3,946 Shares of Revolution Medicines, Inc. $RVMD Bought by Vontobel Holding Ltd.

Vontobel Holding Ltd. purchased a new position in shares of Revolution Medicines, Inc. (NASDAQ:RVMD) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 3,946 shares of the company’s stock, valued at approximately $810,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Equitable Holdings Inc. acquired a new stake in Revolution Medicines in the second quarter valued at about $963,000. State of Wyoming purchased a new stake in Revolution Medicines in the 2nd quarter valued at approximately $1,769,000. Handelsbanken Fonder AB increased its position in Revolution Medicines by 243.6% during the 2nd quarter. Handelsbanken Fonder AB now owns 212,275 shares of the company’s stock worth $39,755,000 after purchasing an additional 150,500 shares during the period. Bank of New York Mellon Corp acquired a new position in Revolution Medicines during the 2nd quarter worth approximately $112,566,000. Finally, Assenagon Asset Management S.A. acquired a new position in Revolution Medicines during the 2nd quarter worth approximately $37,547,000. 94.34% of the stock is currently owned by institutional investors and hedge funds.

Revolution Medicines Price Performance

Shares of RVMD opened at $196.55 on Wednesday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 11.38 and a current ratio of 11.38. The firm’s 50-day moving average is $202.54 and its two-hundred day moving average is $175.28. Revolution Medicines, Inc. has a twelve month low of $52.48 and a twelve month high of $224.31.

Revolution Medicines (NASDAQ:RVMD) last issued its earnings results on Wednesday, August 5th. The company reported ($3.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($2.04) by ($1.02). During the same quarter in the prior year, the firm earned ($1.31) EPS. As a group, sell-side analysts expect that Revolution Medicines, Inc. will post -8.93 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

RVMD has been the subject of several recent analyst reports. Brookline Capital Markets started coverage on Revolution Medicines in a report on Monday, September 28th. They issued a “buy” rating and a $318.00 price target for the company. TD Cowen reaffirmed a “buy” rating on shares of Revolution Medicines in a report on Thursday, October 8th. Guggenheim increased their price objective on Revolution Medicines from $240.00 to $275.00 and gave the stock a “buy” rating in a research report on Friday, August 28th. Needham & Company LLC reiterated a “buy” rating and issued a $275.00 price objective on shares of Revolution Medicines in a research report on Thursday, October 15th. Finally, Truist Financial raised their target price on Revolution Medicines from $240.00 to $241.00 and gave the company a “buy” rating in a report on Monday. One analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $242.60.

Insiders Place Their Bets

In related news, Director Elizabeth M. Anderson sold 10,143 shares of Revolution Medicines stock in a transaction on Tuesday, September 22nd. The stock was sold at an average price of $193.04, for a total transaction of $1,958,004.72. Following the completion of the transaction, the director directly owned 4,333 shares of the company’s stock, valued at approximately $836,442.32. The trade was a 70.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Mark A. Goldsmith sold 13,988 shares of Revolution Medicines stock in a transaction on Wednesday, September 16th. The stock was sold at an average price of $199.24, for a total value of $2,786,969.12. Following the transaction, the insider directly owned 253,342 shares of the company’s stock, valued at approximately $50,475,860.08. This represents a 5.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders have sold 290,991 shares of company stock worth $59,422,765. 7.60% of the stock is owned by insiders.

Revolution Medicines Profile

Revolution Medicines, Inc is a clinical-stage biopharmaceutical company focused on developing targeted therapies for patients with RAS-mutant cancers. The company’s research platform is designed to discover and develop medicines that inhibit RAS proteins, which play a central role in the growth and spread of many cancers and have historically been difficult to target.

Its investigational pipeline includes RAS(ON) inhibitors and other precision oncology candidates, including daraxonrasib (RMC-6236), a pan-RAS inhibitor being evaluated in multiple solid tumors, as well as programs directed at specific mutations such as KRAS G12C and KRAS G12D.