Swiss Life Asset Management Ltd Makes New $293,000 Investment in Revolution Medicines, Inc. $RVMD

Swiss Life Asset Management Ltd acquired a new stake in Revolution Medicines, Inc. (NASDAQ:RVMD) in the 3rd quarter, according to its most recent disclosure with the SEC. The fund acquired 6,280 shares of the company’s stock, valued at approximately $293,000.

A number of other institutional investors have also recently modified their holdings of RVMD. Farallon Capital Management LLC increased its position 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 purchasing an additional 300,000 shares during the period. Baker BROS. Advisors LP lifted its position in Revolution Medicines by 1.0% during the third quarter. Baker BROS. Advisors LP now owns 9,455,357 shares of the company’s stock worth $441,565,000 after purchasing an additional 90,385 shares during the period. Nextech Invest Ltd. grew its stake in Revolution Medicines by 20.7% during the fourth quarter. Nextech Invest Ltd. now owns 7,601,087 shares of the company’s stock worth $332,472,000 after buying an additional 1,304,347 shares in the last quarter. Paradigm Biocapital Advisors LP grew its stake in Revolution Medicines by 2.1% during the third quarter. Paradigm Biocapital Advisors LP now owns 6,223,291 shares of the company’s stock worth $290,628,000 after buying an additional 130,000 shares in the last quarter. Finally, Bellevue Group AG increased its holdings in Revolution Medicines by 21.7% in the 3rd quarter. Bellevue Group AG now owns 5,573,838 shares of the company’s stock valued at $260,298,000 after buying an additional 994,538 shares during the period. 94.34% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Truist Financial upgraded shares of Revolution Medicines to a “strong-buy” rating in a research report on Wednesday. Wedbush reissued an “outperform” rating on shares of Revolution Medicines in a research note on Friday, January 9th. Benchmark restated an “overweight” rating on shares of Revolution Medicines in a research report on Tuesday, February 17th. Weiss Ratings restated a “sell (d-)” rating on shares of Revolution Medicines in a research note on Thursday, January 22nd. Finally, Jefferies Financial Group assumed coverage on Revolution Medicines in a report on Monday, March 16th. They issued a “buy” rating on the stock. Five research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Buy” and an average price target of $78.94.

Revolution Medicines Price Performance

Revolution Medicines stock opened at $93.21 on Friday. The company has a current ratio of 7.14, a quick ratio of 7.14 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $18.47 billion, a PE ratio of -15.77 and a beta of 0.99. Revolution Medicines, Inc. has a 12 month low of $29.17 and a 12 month high of $124.49. The stock has a 50-day moving average price of $100.92 and a two-hundred day moving average price of $78.34.

Revolution Medicines (NASDAQ:RVMD) last released its quarterly earnings results on Wednesday, February 25th. The company reported ($1.86) earnings per share for the quarter, missing the consensus estimate of ($1.56) by ($0.30). During the same period in the prior year, the company posted ($1.12) earnings per share. Analysts expect that Revolution Medicines, Inc. will post -3.49 EPS for the current year.

Insider Buying and Selling at Revolution Medicines

In other news, CFO Jack Anders sold 2,753 shares of the firm’s stock in a transaction 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 approximately $12,485,933.76. This trade represents a 2.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Margaret A. Horn sold 4,583 shares of Revolution Medicines stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $99.48, for a total transaction of $455,916.84. Following the transaction, the chief operating officer owned 157,570 shares in the company, valued at approximately $15,675,063.60. This trade represents a 2.83% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 149,592 shares of company stock worth $15,010,732 over the last quarter. Insiders own 8.20% 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.