Revolution Medicines, Inc. (NASDAQ:RVMD) Shares Purchased by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA grew its position in shares of Revolution Medicines, Inc. (NASDAQ:RVMD) by 4,399.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 712,596 shares of the company’s stock after acquiring an additional 696,759 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Revolution Medicines were worth $31,169,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. IFP Advisors Inc bought a new stake in Revolution Medicines in the 4th quarter valued at about $34,000. Quarry LP acquired a new position in shares of Revolution Medicines during the third quarter worth approximately $82,000. Farther Finance Advisors LLC grew its holdings in Revolution Medicines by 368.3% in the 4th quarter. Farther Finance Advisors LLC now owns 2,051 shares of the company’s stock worth $90,000 after buying an additional 1,613 shares in the last quarter. Daiwa Securities Group Inc. grew its holdings in Revolution Medicines by 521.8% in the 4th quarter. Daiwa Securities Group Inc. now owns 3,787 shares of the company’s stock worth $165,000 after buying an additional 3,178 shares in the last quarter. Finally, Avanza Fonder AB acquired a new stake in Revolution Medicines in the 4th quarter valued at approximately $173,000. Institutional investors own 94.34% of the company’s stock.

Insider Buying and Selling

In related news, insider Mark A. Goldsmith sold 11,738 shares of the firm’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $39.04, for a total value of $458,251.52. Following the completion of the transaction, the insider now owns 441,564 shares of the company’s stock, valued at approximately $17,238,658.56. This trade represents a 2.59 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Jack Anders sold 1,864 shares of the business’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $39.04, for a total transaction of $72,770.56. Following the sale, the chief financial officer now directly owns 115,006 shares in the company, valued at approximately $4,489,834.24. This trade represents a 1.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 16,660 shares of company stock valued at $650,406. 8.00% of the stock is owned by corporate insiders.

Revolution Medicines Stock Performance

Revolution Medicines stock opened at $37.35 on Monday. The firm has a market cap of $6.94 billion, a price-to-earnings ratio of -10.40 and a beta of 1.46. Revolution Medicines, Inc. has a 1 year low of $29.55 and a 1 year high of $62.40. The firm’s 50 day moving average price is $40.32 and its two-hundred day moving average price is $45.61.

Revolution Medicines (NASDAQ:RVMD) last issued its earnings results on Wednesday, February 26th. The company reported ($1.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.01) by ($0.11). As a group, equities analysts predict that Revolution Medicines, Inc. will post -3.49 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on RVMD shares. HC Wainwright boosted their price target on Revolution Medicines from $72.00 to $73.00 and gave the stock a “buy” rating in a research report on Monday, March 3rd. Guggenheim upped their price objective on shares of Revolution Medicines from $82.00 to $87.00 and gave the stock a “buy” rating in a report on Tuesday, December 3rd. JPMorgan Chase & Co. raised their target price on shares of Revolution Medicines from $63.00 to $71.00 and gave the company an “overweight” rating in a research note on Tuesday, December 3rd. Needham & Company LLC reduced their price target on shares of Revolution Medicines from $60.00 to $59.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. Finally, Wedbush reiterated an “outperform” rating and issued a $67.00 price objective on shares of Revolution Medicines in a report on Thursday, February 27th. Twelve investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Revolution Medicines has an average rating of “Buy” and an average price target of $66.31.

Revolution Medicines 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.