HealthInvest Partners AB Acquires Shares of 62,161 Revolution Medicines, Inc. (NASDAQ:RVMD)

HealthInvest Partners AB bought a new stake in shares of Revolution Medicines, Inc. (NASDAQ:RVMD) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 62,161 shares of the company’s stock, valued at approximately $2,683,000. Revolution Medicines makes up 1.2% of HealthInvest Partners AB’s holdings, making the stock its 24th largest position.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. New York State Common Retirement Fund increased its position in Revolution Medicines by 12.9% during the 4th quarter. New York State Common Retirement Fund now owns 63,601 shares of the company’s stock valued at $2,782,000 after buying an additional 7,244 shares in the last quarter. CIBC Asset Management Inc grew its stake in shares of Revolution Medicines by 5.7% in the fourth quarter. CIBC Asset Management Inc now owns 5,037 shares of the company’s stock worth $220,000 after acquiring an additional 270 shares during the last quarter. State of New Jersey Common Pension Fund D increased its holdings in shares of Revolution Medicines by 3.4% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 49,807 shares of the company’s stock valued at $2,179,000 after acquiring an additional 1,623 shares in the last quarter. Rhumbline Advisers raised its position in shares of Revolution Medicines by 10.8% in the 4th quarter. Rhumbline Advisers now owns 251,465 shares of the company’s stock worth $10,999,000 after purchasing an additional 24,473 shares during the last quarter. Finally, Legato Capital Management LLC boosted its stake in Revolution Medicines by 42.0% in the 4th quarter. Legato Capital Management LLC now owns 10,713 shares of the company’s stock worth $469,000 after purchasing an additional 3,167 shares in the last quarter. 94.34% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Piper Sandler raised their price objective on shares of Revolution Medicines from $57.00 to $70.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. Wedbush reissued an “outperform” rating and set a $70.00 price target on shares of Revolution Medicines in a research report on Monday, December 2nd. Oppenheimer upped their price objective on Revolution Medicines from $55.00 to $60.00 and gave the company an “outperform” rating in a research report on Monday, October 28th. Guggenheim increased their target price on Revolution Medicines from $82.00 to $87.00 and gave the company a “buy” rating in a research note on Tuesday, December 3rd. Finally, UBS Group boosted their price target on Revolution Medicines from $65.00 to $71.00 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. Eleven equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $66.25.

Insiders Place Their Bets

In other Revolution Medicines news, COO Margaret A. Horn sold 4,329 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $45.40, for a total value of $196,536.60. Following the completion of the sale, the chief operating officer now owns 127,991 shares in the company, valued at approximately $5,810,791.40. This represents a 3.27 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Thilo Schroeder acquired 1,304,347 shares of the stock in a transaction dated Thursday, December 5th. The stock was acquired at an average price of $46.00 per share, for a total transaction of $59,999,962.00. Following the completion of the transaction, the director now directly owns 2,096,612 shares of the company’s stock, valued at approximately $96,444,152. This represents a 164.64 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold a total of 18,678 shares of company stock worth $847,981 over the last three months. 8.00% of the stock is currently owned by company insiders.

Revolution Medicines Trading Down 2.2 %

Shares of NASDAQ:RVMD opened at $41.34 on Monday. The stock has a 50 day moving average of $42.49 and a 200 day moving average of $46.29. The company has a market cap of $6.95 billion, a PE ratio of -11.52 and a beta of 1.45. Revolution Medicines, Inc. has a 12-month low of $28.65 and a 12-month high of $62.40.

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.