Bellevue Group AG Sells 157,740 Shares of Revolution Medicines, Inc. (NASDAQ:RVMD)

Bellevue Group AG lowered its stake in shares of Revolution Medicines, Inc. (NASDAQ:RVMD) by 3.1% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 4,871,360 shares of the company’s stock after selling 157,740 shares during the period. Revolution Medicines makes up approximately 3.6% of Bellevue Group AG’s portfolio, making the stock its 6th biggest holding. Bellevue Group AG owned about 2.90% of Revolution Medicines worth $220,916,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. CANADA LIFE ASSURANCE Co boosted its position in shares of Revolution Medicines by 74.8% during the first quarter. CANADA LIFE ASSURANCE Co now owns 15,646 shares of the company’s stock valued at $504,000 after buying an additional 6,696 shares during the last quarter. SG Americas Securities LLC grew its stake in shares of Revolution Medicines by 17.5% in the 2nd quarter. SG Americas Securities LLC now owns 10,730 shares of the company’s stock worth $416,000 after acquiring an additional 1,601 shares in the last quarter. Clear Harbor Asset Management LLC raised its holdings in shares of Revolution Medicines by 10.2% in the second quarter. Clear Harbor Asset Management LLC now owns 11,224 shares of the company’s stock valued at $436,000 after purchasing an additional 1,036 shares during the last quarter. Raymond James & Associates lifted its position in shares of Revolution Medicines by 196.4% during the second quarter. Raymond James & Associates now owns 74,370 shares of the company’s stock valued at $2,886,000 after purchasing an additional 49,275 shares in the last quarter. Finally, Nisa Investment Advisors LLC boosted its holdings in Revolution Medicines by 10.5% during the second quarter. Nisa Investment Advisors LLC now owns 3,378 shares of the company’s stock worth $131,000 after purchasing an additional 320 shares during the last quarter. 94.34% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on RVMD shares. Oppenheimer increased their price objective on shares of Revolution Medicines from $55.00 to $60.00 and gave the company an “outperform” rating in a research note on Monday, October 28th. JPMorgan Chase & Co. increased their price target on Revolution Medicines from $54.00 to $63.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. Needham & Company LLC boosted their price objective on Revolution Medicines from $61.00 to $68.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Guggenheim upped their price objective on Revolution Medicines from $72.00 to $82.00 and gave the company a “buy” rating in a research note on Monday, October 28th. Finally, Wedbush reiterated an “outperform” rating and set a $59.00 target price on shares of Revolution Medicines in a research note on Thursday, August 8th. Eleven research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $61.00.

Insiders Place Their Bets

In related news, Director Barbara Weber sold 5,200 shares of the company’s stock in a transaction that occurred on Tuesday, October 8th. The shares were sold at an average price of $48.02, for a total transaction of $249,704.00. Following the sale, the director now owns 13,065 shares of the company’s stock, valued at approximately $627,381.30. This represents a 28.47 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Stephen Michael Kelsey sold 16,666 shares of the firm’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $49.49, for a total transaction of $824,800.34. Following the completion of the transaction, the insider now directly owns 264,408 shares of the company’s stock, valued at approximately $13,085,551.92. The trade was a 5.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 127,866 shares of company stock worth $6,355,624 over the last 90 days. Corporate insiders own 8.00% of the company’s stock.

Revolution Medicines Stock Performance

Shares of Revolution Medicines stock opened at $57.85 on Friday. The stock has a market capitalization of $9.73 billion, a P/E ratio of -16.11 and a beta of 1.40. Revolution Medicines, Inc. has a 52-week low of $22.77 and a 52-week high of $62.40. The stock’s 50-day simple moving average is $51.89 and its 200 day simple moving average is $45.30.

Revolution Medicines (NASDAQ:RVMD) last announced its quarterly earnings results on Wednesday, November 6th. The company reported ($0.94) EPS for the quarter, missing analysts’ consensus estimates of ($0.89) by ($0.05). During the same quarter in the prior year, the firm posted ($0.99) EPS. Equities research analysts forecast that Revolution Medicines, Inc. will post -3.51 EPS for the current fiscal year.

Revolution Medicines Company 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.