PensionDanmark Pensionsforsikringsaktieselskab Makes New Investment in Revolution Medicines, Inc. $RVMD

PensionDanmark Pensionsforsikringsaktieselskab purchased a new position in shares of Revolution Medicines, Inc. (NASDAQ:RVMD) during the 2nd quarter, HoldingsChannel.com reports. The fund purchased 4,000 shares of the company’s stock, valued at approximately $749,000.

Several other institutional investors and hedge funds have also recently modified their holdings of RVMD. Nextech Invest Ltd. boosted its holdings in Revolution Medicines by 20.7% in the 4th quarter. Nextech Invest Ltd. now owns 7,601,087 shares of the company’s stock valued at $332,472,000 after purchasing an additional 1,304,347 shares during the last quarter. Millennium Management LLC grew its stake in shares of Revolution Medicines by 681.8% in the first quarter. Millennium Management LLC now owns 156,353 shares of the company’s stock valued at $5,529,000 after buying an additional 136,353 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Revolution Medicines by 14.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 300,196 shares of the company’s stock worth $10,615,000 after purchasing an additional 37,345 shares during the period. Invesco Ltd. increased its stake in Revolution Medicines by 19.3% during the 2nd quarter. Invesco Ltd. now owns 227,019 shares of the company’s stock worth $8,352,000 after buying an additional 36,760 shares during the period. Finally, Jump Financial LLC increased its position in shares of Revolution Medicines by 87.9% during the second quarter. Jump Financial LLC now owns 15,258 shares of the company’s stock worth $561,000 after acquiring an additional 7,137 shares during the period. Institutional investors and hedge funds own 94.34% of the company’s stock.

Revolution Medicines Stock Performance

NASDAQ:RVMD opened at $206.97 on Tuesday. Revolution Medicines, Inc. has a fifty-two week low of $34.14 and a fifty-two week high of $208.76. The company has a quick ratio of 11.38, a current ratio of 11.38 and a debt-to-equity ratio of 0.40. The stock has a market cap of $44.36 billion, a PE ratio of -23.47 and a beta of 1.39. The firm’s fifty day simple moving average is $177.53 and its 200-day simple moving average is $138.22.

Revolution Medicines (NASDAQ:RVMD) last posted its quarterly earnings results on Wednesday, August 5th. The company reported ($3.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($2.04) by ($1.02). During the same quarter in the prior year, the business posted ($1.31) EPS. Analysts expect that Revolution Medicines, Inc. will post -8.19 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Wedbush raised their target price on shares of Revolution Medicines from $192.10 to $201.00 and gave the company an “outperform” rating in a report on Thursday. HC Wainwright reissued a “buy” rating and issued a $195.00 price target on shares of Revolution Medicines in a research report on Monday, July 6th. Royal Bank Of Canada raised their price objective on Revolution Medicines from $182.00 to $203.00 and gave the stock an “outperform” rating in a report on Thursday. Stifel Nicolaus reissued a “buy” rating on shares of Revolution Medicines in a report on Monday, April 20th. Finally, Oppenheimer reissued an “outperform” rating and issued a $230.00 target price on shares of Revolution Medicines in a research report on Thursday. One research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Revolution Medicines presently has an average rating of “Moderate Buy” and a consensus price target of $160.68.

Insider Activity

In related news, insider Mark A. Goldsmith sold 10,020 shares of Revolution Medicines stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $156.12, for a total transaction of $1,564,322.40. Following the completion of the transaction, the insider directly owned 267,330 shares of the company’s stock, valued at approximately $41,735,559.60. The trade was a 3.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Stephen Michael Kelsey sold 4,175 shares of the business’s stock in a transaction on Tuesday, June 16th. The stock was 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 in the company, valued at approximately $45,567,681.12. The trade was a 1.41% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 132,497 shares of company stock valued at $21,470,486 in the last 90 days. Insiders own 7.60% of the company’s stock.

About Revolution Medicines

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.