BNP Paribas Financial Markets Raises Stock Holdings in Revolution Medicines, Inc. $RVMD

BNP Paribas Financial Markets lifted its holdings in Revolution Medicines, Inc. (NASDAQ:RVMD) by 45.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 619,387 shares of the company’s stock after buying an additional 194,706 shares during the quarter. BNP Paribas Financial Markets owned approximately 0.32% of Revolution Medicines worth $49,334,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of RVMD. Norges Bank purchased a new position in Revolution Medicines during the 4th quarter worth $195,568,000. Zweig DiMenna Associates LLC purchased a new position in Revolution Medicines during the 4th quarter worth $8,331,000. Eurizon Capital SGR S.p.A. purchased a new position in Revolution Medicines during the 4th quarter worth $179,000. SBI Okasan Asset Management Co.Ltd. purchased a new position in Revolution Medicines during the 4th quarter worth $797,000. Finally, Geode Capital Management LLC increased its holdings in Revolution Medicines by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 3,161,963 shares of the company’s stock worth $251,912,000 after purchasing an additional 16,323 shares during the period. 94.34% of the stock is currently owned by hedge funds and other institutional investors.

Revolution Medicines Stock Down 7.6%

Shares of NASDAQ RVMD opened at $151.31 on Wednesday. The company has a current ratio of 6.80, a quick ratio of 6.80 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $32.17 billion, a PE ratio of -21.40 and a beta of 1.40. The stock’s fifty day simple moving average is $130.74 and its two-hundred day simple moving average is $105.50. Revolution Medicines, Inc. has a 12-month low of $34.00 and a 12-month high of $166.50.

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

Wall Street Analyst Weigh In

Several research analysts have commented on the company. HC Wainwright raised their price objective on Revolution Medicines from $169.00 to $195.00 and gave the stock a “buy” rating in a report on Monday. Piper Sandler increased their target price on Revolution Medicines to $172.00 and gave the company an “overweight” rating in a research report on Thursday, May 7th. Stifel Nicolaus reaffirmed a “buy” rating on shares of Revolution Medicines in a research report on Monday, April 20th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Revolution Medicines in a research report on Tuesday, April 21st. Finally, Royal Bank Of Canada increased their target price on Revolution Medicines from $165.00 to $182.00 and gave the company an “outperform” rating in a research report on Tuesday. Three equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $123.72.

Insider Transactions at Revolution Medicines

In other news, insider Xiaolin Wang sold 2,010 shares of the firm’s stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $99.48, for a total value of $199,954.80. Following the completion of the sale, the insider owned 116,063 shares of the company’s stock, valued at $11,545,947.24. This trade represents a 1.70% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Mark A. Goldsmith sold 120,000 shares of the firm’s stock in a transaction on Wednesday, April 15th. The stock was sold at an average price of $150.09, for a total value of $18,010,800.00. Following the completion of the sale, the insider directly owned 276,698 shares of the company’s stock, valued at $41,529,602.82. The trade was a 30.25% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 148,592 shares of company stock worth $20,855,132. 7.60% of the stock is currently owned by corporate insiders.

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.