9,031 Shares in Revolution Medicines, Inc. $RVMD Acquired by Fideuram Intesa Sanpaolo Private Banking S.P.A.

Key Points

• Fideuram Intesa Sanpaolo Private Banking S.P.A. opened a new position in Revolution Medicines, buying 9,031 shares valued at about $878,000 in the first quarter.
• Institutional ownership remains heavy, with 94.34% of the company held by institutions. Several funds increased their stakes recently, including Nextech Invest, Millennium Management, and UBS AM.
• Analysts remain mostly bullish on RVMD: the stock has a consensus rating of “Buy” and an average price target of $135.39, though insider selling has been notable, including recent sales by the CFO and a director.

Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new stake in Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 9,031 shares of the company's stock, valued at approximately $878,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Nextech Invest Ltd. boosted its position in Revolution Medicines by 20.7% during the 4th quarter. Nextech Invest Ltd. now owns 7,601,087 shares of the company's stock worth $332,472,000 after acquiring an additional 1,304,347 shares during the period. Millennium Management LLC increased its holdings in shares of Revolution Medicines by 681.8% during the first quarter. Millennium Management LLC now owns 156,353 shares of the company's stock valued at $5,529,000 after purchasing an additional 136,353 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Revolution Medicines by 14.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 300,196 shares of the company's stock valued at $10,615,000 after purchasing an additional 37,345 shares during the period. Invesco Ltd. raised its stake in shares of Revolution Medicines by 19.3% during the second quarter. Invesco Ltd. now owns 227,019 shares of the company's stock valued at $8,352,000 after purchasing an additional 36,760 shares in the last quarter. Finally, Jump Financial LLC raised its stake in shares of Revolution Medicines by 87.9% during the second quarter. Jump Financial LLC now owns 15,258 shares of the company's stock valued at $561,000 after purchasing an additional 7,137 shares in the last quarter. Institutional investors own 94.34% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Jefferies Financial Group started coverage on shares of Revolution Medicines in a report on Monday, March 16th. They issued a "buy" rating for the company. Piper Sandler raised their target price on shares of Revolution Medicines to $172.00 and gave the company an "overweight" rating in a research note on Thursday, May 7th. Weiss Ratings restated a "sell (d-)" rating on shares of Revolution Medicines in a research report on Tuesday, April 21st. Oppenheimer upped their price target on shares of Revolution Medicines from $165.00 to $195.00 and gave the stock an "outperform" rating in a research note on Monday, June 1st. Finally, Wedbush increased their price objective on shares of Revolution Medicines from $165.00 to $181.00 and gave the company an "outperform" rating in a report on Thursday. Three research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has an average rating of "Buy" and a consensus price target of $135.39.

Insider Buying and Selling

In other news, Director Sushil Patel sold 5,580 shares of the firm's stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $187.99, for a total transaction of $1,048,984.20. Following the completion of the transaction, the director owned 21,656 shares in the company, valued at approximately $4,071,111.44. This trade represents a 20.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Jack Anders sold 20,000 shares of Revolution Medicines stock in a transaction that occurred on Wednesday, June 24th. The stock was sold at an average price of $168.33, for a total transaction of $3,366,600.00. Following the completion of the transaction, the chief financial officer directly owned 123,269 shares in the company, valued at $20,749,870.77. This represents a 13.96% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 252,497 shares of company stock worth $39,481,286 in the last ninety days. Insiders own 7.60% of the company's stock.

Revolution Medicines Price Performance

RVMD opened at $189.24 on Friday. Revolution Medicines, Inc. has a one year low of $34.00 and a one year high of $193.10. The company has a debt-to-equity ratio of 0.19, a quick ratio of 6.80 and a current ratio of 6.80. The stock's fifty day moving average is $156.00 and its 200-day moving average is $120.55. The company has a market capitalization of $40.23 billion, a PE ratio of -26.77 and a beta of 1.37.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last announced its earnings results on Wednesday, May 6th. The company reported ($2.29) earnings per share for the quarter, missing the consensus estimate of ($1.83) by ($0.46). During the same quarter last year, the company earned ($1.13) earnings per share. On average, equities analysts predict that Revolution Medicines, Inc. will post -7.94 EPS for the current fiscal year.

Revolution Medicines Company 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.

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