Revolution Medicines, Inc. $RVMD Shares Sold by KBC Group NV

KBC Group NV trimmed its holdings in shares of Revolution Medicines, Inc. (NASDAQ:RVMD) by 31.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,199 shares of the company’s stock after selling 1,932 shares during the quarter. KBC Group NV’s holdings in Revolution Medicines were worth $154,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Nextech Invest Ltd. grew its stake in shares of Revolution Medicines by 20.7% during the fourth quarter. Nextech Invest Ltd. now owns 7,601,087 shares of the company’s stock worth $332,472,000 after acquiring an additional 1,304,347 shares during the last quarter. Cerity Partners LLC grew its position in Revolution Medicines by 59.1% during the 1st quarter. Cerity Partners LLC now owns 9,069 shares of the company’s stock worth $321,000 after purchasing an additional 3,370 shares during the last quarter. Kestra Private Wealth Services LLC acquired a new position in Revolution Medicines during the 1st quarter valued at approximately $216,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Revolution Medicines in the first quarter worth $2,343,000. Finally, KLP Kapitalforvaltning AS raised its holdings in shares of Revolution Medicines by 17.4% in the first quarter. KLP Kapitalforvaltning AS now owns 27,604 shares of the company’s stock worth $976,000 after buying an additional 4,100 shares during the last quarter. 94.34% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on RVMD. Needham & Company LLC boosted their price objective 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. Piper Sandler started coverage on Revolution Medicines in a research note on Monday, August 18th. They set an “overweight” rating and a $75.00 price target on the stock. Mizuho started coverage on Revolution Medicines in a research note on Tuesday, October 21st. They issued an “outperform” rating and a $90.00 price objective for the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Revolution Medicines in a research report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. raised their price target on shares of Revolution Medicines from $71.00 to $82.00 and gave the stock an “overweight” rating in a research report on Thursday, November 6th. Two analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Revolution Medicines currently has a consensus rating of “Buy” and an average target price of $78.50.

Insider Activity

In other Revolution Medicines news, COO Margaret A. Horn sold 4,775 shares of the company’s stock in a transaction dated Tuesday, September 16th. The shares were sold at an average price of $45.82, for a total value of $218,790.50. Following the completion of the transaction, the chief operating officer owned 145,900 shares in the company, valued at approximately $6,685,138. This represents a 3.17% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Jack Anders sold 2,320 shares of the firm’s stock in a transaction dated Tuesday, September 16th. The shares were sold at an average price of $45.82, for a total value of $106,302.40. Following the sale, the chief financial officer owned 110,994 shares in the company, valued at $5,085,745.08. This trade represents a 2.05% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 238,033 shares of company stock valued at $11,566,908 in the last three months. Corporate insiders own 8.20% of the company’s stock.

Revolution Medicines Stock Down 0.1%

Shares of RVMD opened at $70.53 on Thursday. The company has a market capitalization of $13.63 billion, a price-to-earnings ratio of -13.64 and a beta of 1.25. Revolution Medicines, Inc. has a 52 week low of $29.17 and a 52 week high of $71.62. The stock’s 50-day moving average price is $52.94 and its 200-day moving average price is $43.53. 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 (NASDAQ:RVMD) last announced its quarterly earnings results on Wednesday, November 5th. The company reported ($1.61) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.39) by ($0.22). During the same quarter in the prior year, the business earned ($0.94) earnings per share. On average, sell-side analysts predict that Revolution Medicines, Inc. will post -3.49 EPS for the current year.

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.