Swiss National Bank Cuts Stock Holdings in Revolution Medicines, Inc. $RVMD

Swiss National Bank cut its holdings in Revolution Medicines, Inc. (NASDAQ:RVMD) by 3.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 266,431 shares of the company’s stock after selling 10,100 shares during the quarter. Swiss National Bank owned approximately 0.14% of Revolution Medicines worth $9,802,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also added to or reduced their stakes in the company. T. Rowe Price Investment Management Inc. bought a new position in shares of Revolution Medicines in the 1st quarter worth about $59,173,000. Nextech Invest Ltd. grew its position in Revolution Medicines by 20.7% in the 4th quarter. Nextech Invest Ltd. now owns 7,601,087 shares of the company’s stock worth $332,472,000 after purchasing an additional 1,304,347 shares during the period. Westfield Capital Management Co. LP raised its stake in Revolution Medicines by 18,248.8% during the 1st quarter. Westfield Capital Management Co. LP now owns 1,064,046 shares of the company’s stock valued at $37,625,000 after buying an additional 1,058,247 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of Revolution Medicines by 8.9% in the 1st quarter. Wellington Management Group LLP now owns 11,787,921 shares of the company’s stock worth $416,821,000 after buying an additional 966,230 shares during the last quarter. Finally, BVF Inc. IL grew its stake in shares of Revolution Medicines by 19.2% during the 1st quarter. BVF Inc. IL now owns 4,982,384 shares of the company’s stock valued at $176,177,000 after purchasing an additional 801,205 shares during the period. 94.34% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Revolution Medicines

In other Revolution Medicines news, CFO Jack Anders sold 5,238 shares of the stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $40.17, for a total transaction of $210,410.46. Following the sale, the chief financial officer owned 113,314 shares in the company, valued at approximately $4,551,823.38. This represents a 4.42% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Mark A. Goldsmith sold 60,000 shares of the stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $75.08, for a total value of $4,504,800.00. Following the transaction, the insider directly owned 247,863 shares in the company, valued at approximately $18,609,554.04. This represents a 19.49% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 318,033 shares of company stock worth $17,479,308. Insiders own 8.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on RVMD. Truist Financial initiated coverage on shares of Revolution Medicines in a research report on Friday, September 5th. They set a “buy” rating and a $99.00 price objective on the stock. Lifesci Capital began coverage on Revolution Medicines in a report on Monday, August 18th. They issued an “outperform” rating and a $80.00 target price for the company. Royal Bank Of Canada initiated coverage on shares of Revolution Medicines in a research report on Monday, November 3rd. They set an “outperform” rating and a $77.00 price objective on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Revolution Medicines from $71.00 to $82.00 and gave the company an “overweight” rating in a report on Thursday, November 6th. Finally, HC Wainwright increased their target price on Revolution Medicines from $72.00 to $73.00 and gave the company a “buy” rating in a research report on Thursday, November 6th. Three investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of “Buy” and an average price target of $78.50.

Revolution Medicines Stock Up 0.3%

Shares of RVMD opened at $77.78 on Friday. Revolution Medicines, Inc. has a 12-month low of $29.17 and a 12-month high of $78.17. The company’s 50-day moving average price is $57.09 and its 200 day moving average price is $45.20. The firm has a market cap of $15.04 billion, a P/E ratio of -15.04 and a beta of 1.25. The company has a current ratio of 8.05, a quick ratio of 8.05 and a debt-to-equity ratio of 0.16.

Revolution Medicines (NASDAQ:RVMD) last released its earnings results on Wednesday, November 5th. The company reported ($1.61) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.39) by ($0.22). During the same quarter in the previous year, the firm posted ($0.94) earnings per share. On average, sell-side analysts forecast that Revolution Medicines, Inc. will post -3.49 earnings per share for the current year.

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.