Handelsbanken Fonder AB Buys 25,975 Shares of Revolution Medicines, Inc. (NASDAQ:RVMD)

Handelsbanken Fonder AB raised its stake in Revolution Medicines, Inc. (NASDAQ:RVMD) by 182.9% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 40,175 shares of the company’s stock after purchasing an additional 25,975 shares during the quarter. Handelsbanken Fonder AB’s holdings in Revolution Medicines were worth $1,152,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in RVMD. Wellington Management Group LLP grew its stake in shares of Revolution Medicines by 2.7% in the third quarter. Wellington Management Group LLP now owns 10,572,475 shares of the company’s stock worth $292,646,000 after purchasing an additional 282,786 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Revolution Medicines by 3.2% in the 3rd quarter. Vanguard Group Inc. now owns 9,643,591 shares of the company’s stock worth $266,935,000 after buying an additional 303,088 shares during the period. Northern Trust Corp grew its position in shares of Revolution Medicines by 1.7% in the 3rd quarter. Northern Trust Corp now owns 933,125 shares of the company’s stock worth $25,829,000 after buying an additional 15,432 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Revolution Medicines by 7.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 766,669 shares of the company’s stock worth $21,221,000 after buying an additional 55,558 shares during the last quarter. Finally, Rock Springs Capital Management LP increased its stake in shares of Revolution Medicines by 3.2% during the third quarter. Rock Springs Capital Management LP now owns 725,152 shares of the company’s stock valued at $20,072,000 after buying an additional 22,440 shares during the period. Hedge funds and other institutional investors own 94.34% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on RVMD shares. Piper Sandler started coverage on shares of Revolution Medicines in a report on Monday, March 11th. They issued an “overweight” rating and a $43.00 price target on the stock. Wedbush lifted their target price on shares of Revolution Medicines from $41.00 to $42.00 and gave the company an “outperform” rating in a research note on Tuesday, February 27th. Oppenheimer boosted their price target on shares of Revolution Medicines from $43.00 to $45.00 and gave the company an “outperform” rating in a research report on Friday, April 12th. Raymond James upgraded shares of Revolution Medicines from an “outperform” rating to a “strong-buy” rating and raised their price objective for the stock from $36.00 to $48.00 in a report on Wednesday, April 10th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $46.00 target price (up previously from $36.00) on shares of Revolution Medicines in a report on Monday, April 8th. Nine research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $41.20.

Revolution Medicines Stock Up 1.8 %

Shares of NASDAQ RVMD opened at $35.96 on Monday. The company has a 50 day simple moving average of $32.33 and a two-hundred day simple moving average of $28.01. Revolution Medicines, Inc. has a fifty-two week low of $15.44 and a fifty-two week high of $38.73.

Revolution Medicines (NASDAQ:RVMD) last posted its quarterly earnings data on Monday, February 26th. The company reported ($1.14) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.85) by ($0.29). The company had revenue of $0.74 million during the quarter, compared to the consensus estimate of $1.20 million. During the same period in the previous year, the business posted ($0.63) earnings per share. The firm’s quarterly revenue was down 95.2% compared to the same quarter last year. Analysts predict that Revolution Medicines, Inc. will post -3.18 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Stephen Michael Kelsey sold 2,123 shares of the company’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $31.58, for a total value of $67,044.34. Following the transaction, the insider now owns 270,909 shares in the company, valued at approximately $8,555,306.22. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, insider Stephen Michael Kelsey sold 2,123 shares of the stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $31.58, for a total transaction of $67,044.34. Following the sale, the insider now owns 270,909 shares in the company, valued at $8,555,306.22. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, General Counsel Jeff Cislini sold 1,252 shares of the firm’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $31.58, for a total transaction of $39,538.16. Following the sale, the general counsel now directly owns 55,874 shares of the company’s stock, valued at approximately $1,764,500.92. The disclosure for this sale can be found here. Insiders sold 18,705 shares of company stock worth $630,749 over the last three months. 8.50% of the stock is currently owned by corporate insiders.

About Revolution Medicines

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.