BI Asset Management Fondsmaeglerselskab A S Makes New $452,000 Investment in Revolution Medicines, Inc. $RVMD

BI Asset Management Fondsmaeglerselskab A S bought a new position in Revolution Medicines, Inc. (NASDAQ:RVMD) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 4,646 shares of the company’s stock, valued at approximately $452,000.

Other large investors have also recently modified their holdings of the company. Rockefeller Capital Management L.P. lifted its stake in shares of Revolution Medicines by 82.9% during the 4th quarter. Rockefeller Capital Management L.P. now owns 598 shares of the company’s stock valued at $48,000 after buying an additional 271 shares in the last quarter. Avoro Capital Advisors LLC purchased a new position in Revolution Medicines in the 4th quarter valued at approximately $172,840,000. Corient Private Wealth LLC purchased a new position in Revolution Medicines in the 4th quarter valued at approximately $215,000. Flax Pond Capital LLC bought a new stake in Revolution Medicines during the 4th quarter valued at $632,000. Finally, Seven Fleet Capital Management LP bought a new stake in Revolution Medicines during the 4th quarter valued at $5,241,000. Hedge funds and other institutional investors own 94.34% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on RVMD shares. Sanford C. Bernstein began coverage on Revolution Medicines in a research report on Thursday, May 21st. They set a “market perform” rating and a $151.00 target price on the stock. Stifel Nicolaus reiterated a “buy” rating on shares of Revolution Medicines in a research report on Monday, April 20th. Jefferies Financial Group began coverage on Revolution Medicines in a research note on Monday, March 16th. They set a “buy” rating on the stock. HC Wainwright increased their price objective on Revolution Medicines from $169.00 to $195.00 and gave the stock a “buy” rating in a report on Monday, June 1st. Finally, Royal Bank Of Canada raised their target price on Revolution Medicines from $165.00 to $182.00 and gave the stock an “outperform” rating in a research note on Tuesday, June 2nd. Three equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $123.72.

Revolution Medicines Stock Performance

Revolution Medicines stock opened at $178.17 on Friday. The firm’s 50 day simple moving average is $151.19 and its 200 day simple moving average is $116.22. 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 firm has a market capitalization of $37.88 billion, a PE ratio of -25.20 and a beta of 1.40. Revolution Medicines, Inc. has a 1-year low of $34.00 and a 1-year high of $184.39.

Revolution Medicines (NASDAQ:RVMD) last posted its earnings results on Wednesday, May 6th. The company reported ($2.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.83) by ($0.46). During the same period last year, the firm posted ($1.13) EPS. As a group, analysts expect that Revolution Medicines, Inc. will post -7.94 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Stephen Michael Kelsey sold 4,175 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 $651,801.00. Following the completion of the sale, the insider owned 291,876 shares of the company’s stock, valued at approximately $45,567,681.12. This trade represents a 1.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Mark A. Goldsmith sold 120,000 shares of the business’s stock in a transaction dated 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 transaction, the insider owned 276,698 shares of the company’s stock, valued at approximately $41,529,602.82. The trade was a 30.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 226,917 shares of company stock worth $35,065,702. Company 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.