Swiss National Bank Boosts Stock Position in Revolution Medicines, Inc. (NASDAQ:RVMD)

Swiss National Bank lifted its holdings in shares of Revolution Medicines, Inc. (NASDAQ:RVMD) by 2.0% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 229,931 shares of the company’s stock after acquiring an additional 4,400 shares during the period. Swiss National Bank’s holdings in Revolution Medicines were worth $10,057,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of RVMD. KBC Group NV lifted its holdings in shares of Revolution Medicines by 12.9% during the third quarter. KBC Group NV now owns 3,221 shares of the company’s stock worth $146,000 after purchasing an additional 368 shares during the period. CIBC Asset Management Inc purchased a new stake in Revolution Medicines in the 3rd quarter valued at $216,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Revolution Medicines in the 3rd quarter valued at $1,220,000. Intech Investment Management LLC purchased a new stake in Revolution Medicines in the 3rd quarter valued at $1,709,000. Finally, Charles Schwab Investment Management Inc. grew its holdings in Revolution Medicines by 58.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,763,117 shares of the company’s stock valued at $79,957,000 after buying an additional 653,433 shares in the last quarter. Institutional investors and hedge funds own 94.34% of the company’s stock.

Insider Transactions at Revolution Medicines

In other Revolution Medicines news, insider Mark A. Goldsmith sold 11,738 shares of the company’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $39.04, for a total transaction of $458,251.52. Following the completion of the sale, the insider now directly owns 441,564 shares in the company, valued at $17,238,658.56. This represents a 2.59 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Jack Anders sold 1,864 shares of the company’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $39.04, for a total value of $72,770.56. Following the completion of the sale, the chief financial officer now directly owns 115,006 shares of the company’s stock, valued at $4,489,834.24. The trade was a 1.59 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 16,660 shares of company stock valued at $650,406 over the last three months. 8.00% of the stock is currently owned by insiders.

Revolution Medicines Stock Performance

RVMD opened at $38.49 on Friday. The business’s fifty day moving average is $40.63 and its two-hundred day moving average is $45.73. The company has a market cap of $7.16 billion, a price-to-earnings ratio of -10.72 and a beta of 1.46. Revolution Medicines, Inc. has a one year low of $29.55 and a one year high of $62.40.

Revolution Medicines (NASDAQ:RVMD) last released its quarterly earnings results on Wednesday, February 26th. The company reported ($1.12) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.01) by ($0.11). On average, analysts predict that Revolution Medicines, Inc. will post -3.49 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on RVMD shares. HC Wainwright upped their price target on Revolution Medicines from $72.00 to $73.00 and gave the company a “buy” rating in a research note on Monday, March 3rd. JPMorgan Chase & Co. increased their price target on Revolution Medicines from $63.00 to $71.00 and gave the company an “overweight” rating in a research report on Tuesday, December 3rd. Wedbush reiterated an “outperform” rating and issued a $67.00 price objective on shares of Revolution Medicines in a report on Thursday, February 27th. UBS Group lifted their price target on Revolution Medicines from $65.00 to $71.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. Finally, Stifel Nicolaus dropped their target price on Revolution Medicines from $80.00 to $78.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. Twelve investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $66.31.

Revolution Medicines Profile

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.