Danske Bank A S Takes $14.83 Million Position in Revolution Medicines, Inc. $RVMD

Danske Bank A S acquired a new stake in shares of Revolution Medicines, Inc. (NASDAQ:RVMD) during the 2nd quarter, HoldingsChannel reports. The institutional investor acquired 79,200 shares of the company’s stock, valued at approximately $14,833,000.

A number of other large investors also recently bought and sold shares of the business. Contravisory Investment Management Inc. purchased a new position in shares of Revolution Medicines in the 2nd quarter valued at $32,000. Global Retirement Partners LLC lifted its stake in shares of Revolution Medicines by 1,002.8% during the 4th quarter. Global Retirement Partners LLC now owns 397 shares of the company’s stock worth $32,000 after purchasing an additional 361 shares during the last quarter. Torren Management LLC bought a new stake in Revolution Medicines during the fourth quarter valued at about $33,000. Arax Advisory Partners bought a new stake in Revolution Medicines during the fourth quarter valued at about $38,000. Finally, Allworth Financial LP boosted its position in Revolution Medicines by 57.2% during the fourth quarter. Allworth Financial LP now owns 577 shares of the company’s stock valued at $46,000 after purchasing an additional 210 shares in the last quarter. Institutional investors own 94.34% of the company’s stock.

Revolution Medicines Stock Performance

Shares of NASDAQ RVMD opened at $211.74 on Friday. The company has a market capitalization of $45.38 billion, a PE ratio of -24.01 and a beta of 1.39. The company has a debt-to-equity ratio of 0.40, a quick ratio of 11.38 and a current ratio of 11.38. The company’s fifty day moving average price is $186.87 and its 200 day moving average price is $144.05. Revolution Medicines, Inc. has a 1 year low of $35.42 and a 1 year high of $220.34.

Revolution Medicines (NASDAQ:RVMD) last released its quarterly earnings data on Wednesday, August 5th. The company reported ($3.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($2.04) by ($1.02). During the same quarter in the prior year, the firm earned ($1.31) EPS. On average, research analysts predict that Revolution Medicines, Inc. will post -8.82 earnings per share for the current year.

Insider Buying and Selling at Revolution Medicines

In related news, insider Stephen Michael Kelsey sold 4,175 shares of Revolution Medicines stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $156.12, for a total value of $651,801.00. Following the sale, the insider owned 291,876 shares of the company’s stock, valued at approximately $45,567,681.12. This trade represents a 1.41% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Sushil Patel sold 5,580 shares of the business’s stock in a transaction on Monday, June 29th. The stock was sold at an average price of $187.99, for a total transaction of $1,048,984.20. Following the completion of the sale, the director directly owned 21,656 shares of the company’s stock, valued at approximately $4,071,111.44. The trade was a 20.49% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 132,497 shares of company stock worth $21,470,486. 7.60% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

RVMD has been the subject of a number of recent research reports. Guggenheim boosted their target price on shares of Revolution Medicines from $235.00 to $240.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Truist Financial raised their price target on shares of Revolution Medicines from $210.00 to $231.00 and gave the company a “buy” rating in a report on Tuesday, August 11th. Wolfe Research reaffirmed an “outperform” rating and issued a $220.00 price objective on shares of Revolution Medicines in a research report on Monday, August 10th. Needham & Company LLC boosted their price objective on shares of Revolution Medicines from $236.00 to $240.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Finally, Piper Sandler increased their target price on shares of Revolution Medicines to $172.00 and gave the company an “overweight” rating in a research report on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $166.33.

Revolution Medicines Company 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.