Andra AP fonden Buys Shares of 16,600 Revolution Medicines, Inc. $RVMD

Andra AP fonden purchased a new position in Revolution Medicines, Inc. (NASDAQ:RVMD) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 16,600 shares of the company’s stock, valued at approximately $1,614,000.

Other large investors also recently modified their holdings of the company. Meeder Advisory Services Inc. boosted its position in Revolution Medicines by 3.0% in the first quarter. Meeder Advisory Services Inc. now owns 4,126 shares of the company’s stock worth $401,000 after purchasing an additional 120 shares during the last quarter. Parallel Advisors LLC grew its stake in shares of Revolution Medicines by 181.0% during the 1st quarter. Parallel Advisors LLC now owns 562 shares of the company’s stock valued at $55,000 after purchasing an additional 362 shares during the period. KBC Group NV increased its position in shares of Revolution Medicines by 266.6% during the 1st quarter. KBC Group NV now owns 15,395 shares of the company’s stock valued at $1,497,000 after purchasing an additional 11,196 shares during the last quarter. SEB Asset Management AB purchased a new stake in shares of Revolution Medicines during the 1st quarter valued at about $6,772,000. Finally, Swiss National Bank lifted its stake in shares of Revolution Medicines by 54.0% in the 1st quarter. Swiss National Bank now owns 425,431 shares of the company’s stock worth $41,373,000 after purchasing an additional 149,100 shares during the period. Institutional investors own 94.34% of the company’s stock.

Revolution Medicines Stock Performance

RVMD opened at $188.75 on Friday. The company has a 50 day simple moving average of $168.00 and a two-hundred day simple moving average of $131.32. The company has a debt-to-equity ratio of 0.19, a current ratio of 6.80 and a quick ratio of 6.80. The firm has a market cap of $40.13 billion, a P/E ratio of -26.70 and a beta of 1.37. Revolution Medicines, Inc. has a 1-year low of $34.00 and a 1-year high of $193.82.

Revolution Medicines (NASDAQ:RVMD) last announced its quarterly earnings data on Wednesday, May 6th. The company reported ($2.29) EPS for the quarter, missing the consensus estimate of ($1.83) by ($0.46). During the same quarter in the previous year, the company posted ($1.13) EPS. Equities analysts forecast that Revolution Medicines, Inc. will post -7.9 earnings per share for the current fiscal year.

Insider Activity at Revolution Medicines

In related news, COO Margaret A. Horn sold 29,600 shares of the business’s stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $160.12, for a total value of $4,739,552.00. Following the transaction, the chief operating officer directly owned 154,647 shares of the company’s stock, valued at approximately $24,762,077.64. The trade was a 16.07% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Mark A. Goldsmith sold 10,020 shares of the business’s stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $156.12, for a total value of $1,564,322.40. Following the completion of the transaction, the insider directly owned 267,330 shares in the company, valued at approximately $41,735,559.60. This represents a 3.61% decrease in their ownership of the stock. 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 have sold 132,497 shares of company stock worth $21,470,486 in the last three months. Corporate insiders own 7.60% of the company’s stock.

Analyst Upgrades and Downgrades

RVMD has been the topic of a number of research reports. Truist Financial raised their price objective on shares of Revolution Medicines from $179.00 to $210.00 and gave the stock a “buy” rating in a report on Tuesday, June 30th. Mizuho increased their price target on shares of Revolution Medicines from $185.00 to $215.00 and gave the stock an “outperform” rating in a research report on Monday, July 6th. Guggenheim lifted their price target on shares of Revolution Medicines from $205.00 to $235.00 and gave the stock a “buy” rating in a research note on Thursday, July 9th. Wedbush boosted their price objective on shares of Revolution Medicines from $181.00 to $192.10 and gave the company an “outperform” rating in a research report on Thursday. Finally, Needham & Company LLC boosted their price objective on shares of Revolution Medicines from $235.00 to $236.00 and gave the company a “buy” rating in a research report on Monday. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Revolution Medicines presently has a consensus rating of “Moderate Buy” and an average price target of $144.67.

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.