Fjarde AP Fonden Fourth Swedish National Pension Fund Takes Position in Revolution Medicines, Inc. $RVMD

Fjarde AP Fonden Fourth Swedish National Pension Fund acquired a new position in shares of Revolution Medicines, Inc. (NASDAQ:RVMD) in the 1st quarter, HoldingsChannel reports. The institutional investor acquired 46,900 shares of the company’s stock, valued at approximately $4,561,000.

A number of other hedge funds have also modified their holdings of the stock. Indiana Trust & Investment Management Co acquired a new position in shares of Revolution Medicines in the 4th quarter valued at $32,000. Global Retirement Partners LLC increased its position in shares of Revolution Medicines by 1,002.8% in the fourth quarter. Global Retirement Partners LLC now owns 397 shares of the company’s stock worth $32,000 after acquiring an additional 361 shares in the last quarter. Torren Management LLC acquired a new stake in shares of Revolution Medicines during the fourth quarter valued at approximately $33,000. Arax Advisory Partners acquired a new stake in shares of Revolution Medicines during the fourth quarter valued at approximately $38,000. Finally, Darwin Wealth Management LLC purchased a new stake in shares of Revolution Medicines in the 4th quarter valued at approximately $40,000. 94.34% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently commented on RVMD. Truist Financial raised their price objective on shares of Revolution Medicines from $179.00 to $210.00 and gave the stock a “buy” rating in a research note on Tuesday, June 30th. Needham & Company LLC increased their target price on Revolution Medicines from $183.00 to $235.00 and gave the company a “buy” rating in a report on Monday, June 29th. Evercore reaffirmed an “outperform” rating on shares of Revolution Medicines in a research report on Tuesday, April 14th. Wedbush lifted their price target on Revolution Medicines from $165.00 to $181.00 and gave the company an “outperform” rating in a report on Thursday, July 2nd. Finally, Oppenheimer increased their price objective on Revolution Medicines from $165.00 to $195.00 and gave the stock an “outperform” rating in a research note on Monday, June 1st. Two research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $142.33.

Insider Transactions at Revolution Medicines

In other news, Director Sushil Patel sold 5,580 shares of Revolution Medicines stock in a transaction dated Monday, June 29th. The stock was 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 directly owned 21,656 shares in the company, valued at $4,071,111.44. The trade was a 20.49% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Jack Anders sold 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 24th. The shares were sold at an average price of $168.33, for a total value of $3,366,600.00. Following the completion of the sale, the chief financial officer directly owned 123,269 shares of the company’s stock, valued at approximately $20,749,870.77. The trade was a 13.96% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 252,497 shares of company stock valued at $39,481,286. Corporate insiders own 7.60% of the company’s stock.

Revolution Medicines Trading Up 0.4%

RVMD stock opened at $189.99 on Tuesday. The company has a 50 day moving average of $156.00 and a two-hundred day moving average of $120.84. Revolution Medicines, Inc. has a 12-month low of $34.00 and a 12-month high of $193.69. The company has a current ratio of 6.80, a quick ratio of 6.80 and a debt-to-equity ratio of 0.19.

Revolution Medicines (NASDAQ:RVMD) last posted its quarterly earnings results 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 last year, the business earned ($1.13) EPS. As a group, research analysts predict that Revolution Medicines, Inc. will post -7.94 EPS for the current year.

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.