ABN Amro Investment Solutions Purchases Shares of 6,794 Revolution Medicines, Inc. $RVMD

ABN Amro Investment Solutions acquired a new position in shares of Revolution Medicines, Inc. (NASDAQ:RVMD) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 6,794 shares of the company’s stock, valued at approximately $661,000.

Several other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in Revolution Medicines by 6.7% during the 4th quarter. Vanguard Group Inc. now owns 16,719,886 shares of the company’s stock valued at $1,331,739,000 after purchasing an additional 1,056,792 shares in the last quarter. Janus Henderson Group PLC lifted its position in Revolution Medicines by 8.3% during the 4th quarter. Janus Henderson Group PLC now owns 12,303,502 shares of the company’s stock worth $980,036,000 after buying an additional 947,448 shares in the last quarter. Nextech Invest Ltd. grew its holdings in Revolution Medicines by 20.7% during the 4th quarter. Nextech Invest Ltd. now owns 7,601,087 shares of the company’s stock worth $332,472,000 after acquiring an additional 1,304,347 shares during the last quarter. Paradigm Biocapital Advisors LP grew its holdings in Revolution Medicines by 6.8% during the 4th quarter. Paradigm Biocapital Advisors LP now owns 6,644,403 shares of the company’s stock worth $529,227,000 after acquiring an additional 421,112 shares during the last quarter. Finally, Bellevue Group AG increased its position in Revolution Medicines by 21.7% in the 3rd quarter. Bellevue Group AG now owns 5,573,838 shares of the company’s stock valued at $260,298,000 after acquiring an additional 994,538 shares in the last quarter. 94.34% of the stock is owned by institutional investors.

Revolution Medicines Trading Up 0.3%

RVMD opened at $189.23 on Friday. 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 company has a market cap of $40.23 billion, a price-to-earnings ratio of -26.77 and a beta of 1.37. The firm has a 50 day simple moving average of $168.87 and a 200 day simple moving average of $131.73. Revolution Medicines, Inc. has a fifty-two week low of $34.00 and a fifty-two week high of $193.82.

Revolution Medicines (NASDAQ:RVMD) last announced 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 quarter in the previous year, the company earned ($1.13) EPS. On average, sell-side analysts anticipate that Revolution Medicines, Inc. will post -7.91 earnings per share for the current year.

Insider Activity

In other news, CFO Jack Anders sold 20,000 shares of the business’s stock in a transaction dated 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 directly owned 123,269 shares in the company, valued at approximately $20,749,870.77. The trade was a 13.96% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Stephen Michael Kelsey sold 4,175 shares of the stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $156.12, for a total transaction of $651,801.00. Following the completion of the sale, the insider owned 291,876 shares in the company, valued at $45,567,681.12. This represents a 1.41% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders have sold 132,497 shares of company stock valued at $21,470,486. Insiders own 7.60% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on RVMD shares. Wedbush upped their target price on shares of Revolution Medicines from $181.00 to $192.10 and gave the stock an “outperform” rating in a research report on Thursday. Truist Financial raised their price target on shares of Revolution Medicines from $179.00 to $210.00 and gave the company a “buy” rating in a report on Tuesday, June 30th. Evercore restated an “outperform” rating on shares of Revolution Medicines in a research report on Tuesday, April 14th. Mizuho upped their price objective on Revolution Medicines from $185.00 to $215.00 and gave the stock an “outperform” rating in a report on Monday, July 6th. Finally, Sanford C. Bernstein started coverage on Revolution Medicines in a research report on Thursday, May 21st. They issued a “market perform” rating and a $151.00 price objective on the stock. Two 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 company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $144.67.

Revolution Medicines Profile

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.