Swiss National Bank Increases Stock Position in Revolution Medicines, Inc. $RVMD

Swiss National Bank increased its holdings in Revolution Medicines, Inc. (NASDAQ:RVMD) by 54.0% in the 1st quarter, Holdings Channel reports. The institutional investor owned 425,431 shares of the company’s stock after purchasing an additional 149,100 shares during the period. Swiss National Bank’s holdings in Revolution Medicines were worth $41,373,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. Global Retirement Partners LLC raised its holdings in Revolution Medicines by 1,002.8% during the 4th quarter. Global Retirement Partners LLC now owns 397 shares of the company’s stock valued at $32,000 after acquiring an additional 361 shares during the period. Indiana Trust & Investment Management Co purchased a new stake in shares of Revolution Medicines during the fourth quarter worth $32,000. Torren Management LLC bought a new position in shares of Revolution Medicines in the fourth quarter worth $33,000. Arax Advisory Partners bought a new position in shares of Revolution Medicines in the fourth quarter worth $38,000. Finally, Darwin Wealth Management LLC purchased a new position in shares of Revolution Medicines in the fourth quarter valued at $40,000. 94.34% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on RVMD. Guggenheim boosted their price objective on Revolution Medicines from $205.00 to $235.00 and gave the company a “buy” rating in a research note on Thursday, July 9th. Mizuho lifted their target price on Revolution Medicines from $185.00 to $215.00 and gave the company an “outperform” rating in a report on Monday, July 6th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Revolution Medicines in a research report on Friday, July 17th. Needham & Company LLC upped their price target on Revolution Medicines from $235.00 to $236.00 and gave the company a “buy” rating in a research report on Monday. Finally, Stifel Nicolaus reissued a “buy” rating on shares of Revolution Medicines in a report on Monday, April 20th. Two investment 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. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $144.06.

Insiders Place Their Bets

In other news, insider Mark A. Goldsmith sold 10,020 shares of the business’s stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $156.12, for a total transaction of $1,564,322.40. Following the completion of the transaction, the insider owned 267,330 shares of the company’s stock, valued at approximately $41,735,559.60. The trade was a 3.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through 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 company’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 completion of the transaction, the chief financial officer owned 123,269 shares in the company, valued at approximately $20,749,870.77. This trade represents a 13.96% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 132,497 shares of company stock worth $21,470,486. 7.60% of the stock is owned by corporate insiders.

Revolution Medicines Trading Down 0.1%

Revolution Medicines stock opened at $183.03 on Thursday. The stock has a market cap of $38.91 billion, a P/E ratio of -25.89 and a beta of 1.37. Revolution Medicines, Inc. has a fifty-two week low of $34.00 and a fifty-two week high of $193.82. The firm’s fifty day moving average price is $167.21 and its 200-day moving average price is $130.55. 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 (NASDAQ:RVMD) last issued its quarterly earnings data on Wednesday, May 6th. The company reported ($2.29) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.83) by ($0.46). During the same period in the prior year, the firm posted ($1.13) earnings per share. Equities research analysts forecast that Revolution Medicines, Inc. will post -7.9 earnings per share for the current fiscal year.

About Revolution Medicines

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.