Revolution Medicines, Inc. (NASDAQ:RVMD) Shares Acquired by KBC Group NV

KBC Group NV lifted its stake in Revolution Medicines, Inc. (NASDAQ:RVMD) by 12.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,221 shares of the company’s stock after purchasing an additional 368 shares during the period. KBC Group NV’s holdings in Revolution Medicines were worth $146,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Sei Investments Co. purchased a new position in Revolution Medicines in the first quarter valued at about $528,000. Vanguard Group Inc. raised its holdings in Revolution Medicines by 0.8% during the first quarter. Vanguard Group Inc. now owns 14,757,112 shares of the company’s stock worth $475,622,000 after purchasing an additional 122,721 shares during the last quarter. CANADA LIFE ASSURANCE Co raised its holdings in Revolution Medicines by 74.8% during the first quarter. CANADA LIFE ASSURANCE Co now owns 15,646 shares of the company’s stock worth $504,000 after purchasing an additional 6,696 shares during the last quarter. Natixis purchased a new stake in Revolution Medicines during the first quarter worth $196,000. Finally, EntryPoint Capital LLC acquired a new stake in Revolution Medicines in the first quarter valued at $107,000. Institutional investors and hedge funds own 94.34% of the company’s stock.

Insider Buying and Selling

In related news, insider Stephen Michael Kelsey sold 16,666 shares of the stock in a transaction on Monday, October 14th. The stock was sold at an average price of $49.49, for a total value of $824,800.34. Following the transaction, the insider now directly owns 264,408 shares of the company’s stock, valued at approximately $13,085,551.92. This trade represents a 5.93 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Barbara Weber sold 5,200 shares of the business’s stock in a transaction dated Tuesday, October 8th. The shares were sold at an average price of $48.02, for a total value of $249,704.00. Following the sale, the director now directly owns 13,065 shares of the company’s stock, valued at approximately $627,381.30. This trade represents a 28.47 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 127,866 shares of company stock valued at $6,355,624. Insiders own 8.00% of the company’s stock.

Revolution Medicines Stock Down 0.5 %

RVMD stock opened at $56.78 on Friday. The stock has a market capitalization of $9.55 billion, a price-to-earnings ratio of -15.82 and a beta of 1.40. Revolution Medicines, Inc. has a 52-week low of $20.86 and a 52-week high of $62.40. The stock’s fifty day simple moving average is $50.28 and its 200-day simple moving average is $44.42.

Revolution Medicines (NASDAQ:RVMD) last issued its quarterly earnings results on Wednesday, November 6th. The company reported ($0.94) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.89) by ($0.05). During the same period in the previous year, the business earned ($0.99) earnings per share. As a group, analysts anticipate that Revolution Medicines, Inc. will post -3.51 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Guggenheim boosted their price objective on shares of Revolution Medicines from $72.00 to $82.00 and gave the stock a “buy” rating in a research report on Monday, October 28th. Needham & Company LLC lifted their target price on shares of Revolution Medicines from $61.00 to $68.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Piper Sandler increased their price target on shares of Revolution Medicines from $57.00 to $70.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. Barclays lifted their price objective on Revolution Medicines from $54.00 to $60.00 and gave the stock an “overweight” rating in a research report on Friday, September 27th. Finally, JPMorgan Chase & Co. increased their target price on Revolution Medicines from $54.00 to $63.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. Eleven investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Revolution Medicines presently has a consensus rating of “Buy” and an average price target of $61.00.

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.