Revolution Medicines, Inc. $RVMD Shares Acquired by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Revolution Medicines, Inc. (NASDAQ:RVMD) by 82.3% during the second quarter, Holdings Channel reports. The firm owned 912,335 shares of the company’s stock after purchasing an additional 411,740 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Revolution Medicines were worth $170,862,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of RVMD. Royal London Asset Management Ltd. boosted its position in shares of Revolution Medicines by 21.2% in the 2nd quarter. Royal London Asset Management Ltd. now owns 3,808 shares of the company’s stock valued at $713,000 after purchasing an additional 666 shares during the period. Van ECK Associates Corp raised its holdings in Revolution Medicines by 1.8% during the 2nd quarter. Van ECK Associates Corp now owns 111,381 shares of the company’s stock worth $20,859,000 after buying an additional 2,016 shares during the period. Nissay Asset Management Corp Japan raised its holdings in Revolution Medicines by 14.9% during the 2nd quarter. Nissay Asset Management Corp Japan now owns 21,164 shares of the company’s stock worth $3,964,000 after buying an additional 2,744 shares during the period. Hsbc Holdings PLC lifted its stake in Revolution Medicines by 119.0% during the second quarter. Hsbc Holdings PLC now owns 71,816 shares of the company’s stock valued at $13,458,000 after buying an additional 39,025 shares in the last quarter. Finally, Beacon Pointe Advisors LLC purchased a new stake in Revolution Medicines during the second quarter valued at about $346,000. 94.34% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Royal Bank Of Canada lifted their target price on shares of Revolution Medicines from $203.00 to $251.00 and gave the stock an “outperform” rating in a research report on Thursday, August 27th. Needham & Company LLC boosted their target price on shares of Revolution Medicines from $240.00 to $275.00 and gave the company a “buy” rating in a research note on Monday. Sanford C. Bernstein increased their target price on Revolution Medicines from $151.00 to $179.00 and gave the company a “market perform” rating in a report on Friday, August 21st. HC Wainwright lifted their price target on Revolution Medicines from $195.00 to $280.00 and gave the company a “buy” rating in a report on Thursday, August 27th. Finally, Evercore reissued an “outperform” rating and set a $320.00 price target on shares of Revolution Medicines in a research report on Thursday, August 27th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $200.74.

Insider Buying and Selling

In other news, insider Mark A. Goldsmith sold 80,000 shares of the stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $209.20, for a total transaction of $16,736,000.00. Following the sale, the insider directly owned 267,330 shares of the company’s stock, valued at $55,925,436. This represents a 23.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Stephen Michael Kelsey sold 4,175 shares of the firm’s stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $156.12, for a total transaction of $651,801.00. Following the completion of the sale, the insider directly owned 291,876 shares of the company’s stock, valued at approximately $45,567,681.12. This represents a 1.41% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders sold 212,497 shares of company stock valued at $38,206,486. Insiders own 7.60% of the company’s stock.

Revolution Medicines Price Performance

Shares of RVMD stock opened at $209.87 on Wednesday. Revolution Medicines, Inc. has a 52 week low of $37.88 and a 52 week high of $224.31. The stock has a market capitalization of $44.98 billion, a PE ratio of -23.79 and a beta of 1.40. 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 stock’s fifty day moving average is $194.93 and its 200-day moving average is $150.51.

Revolution Medicines (NASDAQ:RVMD) last released its quarterly 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 last year, the company earned ($1.31) earnings per share. Equities research analysts expect that Revolution Medicines, Inc. will post -8.84 EPS for the current fiscal year.

Revolution Medicines Profile

Revolution Medicines is a clinical-stage biopharmaceutical company focused on discovering and developing small molecule therapies to treat RAS-dependent cancers and other diseases driven by the RAS/MAPK pathway. The company’s research efforts target historically “undruggable” proteins, aiming to inhibit critical nodes in cell signaling that promote tumor growth and therapeutic resistance.

The lead pipeline includes RMC-4630, a SHP2 inhibitor; RMC-6291, a selective KRAS G12C inhibitor; and RMC-6236, a pan-RAS inhibitor designed to address multiple RAS mutations.