Nykredit A S bought a new stake in Revolution Medicines, Inc. (NASDAQ:RVMD – Free Report) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 52,663 shares of the company’s stock, valued at approximately $9,863,000.
Other hedge funds have also made changes to their positions in the company. Janus Henderson Group PLC raised its position in Revolution Medicines by 8.3% during the fourth quarter. Janus Henderson Group PLC now owns 12,303,502 shares of the company’s stock worth $980,036,000 after acquiring an additional 947,448 shares during the last quarter. Nextech Invest Ltd. boosted its holdings 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 purchasing an additional 1,304,347 shares during the last quarter. Paradigm Biocapital Advisors LP grew its holdings in Revolution Medicines by 6.8% in the 4th quarter. Paradigm Biocapital Advisors LP now owns 6,644,403 shares of the company’s stock valued at $529,227,000 after buying an additional 421,112 shares during the period. Bellevue Group AG increased its position in Revolution Medicines by 21.7% during the third quarter. Bellevue Group AG now owns 5,573,838 shares of the company’s stock worth $260,298,000 after purchasing an additional 994,538 shares during the last quarter. Finally, Deerfield Management Company L.P. raised its position in shares of Revolution Medicines by 7.9% in the 3rd quarter. Deerfield Management Company L.P. now owns 3,650,342 shares of the company’s stock worth $170,471,000 after buying an additional 266,270 shares during the period. Hedge funds and other institutional investors own 94.34% of the company’s stock.
Analysts Set New Price Targets
Several brokerages recently issued reports on RVMD. Royal Bank Of Canada increased their price target on Revolution Medicines from $203.00 to $251.00 and gave the company an “outperform” rating in a report on Thursday, August 27th. Wedbush lifted their price target on Revolution Medicines from $201.00 to $225.00 and gave the stock an “outperform” rating in a research note on Thursday, August 27th. Wolfe Research reissued an “outperform” rating and set a $220.00 target price on shares of Revolution Medicines in a report on Monday, August 10th. UBS Group raised their price target on Revolution Medicines from $220.00 to $265.00 and gave the stock a “buy” rating in a report on Friday, August 28th. Finally, Truist Financial upped their target price on shares of Revolution Medicines from $231.00 to $239.00 and gave the stock a “buy” rating in a research report on Thursday, August 27th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $200.74.
Revolution Medicines Price Performance
NASDAQ RVMD opened at $210.02 on Friday. Revolution Medicines, Inc. has a 12 month low of $39.17 and a 12 month high of $224.31. The company has a debt-to-equity ratio of 0.40, a current ratio of 11.38 and a quick ratio of 11.38. The firm has a market capitalization of $45.02 billion, a PE ratio of -23.81 and a beta of 1.40. The company’s 50 day simple moving average is $196.93 and its 200 day simple moving average is $152.51.
Revolution Medicines (NASDAQ:RVMD – Get Free Report) last released its earnings results on Wednesday, August 5th. The company reported ($3.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($2.04) by ($1.02). During the same period in the previous year, the business posted ($1.31) earnings per share. As a group, equities research analysts forecast that Revolution Medicines, Inc. will post -8.83 EPS for the current fiscal year.
Insider Buying and Selling
In other news, CFO Jack Anders sold 20,000 shares of the company’s stock in a transaction on Wednesday, June 24th. The stock was sold at an average price of $168.33, for a total value of $3,366,600.00. Following the completion of the sale, the chief financial officer owned 123,269 shares in the company, valued at $20,749,870.77. This represents a 13.96% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, COO Margaret Horn sold 29,600 shares of the company’s stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $160.12, for a total value of $4,739,552.00. Following the completion of the sale, the chief operating officer owned 154,647 shares of the company’s stock, valued at approximately $24,762,077.64. This trade represents a 16.07% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders have sold 268,497 shares of company stock worth $49,587,926. 7.60% of the stock is owned by corporate insiders.
Revolution Medicines 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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