Swiss National Bank raised its holdings in Revolution Medicines, Inc. (NASDAQ:RVMD – Free Report) by 54.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 425,431 shares of the company’s stock after buying an additional 149,100 shares during the period. Swiss National Bank owned about 0.20% of Revolution Medicines worth $41,373,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of Revolution Medicines by 6.7% in the fourth quarter. Vanguard Group Inc. now owns 16,719,886 shares of the company’s stock worth $1,331,739,000 after purchasing an additional 1,056,792 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Revolution Medicines by 194.6% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 21,289 shares of the company’s stock valued at $1,696,000 after purchasing an additional 14,062 shares in the last quarter. Mass General Brigham Inc purchased a new position in shares of Revolution Medicines during the fourth quarter valued at approximately $27,407,000. Eagle Health Investments LP bought a new stake in Revolution Medicines during the fourth quarter worth $9,231,000. Finally, M&T Bank Corp bought a new stake in Revolution Medicines during the fourth quarter worth $52,723,000. 94.34% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of research firms recently commented on RVMD. Guggenheim increased their price target on Revolution Medicines from $205.00 to $235.00 and gave the company a “buy” rating in a research report on Thursday, July 9th. HC Wainwright reiterated a “buy” rating and issued a $195.00 target price on shares of Revolution Medicines in a research note on Monday, July 6th. Sanford C. Bernstein initiated coverage on shares of Revolution Medicines in a report on Thursday, May 21st. They issued a “market perform” rating and a $151.00 target price for the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Revolution Medicines in a research report on Friday, July 17th. Finally, Royal Bank Of Canada boosted their price target on shares of Revolution Medicines from $165.00 to $182.00 and gave the stock an “outperform” rating in a report on Tuesday, June 2nd. Two analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $144.06.
Insiders Place Their Bets
In other news, insider Stephen Michael Kelsey sold 4,175 shares of the stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $156.12, for a total transaction of $651,801.00. Following the completion of the transaction, the insider directly owned 291,876 shares of the company’s stock, valued at $45,567,681.12. This represents a 1.41% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Jack Anders sold 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 24th. The stock was sold at an average price of $168.33, for a total transaction of $3,366,600.00. Following the sale, the chief financial officer owned 123,269 shares of the company’s stock, valued at approximately $20,749,870.77. The trade was a 13.96% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 132,497 shares of company stock valued at $21,470,486. Company insiders own 7.60% of the company’s stock.
Revolution Medicines Stock Down 0.1%
Shares of NASDAQ:RVMD opened at $183.03 on Thursday. The company has a market capitalization of $38.91 billion, a PE ratio of -25.89 and a beta of 1.37. The company has a debt-to-equity ratio of 0.19, a current ratio of 6.80 and a quick ratio of 6.80. The business has a fifty day moving average price of $167.21 and a two-hundred day moving average price of $130.55. Revolution Medicines, Inc. has a 1 year low of $34.00 and a 1 year high of $193.82.
Revolution Medicines (NASDAQ:RVMD – Get Free Report) last released its earnings results on Wednesday, May 6th. The company reported ($2.29) EPS for the quarter, missing analysts’ consensus estimates of ($1.83) by ($0.46). During the same period in the prior year, the company posted ($1.13) earnings per share. Analysts forecast that Revolution Medicines, Inc. will post -7.9 earnings per share for the current year.
Revolution Medicines Company Profile
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.
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