Handelsbanken Fonder AB Sells 4,200 Shares of Revolution Medicines, Inc. $RVMD

Handelsbanken Fonder AB cut its stake in Revolution Medicines, Inc. (NASDAQ:RVMD) by 7.2% in the fourth quarter, HoldingsChannel reports. The fund owned 54,175 shares of the company’s stock after selling 4,200 shares during the period. Handelsbanken Fonder AB’s holdings in Revolution Medicines were worth $4,315,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in shares of Revolution Medicines by 6.7% in the fourth quarter. Vanguard Group Inc. now owns 16,719,886 shares of the company’s stock worth $1,331,739,000 after acquiring an additional 1,056,792 shares during the last quarter. Farallon Capital Management LLC raised its stake in shares of Revolution Medicines by 2.1% in the third quarter. Farallon Capital Management LLC now owns 14,625,692 shares of the company’s stock worth $683,020,000 after acquiring an additional 300,000 shares during the last quarter. Baker BROS. Advisors LP raised its stake in shares of Revolution Medicines by 1.0% in the third quarter. Baker BROS. Advisors LP now owns 9,455,357 shares of the company’s stock worth $441,565,000 after acquiring an additional 90,385 shares during the last quarter. Nextech Invest Ltd. raised its stake in shares of Revolution Medicines by 20.7% in the fourth quarter. Nextech Invest Ltd. now owns 7,601,087 shares of the company’s stock worth $332,472,000 after acquiring an additional 1,304,347 shares during the last quarter. Finally, Paradigm Biocapital Advisors LP raised its stake in shares of Revolution Medicines by 2.1% in the third quarter. Paradigm Biocapital Advisors LP now owns 6,223,291 shares of the company’s stock worth $290,628,000 after acquiring an additional 130,000 shares during the last quarter. 94.34% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

RVMD has been the subject of a number of research analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Revolution Medicines in a research note on Tuesday, April 21st. Truist Financial initiated coverage on shares of Revolution Medicines in a research report on Monday. They set a “buy” rating and a $179.00 price target for the company. Guggenheim lifted their price target on shares of Revolution Medicines to $205.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Sanford C. Bernstein initiated coverage on shares of Revolution Medicines in a research report on Thursday. They set a “market perform” rating and a $151.00 price target for the company. Finally, Royal Bank Of Canada lifted their price target on shares of Revolution Medicines to $165.00 and gave the stock an “outperform” rating in a research report on Thursday, May 7th. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $111.35.

Insider Buying and Selling

In other news, insider Mark A. Goldsmith sold 120,000 shares of the company’s stock in a transaction that occurred on Wednesday, April 15th. The shares were sold at an average price of $150.09, for a total value of $18,010,800.00. Following the completion of the transaction, the insider owned 276,698 shares in the company, valued at $41,529,602.82. This represents a 30.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Jack Anders sold 2,753 shares of the company’s stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $99.48, for a total transaction of $273,868.44. Following the completion of the transaction, the chief financial officer owned 125,512 shares of the company’s stock, valued at $12,485,933.76. This trade represents a 2.15% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 184,592 shares of company stock valued at $24,499,532. 8.20% of the stock is owned by corporate insiders.

Revolution Medicines Stock Down 1.4%

Shares of NASDAQ RVMD opened at $151.56 on Friday. The stock has a market cap of $32.22 billion, a P/E ratio of -21.44 and a beta of 1.41. The firm has a 50 day moving average price of $123.75 and a 200 day moving average price of $101.21. The company has a debt-to-equity ratio of 0.19, a quick ratio of 6.80 and a current ratio of 6.80. Revolution Medicines, Inc. has a 52-week low of $34.00 and a 52-week high of $156.25.

Revolution Medicines (NASDAQ:RVMD) last issued its quarterly earnings data on Wednesday, May 6th. The company reported ($2.29) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.83) by ($0.46). During the same quarter in the previous year, the business posted ($1.13) EPS. Analysts expect that Revolution Medicines, Inc. will post -7.75 EPS for the current year.

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.