Revolution Medicines, Inc. $RVMD Stake Boosted by Atle Fund Management AB

Key Points

• Atle Fund Management AB increased its stake in Revolution Medicines, Inc. by 49.7%, owning 82,275 shares valued at approximately $3,027,000 at the end of the most recent quarter.
• Multiple analysts have rated Revolution Medicines positively, with Truist Financial initiating coverage and setting a price target of $99.00, contributing to a consensus price target of $73.67.
• Insider trading activity saw CFO Jack Anders and another insider sell shares, decreasing their respective holdings by about 2% each, with total insider sales amounting to over $7 million in the last three months.

Atle Fund Management AB lifted its holdings in Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) by 49.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 82,275 shares of the company's stock after buying an additional 27,314 shares during the quarter. Revolution Medicines accounts for 1.3% of Atle Fund Management AB's portfolio, making the stock its 26th biggest holding. Atle Fund Management AB's holdings in Revolution Medicines were worth $3,027,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the business. Nuveen Asset Management LLC grew its stake in shares of Revolution Medicines by 3.1% during the 4th quarter. Nuveen Asset Management LLC now owns 473,728 shares of the company's stock worth $20,721,000 after purchasing an additional 14,391 shares during the period. Nextech Invest Ltd. boosted its holdings in Revolution Medicines by 20.7% during the fourth quarter. Nextech Invest Ltd. now owns 7,601,087 shares of the company's stock worth $332,472,000 after buying an additional 1,304,347 shares in the last quarter. Voloridge Investment Management LLC boosted its holdings in Revolution Medicines by 80.5% during the fourth quarter. Voloridge Investment Management LLC now owns 47,851 shares of the company's stock worth $2,093,000 after buying an additional 21,337 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Revolution Medicines by 21.7% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 262,851 shares of the company's stock worth $11,497,000 after buying an additional 46,825 shares during the period. Finally, GF Fund Management CO. LTD. purchased a new position in Revolution Medicines in the fourth quarter valued at about $154,000. Hedge funds and other institutional investors own 94.34% of the company's stock.

Insider Transactions at Revolution Medicines

In other news, COO Margaret A. Horn sold 4,775 shares of the business's stock in a transaction that occurred on Tuesday, September 16th. The stock was sold at an average price of $45.82, for a total value of $218,790.50. Following the completion of the sale, the chief operating officer directly owned 145,900 shares in the company, valued at approximately $6,685,138. The trade was a 3.17% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Lin Wei sold 2,160 shares of the firm's stock in a transaction on Tuesday, September 16th. The stock was sold at an average price of $45.82, for a total value of $98,971.20. Following the transaction, the insider owned 88,339 shares in the company, valued at $4,047,692.98. This trade represents a 2.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 163,033 shares of company stock valued at $7,242,708 over the last 90 days. Corporate insiders own 8.20% of the company's stock.

Revolution Medicines Stock Down 0.8%

RVMD stock traded down $0.37 during trading on Tuesday, reaching $44.04. The stock had a trading volume of 793,881 shares, compared to its average volume of 1,901,571. The company has a current ratio of 11.79, a quick ratio of 11.79 and a debt-to-equity ratio of 0.13. The firm has a fifty day moving average price of $38.77 and a 200 day moving average price of $38.39. The company has a market capitalization of $8.23 billion, a P/E ratio of -9.78 and a beta of 1.12. Revolution Medicines, Inc. has a 1-year low of $29.17 and a 1-year high of $62.40.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last announced its earnings results on Wednesday, August 6th. The company reported ($1.31) earnings per share for the quarter, missing the consensus estimate of ($0.94) by ($0.37). During the same quarter in the prior year, the business posted ($0.81) earnings per share. The firm's quarterly revenue was up .0% compared to the same quarter last year. On average, equities analysts anticipate that Revolution Medicines, Inc. will post -3.49 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Wells Fargo & Company boosted their price target on Revolution Medicines from $67.00 to $70.00 and gave the stock an "overweight" rating in a research note on Thursday, September 11th. Lifesci Capital initiated coverage on shares of Revolution Medicines in a research report on Monday, August 18th. They issued an "outperform" rating and a $80.00 price objective on the stock. Raymond James Financial initiated coverage on Revolution Medicines in a report on Friday, September 12th. They set a "strong-buy" rating and a $72.00 target price on the stock. Guggenheim reaffirmed a "buy" rating and set a $80.00 price target on shares of Revolution Medicines in a research note on Wednesday, June 25th. Finally, Piper Sandler assumed coverage on Revolution Medicines in a research report on Monday, August 18th. They issued an "overweight" rating and a $75.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating and fourteen have assigned a Buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $73.67.

About Revolution Medicines

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.