Raiffeisen Bank International AG Takes Position in Revolution Medicines, Inc. $RVMD

Raiffeisen Bank International AG acquired a new position in Revolution Medicines, Inc. (NASDAQ:RVMD) during the 3rd quarter, HoldingsChannel.com reports. The firm acquired 20,000 shares of the company’s stock, valued at approximately $921,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Norges Bank bought a new stake in Revolution Medicines during the second quarter valued at approximately $62,584,000. Nextech Invest Ltd. raised its position in shares of Revolution Medicines by 20.7% during the 4th quarter. Nextech Invest Ltd. now owns 7,601,087 shares of the company’s stock valued at $332,472,000 after buying an additional 1,304,347 shares in the last quarter. Vestal Point Capital LP bought a new stake in shares of Revolution Medicines during the 2nd quarter worth $44,148,000. HRT Financial LP lifted its holdings in shares of Revolution Medicines by 2,795.5% during the 2nd quarter. HRT Financial LP now owns 686,426 shares of the company’s stock worth $25,253,000 after acquiring an additional 662,719 shares during the last quarter. Finally, Qube Research & Technologies Ltd grew its position in Revolution Medicines by 329.2% in the second quarter. Qube Research & Technologies Ltd now owns 786,017 shares of the company’s stock worth $28,918,000 after acquiring an additional 602,877 shares in the last quarter. 94.34% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on RVMD shares. HC Wainwright raised their price target on Revolution Medicines from $72.00 to $73.00 and gave the company a “buy” rating in a research report on Thursday, November 6th. UBS Group upgraded Revolution Medicines to a “strong-buy” rating in a research report on Thursday, December 4th. JPMorgan Chase & Co. raised their price objective on Revolution Medicines from $71.00 to $82.00 and gave the company an “overweight” rating in a report on Thursday, November 6th. Royal Bank Of Canada initiated coverage on Revolution Medicines in a research note on Monday, November 3rd. They issued an “outperform” rating and a $77.00 target price for the company. Finally, Needham & Company LLC increased their price target on shares of Revolution Medicines from $66.00 to $72.00 and gave the company a “buy” rating in a research report on Thursday, November 6th. Four investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, Revolution Medicines presently has a consensus rating of “Buy” and a consensus price target of $78.94.

Revolution Medicines Trading Down 0.9%

NASDAQ RVMD opened at $101.83 on Monday. The firm has a market cap of $19.69 billion, a PE ratio of -19.70 and a beta of 1.00. Revolution Medicines, Inc. has a 1-year low of $29.17 and a 1-year high of $124.49. The stock has a 50-day moving average of $96.62 and a 200-day moving average of $68.45. The company has a current ratio of 8.05, a quick ratio of 8.05 and a debt-to-equity ratio of 0.16.

Insider Buying and Selling

In other Revolution Medicines news, insider Mark A. Goldsmith sold 60,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $75.08, for a total value of $4,504,800.00. Following the completion of the sale, the insider owned 247,863 shares in the company, valued at approximately $18,609,554.04. The trade was a 19.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Jack Anders sold 10,000 shares of the stock in a transaction that occurred on Wednesday, January 7th. The shares were sold at an average price of $98.00, for a total value of $980,000.00. Following the sale, the chief financial officer directly owned 108,065 shares of the company’s stock, valued at approximately $10,590,370. This trade represents a 8.47% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 173,792 shares of company stock valued at $15,239,440 over the last quarter. Company insiders own 8.20% of the company’s stock.

Revolution Medicines 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.