Handelsbanken Fonder AB Acquires 25,975 Shares of Revolution Medicines, Inc. (NASDAQ:RVMD)

Handelsbanken Fonder AB raised its stake in shares of Revolution Medicines, Inc. (NASDAQ:RVMD) by 182.9% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 40,175 shares of the company’s stock after purchasing an additional 25,975 shares during the period. Handelsbanken Fonder AB’s holdings in Revolution Medicines were worth $1,152,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Wellington Management Group LLP raised its position in shares of Revolution Medicines by 2.7% during the third quarter. Wellington Management Group LLP now owns 10,572,475 shares of the company’s stock worth $292,646,000 after acquiring an additional 282,786 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Revolution Medicines by 3.2% in the 3rd quarter. Vanguard Group Inc. now owns 9,643,591 shares of the company’s stock worth $266,935,000 after purchasing an additional 303,088 shares during the period. Walleye Capital LLC bought a new stake in shares of Revolution Medicines in the 3rd quarter valued at $2,644,000. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Revolution Medicines by 45.5% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 80,405 shares of the company’s stock worth $2,306,000 after buying an additional 25,160 shares during the period. Finally, Victory Capital Management Inc. raised its stake in Revolution Medicines by 392.5% during the third quarter. Victory Capital Management Inc. now owns 342,359 shares of the company’s stock worth $9,476,000 after buying an additional 272,848 shares during the last quarter. 94.34% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, General Counsel Jeff Cislini sold 1,252 shares of Revolution Medicines stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $31.58, for a total transaction of $39,538.16. Following the transaction, the general counsel now owns 55,874 shares of the company’s stock, valued at $1,764,500.92. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Revolution Medicines news, General Counsel Jeff Cislini sold 1,252 shares of the firm’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $31.58, for a total transaction of $39,538.16. Following the transaction, the general counsel now directly owns 55,874 shares in the company, valued at approximately $1,764,500.92. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Sushil Patel sold 2,155 shares of Revolution Medicines stock in a transaction on Wednesday, April 10th. The stock was sold at an average price of $37.00, for a total transaction of $79,735.00. Following the transaction, the director now directly owns 15,700 shares in the company, valued at $580,900. The disclosure for this sale can be found here. In the last ninety days, insiders sold 18,705 shares of company stock valued at $630,749. Corporate insiders own 8.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on RVMD shares. Oppenheimer upped their price target on shares of Revolution Medicines from $43.00 to $45.00 and gave the company an “outperform” rating in a research report on Friday, April 12th. Needham & Company LLC reaffirmed a “buy” rating and set a $46.00 target price (up previously from $36.00) on shares of Revolution Medicines in a research note on Monday, April 8th. Bank of America upgraded Revolution Medicines from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $31.00 to $34.00 in a report on Friday, January 5th. Piper Sandler started coverage on Revolution Medicines in a report on Monday, March 11th. They set an “overweight” rating and a $43.00 price target on the stock. Finally, Wedbush lifted their price objective on shares of Revolution Medicines from $41.00 to $42.00 and gave the company an “outperform” rating in a research note on Tuesday, February 27th. Nine analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $41.20.

Revolution Medicines Trading Up 1.8 %

Shares of RVMD opened at $35.96 on Monday. The business’s fifty day moving average is $32.33 and its 200 day moving average is $28.01. Revolution Medicines, Inc. has a 12-month low of $15.44 and a 12-month high of $38.73.

Revolution Medicines (NASDAQ:RVMD) last released its quarterly earnings data on Monday, February 26th. The company reported ($1.14) earnings per share for the quarter, missing the consensus estimate of ($0.85) by ($0.29). The business had revenue of $0.74 million for the quarter, compared to analysts’ expectations of $1.20 million. The company’s revenue was down 95.2% on a year-over-year basis. During the same quarter last year, the firm posted ($0.63) EPS. On average, equities research analysts expect that Revolution Medicines, Inc. will post -3.18 EPS for the current fiscal year.

About Revolution Medicines

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.