Nykredit A S Purchases New Shares in Revolution Medicines, Inc. $RVMD

Nykredit A S purchased a new position in shares of Revolution Medicines, Inc. (NASDAQ:RVMD) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 52,663 shares of the company’s stock, valued at approximately $9,863,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of RVMD. Equitable Holdings Inc. bought a new stake in shares of Revolution Medicines in the second quarter valued at about $963,000. State of Wyoming purchased a new position in shares of Revolution Medicines in the second quarter worth about $1,769,000. Handelsbanken Fonder AB lifted its position in Revolution Medicines by 243.6% during the second quarter. Handelsbanken Fonder AB now owns 212,275 shares of the company’s stock valued at $39,755,000 after purchasing an additional 150,500 shares during the period. Eagle Health Investments LP acquired a new position in Revolution Medicines in the fourth quarter valued at approximately $9,231,000. Finally, Bank of New York Mellon Corp purchased a new position in Revolution Medicines in the second quarter valued at $112,566,000. Hedge funds and other institutional investors own 94.34% of the company’s stock.

Insider Transactions at Revolution Medicines

In related news, Director Sushil Patel sold 5,580 shares of the stock in a transaction on Monday, June 29th. The shares were 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 owned 21,656 shares in the company, valued at $4,071,111.44. This represents a 20.49% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Jack Anders sold 20,000 shares of the stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of $168.33, for a total transaction of $3,366,600.00. Following the sale, the chief financial officer owned 123,269 shares of the company’s stock, valued at $20,749,870.77. This trade represents a 13.96% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 268,497 shares of company stock worth $49,587,926 over the last 90 days. Company insiders own 7.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on RVMD. Oppenheimer lifted their price target on shares of Revolution Medicines from $230.00 to $260.00 and gave the company an “outperform” rating in a research note on Thursday, August 27th. Raymond James Financial reissued a “strong-buy” rating and set a $248.00 price objective on shares of Revolution Medicines in a research note on Thursday, August 27th. UBS Group raised their price target on shares of Revolution Medicines from $220.00 to $265.00 and gave the stock a “buy” rating in a report on Friday, August 28th. Wolfe Research restated an “outperform” rating and issued a $220.00 price objective on shares of Revolution Medicines in a report on Monday, August 10th. Finally, Evercore restated an “outperform” rating and set a $320.00 price target on shares of Revolution Medicines in a research note on Thursday, August 27th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $200.74.

Revolution Medicines Stock Down 0.4%

Revolution Medicines stock opened at $210.02 on Friday. The stock’s fifty day moving average is $196.93 and its two-hundred day moving average is $152.51. The stock has a market cap of $45.02 billion, a PE ratio of -23.81 and a beta of 1.40. Revolution Medicines, Inc. has a 1-year low of $39.17 and a 1-year high of $224.31. The company has a debt-to-equity ratio of 0.40, a current ratio of 11.38 and a quick ratio of 11.38.

Revolution Medicines (NASDAQ:RVMD) last announced its quarterly earnings results on Wednesday, August 5th. The company reported ($3.06) EPS for the quarter, missing the consensus estimate of ($2.04) by ($1.02). During the same quarter in the prior year, the firm posted ($1.31) EPS. On average, sell-side analysts expect that Revolution Medicines, Inc. will post -8.83 EPS for the current fiscal 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.