Revolution Medicines, Inc. $RVMD Shares Acquired by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Revolution Medicines, Inc. (NASDAQ:RVMD) by 82.3% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 912,335 shares of the company’s stock after purchasing an additional 411,740 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.43% of Revolution Medicines worth $170,862,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in RVMD. Equitable Holdings Inc. acquired a new stake in shares of Revolution Medicines in the second quarter valued at about $963,000. State of Wyoming acquired a new position in Revolution Medicines during the second quarter worth about $1,769,000. Handelsbanken Fonder AB grew its position in Revolution Medicines by 243.6% during the second quarter. Handelsbanken Fonder AB now owns 212,275 shares of the company’s stock worth $39,755,000 after buying an additional 150,500 shares during the period. Eagle Health Investments LP purchased a new position in Revolution Medicines in the fourth quarter valued at about $9,231,000. Finally, Bank of New York Mellon Corp purchased a new position in Revolution Medicines in the second quarter valued at about $112,566,000. Institutional investors and hedge funds own 94.34% of the company’s stock.

Analyst Ratings Changes

RVMD has been the topic of several research analyst reports. Wolfe Research reissued an “outperform” rating and set a $220.00 price target on shares of Revolution Medicines in a research note on Monday, August 10th. Piper Sandler lifted their price target on Revolution Medicines to $172.00 and gave the stock an “overweight” rating in a research note on Thursday, May 7th. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $248.00 target price on shares of Revolution Medicines in a research note on Thursday, August 27th. Evercore reiterated an “outperform” rating and set a $320.00 price target on shares of Revolution Medicines in a report on Thursday, August 27th. Finally, Oppenheimer raised their price objective on Revolution Medicines from $230.00 to $260.00 and gave the stock an “outperform” rating in a report on Thursday, August 27th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Revolution Medicines presently has an average rating of “Moderate Buy” and an average target price of $200.74.

Insiders Place Their Bets

In other Revolution Medicines news, insider Stephen Michael Kelsey sold 4,175 shares of the company’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 represents a 1.41% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Sushil Patel sold 5,580 shares of the firm’s stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $187.99, for a total transaction of $1,048,984.20. Following the transaction, the director owned 21,656 shares of the company’s stock, valued at approximately $4,071,111.44. This trade represents a 20.49% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 212,497 shares of company stock valued at $38,206,486. 7.60% of the stock is currently owned by insiders.

Revolution Medicines Trading Up 2.1%

Revolution Medicines stock opened at $209.87 on Wednesday. Revolution Medicines, Inc. has a 12-month low of $37.88 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 stock has a market capitalization of $44.98 billion, a PE ratio of -23.79 and a beta of 1.40. The firm has a 50 day simple moving average of $194.93 and a 200-day simple moving average of $150.51.

Revolution Medicines (NASDAQ:RVMD) 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 expect that Revolution Medicines, Inc. will post -8.84 EPS 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.