BI Asset Management Fondsmaeglerselskab A S Buys New Position in Revolution Medicines, Inc. $RVMD

BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of Revolution Medicines, Inc. (NASDAQ:RVMD) in the 1st quarter, HoldingsChannel reports. The firm bought 4,646 shares of the company’s stock, valued at approximately $452,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in shares of Revolution Medicines by 6.7% during the 4th quarter. Vanguard Group Inc. now owns 16,719,886 shares of the company’s stock worth $1,331,739,000 after acquiring an additional 1,056,792 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in 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 worth $1,696,000 after acquiring an additional 14,062 shares in the last quarter. Mass General Brigham Inc bought a new position in Revolution Medicines in the fourth quarter valued at $27,407,000. M&T Bank Corp bought a new position in Revolution Medicines in the fourth quarter valued at $52,723,000. Finally, Eagle Health Investments LP purchased a new stake in Revolution Medicines during the fourth quarter valued at about $9,231,000. Hedge funds and other institutional investors own 94.34% of the company’s stock.

Revolution Medicines Price Performance

RVMD stock opened at $178.17 on Friday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 6.80 and a current ratio of 6.80. Revolution Medicines, Inc. has a 52 week low of $34.00 and a 52 week high of $184.39. The firm’s fifty day moving average is $151.19 and its 200 day moving average is $116.22. The firm has a market cap of $37.88 billion, a P/E ratio of -25.20 and a beta of 1.40.

Revolution Medicines (NASDAQ:RVMD) last posted its quarterly earnings results on Wednesday, May 6th. The company reported ($2.29) earnings per share for the quarter, missing the consensus estimate of ($1.83) by ($0.46). During the same period last year, the company earned ($1.13) EPS. Research analysts predict that Revolution Medicines, Inc. will post -7.94 earnings per share for the current year.

Insider Buying and Selling

In other news, CFO Jack Anders sold 2,722 shares of Revolution Medicines stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $156.12, for a total value of $424,958.64. Following the transaction, the chief financial officer owned 123,269 shares in the company, valued at approximately $19,244,756.28. The trade was a 2.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Stephen Michael Kelsey sold 4,175 shares of the business’s stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $156.12, for a total value of $651,801.00. Following the completion of the sale, the insider directly owned 291,876 shares of the company’s stock, valued at approximately $45,567,681.12. This trade represents a 1.41% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 226,917 shares of company stock valued at $35,065,702 over the last three months. 7.60% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have issued reports on RVMD shares. Royal Bank Of Canada lifted their price target on Revolution Medicines from $165.00 to $182.00 and gave the stock an “outperform” rating in a research note on Tuesday, June 2nd. Wedbush reiterated an “outperform” rating on shares of Revolution Medicines in a research report on Monday, June 1st. Guggenheim raised their price objective on Revolution Medicines to $205.00 and gave the company a “buy” rating in a report on Thursday, May 7th. Evercore restated an “outperform” rating on shares of Revolution Medicines in a research report on Tuesday, April 14th. Finally, Piper Sandler boosted their target price on Revolution Medicines to $172.00 and gave the stock an “overweight” rating in a research report on Thursday, May 7th. Three research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $123.72.

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.