Revolution Medicines, Inc. (NASDAQ:RVMD) Shares Purchased by Handelsbanken Fonder AB

Handelsbanken Fonder AB raised its holdings in shares of Revolution Medicines, Inc. (NASDAQ:RVMD) by 27.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 46,775 shares of the company’s stock after buying an additional 10,100 shares during the period. Handelsbanken Fonder AB’s holdings in Revolution Medicines were worth $2,121,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of RVMD. BVF Inc. IL lifted its holdings in shares of Revolution Medicines by 50.2% during the 4th quarter. BVF Inc. IL now owns 5,981,212 shares of the company’s stock valued at $171,541,000 after acquiring an additional 2,000,000 shares in the last quarter. American International Group Inc. raised its position in Revolution Medicines by 41.3% in the fourth quarter. American International Group Inc. now owns 71,494 shares of the company’s stock valued at $2,050,000 after purchasing an additional 20,881 shares during the period. Goldman Sachs Group Inc. lifted its stake in shares of Revolution Medicines by 67.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,053,257 shares of the company’s stock worth $30,207,000 after purchasing an additional 425,812 shares in the last quarter. Wellington Management Group LLP grew its stake in shares of Revolution Medicines by 40.8% in the fourth quarter. Wellington Management Group LLP now owns 14,882,086 shares of the company’s stock valued at $426,818,000 after buying an additional 4,309,611 shares in the last quarter. Finally, Mubadala Investment Co PJSC acquired a new stake in shares of Revolution Medicines in the fourth quarter valued at about $7,973,000. 94.34% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Stephen Michael Kelsey sold 16,667 shares of Revolution Medicines stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $46.47, for a total value of $774,515.49. Following the completion of the transaction, the insider now directly owns 269,073 shares of the company’s stock, valued at approximately $12,503,822.31. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, insider Mark A. Goldsmith sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $45.88, for a total transaction of $458,800.00. Following the completion of the transaction, the insider now directly owns 311,885 shares of the company’s stock, valued at approximately $14,309,283.80. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Stephen Michael Kelsey sold 16,667 shares of the firm’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $46.47, for a total value of $774,515.49. Following the completion of the sale, the insider now directly owns 269,073 shares in the company, valued at approximately $12,503,822.31. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 61,667 shares of company stock valued at $2,808,865 over the last 90 days. 8.00% of the stock is owned by company insiders.

Revolution Medicines Stock Performance

NASDAQ:RVMD opened at $49.49 on Thursday. The company has a market capitalization of $8.27 billion, a price-to-earnings ratio of -13.20 and a beta of 1.43. Revolution Medicines, Inc. has a one year low of $15.44 and a one year high of $50.00. The stock has a 50-day simple moving average of $43.81 and a 200 day simple moving average of $40.39.

Revolution Medicines (NASDAQ:RVMD) last issued its earnings results on Wednesday, August 7th. The company reported ($0.81) EPS for the quarter, missing the consensus estimate of ($0.77) by ($0.04). The firm had revenue of $1.00 million during the quarter, compared to the consensus estimate of $0.81 million. The company’s quarterly revenue was down 73.8% on a year-over-year basis. During the same period last year, the firm posted ($0.92) EPS. On average, equities research analysts forecast that Revolution Medicines, Inc. will post -3.35 EPS for the current fiscal year.

Analyst Ratings Changes

RVMD has been the subject of a number of analyst reports. Jefferies Financial Group initiated coverage on Revolution Medicines in a report on Monday, July 8th. They issued a “buy” rating and a $63.00 price target for the company. Barclays raised their price target on shares of Revolution Medicines from $54.00 to $60.00 and gave the company an “overweight” rating in a report on Friday, September 27th. HC Wainwright reiterated a “buy” rating and issued a $56.00 price objective on shares of Revolution Medicines in a report on Monday, August 12th. Needham & Company LLC reissued a “buy” rating and issued a $61.00 price objective on shares of Revolution Medicines in a research report on Monday. Finally, JPMorgan Chase & Co. dropped their target price on Revolution Medicines from $55.00 to $54.00 and set an “overweight” rating on the stock in a research report on Thursday, August 8th. Ten equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $54.00.

Revolution Medicines Company Profile

Revolution Medicines, Inc, a clinical-stage precision oncology company, develops novel targeted therapies for RAS-addicted cancers. The company's research and development pipeline comprises RAS(ON) inhibitors designed to be used as monotherapy in combination with other RAS(ON) inhibitors and/or in combination with RAS companion inhibitors or other therapeutic agents, and RAS companion inhibitors for combination treatment strategies.