sold at an average price of $38.47, for a total transaction of $76,940.00. Following the completion of the transaction, the general counsel now owns 49,487 shares of the company’s stock, valued at $1,903,764.89. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Mark A. Goldsmith sold 25,000 shares of the company’s stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $45.05, for a total transaction of $1,126,250.00. Following the completion of the sale, the insider now owns 311,885 shares of the company’s stock, valued at approximately $14,050,419.25. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, General Counsel Jeff Cislini sold 2,000 shares of the stock in a transaction dated Wednesday, June 26th. The shares were sold at an average price of $38.47, for a total transaction of $76,940.00. Following the completion of the sale, the general counsel now owns 49,487 shares of the company’s stock, valued at approximately $1,903,764.89. The disclosure for this sale can be found here. In the last three months, insiders have sold 58,421 shares of company stock valued at $2,637,077. 8.00% of the stock is owned by corporate insiders.

Revolution Medicines Price Performance

Shares of NASDAQ:RVMD opened at $44.06 on Thursday. The firm has a market capitalization of $7.27 billion, a price-to-earnings ratio of -11.75 and a beta of 1.43. The business’s 50 day moving average price is $43.92 and its 200-day moving average price is $38.95. Revolution Medicines, Inc. has a 1 year low of $15.44 and a 1 year high of $48.61.

Revolution Medicines (NASDAQ:RVMD) last posted its quarterly earnings data on Wednesday, August 7th. The company reported ($0.81) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.77) by ($0.04). The business had revenue of $1.00 million for the quarter, compared to analyst estimates of $0.81 million. The firm’s quarterly revenue was down 73.8% on a year-over-year basis. During the same quarter last year, the firm posted ($0.92) earnings per share. On average, sell-side analysts expect that Revolution Medicines, Inc. will post -3.47 earnings per share for the current year.

Analysts Set New Price Targets

RVMD has been the subject of several recent research reports. Wedbush reissued an “outperform” rating and set a $59.00 target price on shares of Revolution Medicines in a report on Thursday, August 8th. Needham & Company LLC reduced their price objective on Revolution Medicines from $62.00 to $61.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. JPMorgan Chase & Co. decreased their price objective on Revolution Medicines from $55.00 to $54.00 and set an “overweight” rating for the company in a report on Thursday, August 8th. Oppenheimer raised their target price on Revolution Medicines from $45.00 to $55.00 and gave the stock an “outperform” rating in a report on Tuesday, July 16th. Finally, Barclays lifted their price target on Revolution Medicines from $52.00 to $54.00 and gave the company an “overweight” rating in a research report on Thursday, July 18th. Eleven investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $52.92.

Revolution Medicines Company 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.