Andra AP fonden Has $5.28 Million Stock Holdings in Revolution Medicines, Inc. $RVMD

Key Points

• Andra AP fonden increased its Revolution Medicines stake by 69.9% in the second quarter, ending with 28,200 shares valued at approximately $5.28 million. Institutional investors collectively own 94.34% of the company.
• Wall Street remains broadly bullish: analysts’ consensus rating is “Moderate Buy”, with an average price target of $228.21; several firms recently raised targets or upgraded the stock to “Strong Buy.”
• Revolution Medicines shares opened at $190.74, down 1.1%, while the company reported a quarterly EPS loss of $3.06—worse than the expected $2.04 loss. Two executives sold shares to cover tax obligations tied to vested equity awards.

Andra AP fonden increased its position in shares of Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) by 69.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 28,200 shares of the company's stock after acquiring an additional 11,600 shares during the quarter. Andra AP fonden's holdings in Revolution Medicines were worth $5,281,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the company. Contravisory Investment Management Inc. bought a new position in Revolution Medicines during the second quarter worth about $32,000. ABS Investment Management LLC bought a new position in shares of Revolution Medicines during the 2nd quarter valued at about $337,104,000. Johnson Financial Group Inc. acquired a new position in shares of Revolution Medicines in the 2nd quarter valued at approximately $37,000. Northwestern Mutual Wealth Management Co. acquired a new position in shares of Revolution Medicines in the 2nd quarter valued at approximately $41,000. Finally, Silvant Capital Management LLC bought a new stake in Revolution Medicines during the 2nd quarter worth approximately $41,000. Institutional investors and hedge funds own 94.34% of the company's stock.

Wall Street Analyst Weigh In

RVMD has been the topic of a number of research reports. Guggenheim lifted their price target on shares of Revolution Medicines from $240.00 to $275.00 and gave the company a "buy" rating in a research note on Friday, August 28th. Raymond James Financial restated a "strong-buy" rating and set a $248.00 price objective on shares of Revolution Medicines in a report on Thursday, August 27th. Stifel Nicolaus upped their target price on shares of Revolution Medicines from $215.00 to $230.00 and gave the stock a "buy" rating in a research note on Wednesday, September 9th. TD Cowen upgraded Revolution Medicines to a "strong-buy" rating in a report on Monday, August 24th. Finally, Truist Financial lifted their price target on Revolution Medicines from $231.00 to $239.00 and gave the company a "buy" rating in a research note on Thursday, August 27th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $228.21.

Insiders Place Their Bets

In related news, CFO Jack Anders sold 4,053 shares of Revolution Medicines stock in a transaction dated Wednesday, September 16th. The shares were sold at an average price of $199.24, for a total transaction of $807,519.72. Following the completion of the sale, the chief financial officer owned 119,216 shares of the company's stock, valued at approximately $23,752,595.84. The trade was a 3.29% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Margaret Horn sold 4,967 shares of the stock in a transaction on Wednesday, September 16th. The stock was sold at an average price of $199.24, for a total value of $989,625.08. Following the transaction, the chief operating officer owned 149,680 shares in the company, valued at $29,822,243.20. The trade was a 3.21% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 280,119 shares of company stock worth $57,238,443 in the last quarter. Company insiders own 7.60% of the company's stock.

Revolution Medicines Trading Down 1.1%

Shares of Revolution Medicines stock opened at $190.74 on Thursday. The stock has a market cap of $40.88 billion, a P/E ratio of -21.63 and a beta of 1.40. The company has a quick ratio of 11.38, a current ratio of 11.38 and a debt-to-equity ratio of 0.40. Revolution Medicines, Inc. has a 12-month low of $42.18 and a 12-month high of $224.31. The business's 50 day moving average is $200.03 and its 200-day moving average is $161.91.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last issued its 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 in the prior year, the company earned ($1.31) EPS. Equities research analysts predict that Revolution Medicines, Inc. will post -8.87 earnings per share for the current fiscal year.

Revolution Medicines Company Profile

Revolution Medicines, Inc is a clinical-stage biotechnology company focused on developing targeted treatments for cancer. The company specializes in therapies designed to inhibit oncogenic RAS signaling, a pathway involved in many difficult-to-treat cancers, including tumors driven by KRAS mutations.

Its pipeline includes investigational RAS(ON) inhibitors intended to target active forms of RAS proteins. Key programs have included daraxonrasib (RMC-6236), an oral inhibitor being studied in cancers with a range of RAS mutations, as well as mutation-selective programs such as RMC-9805 for KRAS G12D and RMC-6291 for KRAS G12C.

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