Vontobel Holding Ltd. Invests $246,000 in Revolution Medicines, Inc. (NASDAQ:RVMD)

Vontobel Holding Ltd. bought a new stake in Revolution Medicines, Inc. (NASDAQ:RVMD) during the third quarter, HoldingsChannel.com reports. The fund bought 5,432 shares of the company’s stock, valued at approximately $246,000.

Several other hedge funds have also recently added to or reduced their stakes in RVMD. Creative Planning boosted its stake in shares of Revolution Medicines by 40.1% in the 3rd quarter. Creative Planning now owns 37,868 shares of the company’s stock valued at $1,717,000 after purchasing an additional 10,839 shares in the last quarter. GAMMA Investing LLC lifted its holdings in Revolution Medicines by 55.8% during the 3rd quarter. GAMMA Investing LLC now owns 620 shares of the company’s stock valued at $28,000 after purchasing an additional 222 shares during the last quarter. Handelsbanken Fonder AB boosted its position in Revolution Medicines by 27.5% in the third quarter. Handelsbanken Fonder AB now owns 46,775 shares of the company’s stock valued at $2,121,000 after buying an additional 10,100 shares in the last quarter. Halpern Financial Inc. bought a new stake in Revolution Medicines during the third quarter worth about $259,000. Finally, SG Americas Securities LLC increased its holdings in shares of Revolution Medicines by 193.1% during the third quarter. SG Americas Securities LLC now owns 31,454 shares of the company’s stock worth $1,426,000 after buying an additional 20,724 shares in the last quarter. Institutional investors and hedge funds own 94.34% of the company’s stock.

Analysts Set New Price Targets

RVMD has been the topic of several recent analyst reports. HC Wainwright reissued a “buy” rating and issued a $56.00 target price on shares of Revolution Medicines in a report on Monday, August 12th. Wedbush reissued an “outperform” rating and issued a $59.00 price objective on shares of Revolution Medicines in a research note on Thursday, August 8th. JPMorgan Chase & Co. lowered their target price on Revolution Medicines from $55.00 to $54.00 and set an “overweight” rating for the company in a research note on Thursday, August 8th. Bank of America upped their price target on shares of Revolution Medicines from $48.00 to $55.00 and gave the stock a “buy” rating in a research report on Tuesday, July 16th. Finally, Oppenheimer increased their price objective on shares of Revolution Medicines from $45.00 to $55.00 and gave the stock an “outperform” rating in a report on Tuesday, July 16th. Ten investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Revolution Medicines has a consensus rating of “Buy” and an average target price of $54.00.

Revolution Medicines Trading Up 2.9 %

Shares of NASDAQ RVMD opened at $48.51 on Thursday. Revolution Medicines, Inc. has a 1 year low of $18.00 and a 1 year high of $51.00. The firm’s 50-day moving average is $45.12 and its 200-day moving average is $41.71. The firm has a market capitalization of $8.10 billion, a PE ratio of -13.33 and a beta of 1.43.

Revolution Medicines (NASDAQ:RVMD) last released its earnings results on Wednesday, August 7th. The company reported ($0.81) EPS for the quarter, missing analysts’ consensus estimates of ($0.77) by ($0.04). The business had revenue of $1.00 million for the quarter, compared to analysts’ expectations of $0.81 million. The business’s revenue for the quarter was down 73.8% on a year-over-year basis. During the same period in the previous year, the company earned ($0.92) earnings per share. As a group, equities research analysts anticipate that Revolution Medicines, Inc. will post -3.35 earnings per share for the current fiscal year.

Insider Activity at Revolution Medicines

In related news, COO Margaret A. Horn sold 50,000 shares of Revolution Medicines stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $50.34, for a total transaction of $2,517,000.00. Following the transaction, the chief operating officer now owns 132,320 shares of the company’s stock, valued at $6,660,988.80. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Revolution Medicines news, COO Margaret A. Horn sold 50,000 shares of the company’s stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $50.34, for a total value of $2,517,000.00. Following the completion of the sale, the chief operating officer now owns 132,320 shares of the company’s stock, valued at approximately $6,660,988.80. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Mark A. Goldsmith sold 30,000 shares of Revolution Medicines stock in a transaction on Friday, October 11th. The stock was sold at an average price of $50.36, for a total transaction of $1,510,800.00. Following the transaction, the insider now directly owns 300,170 shares in the company, valued at approximately $15,116,561.20. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 137,866 shares of company stock worth $6,814,424. 8.00% of the stock is owned by insiders.

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.