Nextech Invest Ltd. Buys 1,304,347 Shares of Revolution Medicines, Inc. (NASDAQ:RVMD)

Nextech Invest Ltd. raised its stake in Revolution Medicines, Inc. (NASDAQ:RVMD) by 20.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,601,087 shares of the company’s stock after acquiring an additional 1,304,347 shares during the quarter. Revolution Medicines comprises approximately 53.9% of Nextech Invest Ltd.’s investment portfolio, making the stock its biggest holding. Nextech Invest Ltd. owned approximately 4.52% of Revolution Medicines worth $332,472,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the stock. IFP Advisors Inc bought a new position in Revolution Medicines in the fourth quarter valued at approximately $34,000. Sterling Capital Management LLC lifted its holdings in Revolution Medicines by 588.7% during the 4th quarter. Sterling Capital Management LLC now owns 1,956 shares of the company’s stock valued at $86,000 after purchasing an additional 1,672 shares during the last quarter. Farther Finance Advisors LLC raised its holdings in Revolution Medicines by 368.3% in the 4th quarter. Farther Finance Advisors LLC now owns 2,051 shares of the company’s stock valued at $90,000 after acquiring an additional 1,613 shares during the period. Kapitalo Investimentos Ltda acquired a new stake in shares of Revolution Medicines in the fourth quarter valued at approximately $104,000. Finally, Daiwa Securities Group Inc. lifted its holdings in shares of Revolution Medicines by 521.8% during the 4th quarter. Daiwa Securities Group Inc. now owns 3,787 shares of the company’s stock worth $165,000 after acquiring an additional 3,178 shares during the period. 94.34% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently issued reports on RVMD. Oppenheimer raised their price objective on shares of Revolution Medicines from $70.00 to $75.00 and gave the company an “outperform” rating in a report on Thursday, May 8th. Stifel Nicolaus lowered their price objective on Revolution Medicines from $78.00 to $64.00 and set a “buy” rating for the company in a research report on Tuesday, April 1st. Guggenheim cut their target price on Revolution Medicines from $87.00 to $80.00 and set a “buy” rating on the stock in a research report on Thursday, May 8th. Needham & Company LLC restated a “buy” rating and issued a $57.00 target price on shares of Revolution Medicines in a research note on Thursday, May 8th. Finally, HC Wainwright upped their target price on shares of Revolution Medicines from $72.00 to $73.00 and gave the stock a “buy” rating in a report on Monday, March 3rd. Twelve analysts have rated the stock with a buy rating, Based on data from MarketBeat, Revolution Medicines presently has an average rating of “Buy” and a consensus price target of $67.17.

Revolution Medicines Trading Down 4.6%

NASDAQ RVMD opened at $39.95 on Wednesday. Revolution Medicines, Inc. has a 1-year low of $29.17 and a 1-year high of $62.40. The stock has a 50-day moving average of $37.42 and a 200-day moving average of $43.33. The firm has a market cap of $7.44 billion, a PE ratio of -11.13 and a beta of 1.11.

Revolution Medicines (NASDAQ:RVMD) last posted its earnings results on Wednesday, May 7th. The company reported ($1.13) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.12) by ($0.01). During the same period in the previous year, the firm posted ($0.70) earnings per share. As a group, equities research analysts forecast that Revolution Medicines, Inc. will post -3.49 earnings per share for the current fiscal year.

Insider Transactions at Revolution Medicines

In other news, COO Margaret A. Horn sold 3,058 shares of the company’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $39.04, for a total transaction of $119,384.32. Following the sale, the chief operating officer now directly owns 153,533 shares in the company, valued at approximately $5,993,928.32. This represents a 1.95% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Jack Anders sold 1,864 shares of the company’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $39.04, for a total transaction of $72,770.56. Following the transaction, the chief financial officer now owns 115,006 shares in the company, valued at $4,489,834.24. The trade was a 1.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 16,660 shares of company stock worth $650,406 over the last three months. 8.20% of the stock is currently owned by company insiders.

Revolution Medicines 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.