Avanza Fonder AB Acquires 811 Shares of Revolution Medicines, Inc. $RVMD

Avanza Fonder AB raised its holdings in Revolution Medicines, Inc. (NASDAQ:RVMD) by 28.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,688 shares of the company’s stock after purchasing an additional 811 shares during the quarter. Avanza Fonder AB’s holdings in Revolution Medicines were worth $136,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of RVMD. Banque Transatlantique SA bought a new position in Revolution Medicines in the 1st quarter valued at $42,000. Quarry LP bought a new position in shares of Revolution Medicines during the 1st quarter worth $50,000. Twin Tree Management LP bought a new position in shares of Revolution Medicines during the 1st quarter worth $58,000. Goodman Advisory Group LLC bought a new position in shares of Revolution Medicines during the 1st quarter worth $127,000. Finally, GF Fund Management CO. LTD. grew its stake in shares of Revolution Medicines by 21.9% during the 1st quarter. GF Fund Management CO. LTD. now owns 4,307 shares of the company’s stock worth $152,000 after acquiring an additional 775 shares during the period. Institutional investors own 94.34% of the company’s stock.

Revolution Medicines Price Performance

Shares of Revolution Medicines stock opened at $44.41 on Tuesday. The company has a current ratio of 11.79, a quick ratio of 11.79 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $8.30 billion, a PE ratio of -9.87 and a beta of 1.12. The business’s 50-day moving average price is $38.77 and its 200-day moving average price is $38.39. Revolution Medicines, Inc. has a 12 month low of $29.17 and a 12 month high of $62.40.

Revolution Medicines (NASDAQ:RVMD) last announced its quarterly earnings data on Wednesday, August 6th. The company reported ($1.31) EPS for the quarter, missing the consensus estimate of ($0.94) by ($0.37). Revolution Medicines’s revenue for the quarter was up .0% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.81) earnings per share. Sell-side analysts forecast that Revolution Medicines, Inc. will post -3.49 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

RVMD has been the subject of several research reports. Needham & Company LLC increased their price target on Revolution Medicines from $56.00 to $66.00 and gave the stock a “buy” rating in a research note on Thursday, September 11th. Piper Sandler initiated coverage on Revolution Medicines in a research note on Monday, August 18th. They set an “overweight” rating and a $75.00 price target for the company. Truist Financial initiated coverage on Revolution Medicines in a research note on Friday, September 5th. They set a “buy” rating and a $99.00 price target for the company. The Goldman Sachs Group increased their price target on Revolution Medicines from $65.00 to $73.00 and gave the stock a “buy” rating in a research note on Friday, September 12th. Finally, Wedbush increased their price target on Revolution Medicines from $73.00 to $77.00 and gave the stock an “outperform” rating in a research note on Thursday, September 11th. One equities research analyst has rated the stock with a Strong Buy rating and fourteen have assigned a Buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $73.67.

Insider Activity

In other news, insider Lin Wei sold 2,160 shares of the stock in a transaction dated Tuesday, September 16th. The stock was sold at an average price of $45.82, for a total transaction of $98,971.20. Following the transaction, the insider directly owned 88,339 shares in the company, valued at approximately $4,047,692.98. This represents a 2.39% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Mark A. Goldsmith sold 13,411 shares of Revolution Medicines stock in a transaction that occurred on Tuesday, September 16th. The stock was sold at an average price of $45.82, for a total value of $614,492.02. Following the completion of the transaction, the insider directly owned 452,309 shares in the company, valued at $20,724,798.38. This trade represents a 2.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 163,033 shares of company stock worth $7,242,708. 8.20% of the stock is currently owned by insiders.

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.