BIT Capital GmbH Acquires 16,878 Shares of Revolution Medicines, Inc. $RVMD

BIT Capital GmbH grew its holdings in shares of Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) by 1,108.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,400 shares of the company's stock after buying an additional 16,878 shares during the quarter. BIT Capital GmbH's holdings in Revolution Medicines were worth $1,466,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. General Atlantic L.P. bought a new stake in shares of Revolution Medicines in the 3rd quarter valued at about $115,556,000. Norges Bank bought a new stake in shares of Revolution Medicines in the 4th quarter valued at about $195,568,000. UBS Group AG raised its holdings in shares of Revolution Medicines by 183.6% in the 4th quarter. UBS Group AG now owns 3,087,937 shares of the company's stock valued at $245,954,000 after purchasing an additional 1,998,972 shares during the period. Nextech Invest Ltd. raised its holdings in shares of Revolution Medicines by 20.7% in the 4th quarter. Nextech Invest Ltd. now owns 7,601,087 shares of the company's stock valued at $332,472,000 after purchasing an additional 1,304,347 shares during the period. Finally, Vestal Point Capital LP bought a new stake in shares of Revolution Medicines in the 2nd quarter valued at about $44,148,000. 94.34% of the stock is owned by institutional investors.

Insider Activity at Revolution Medicines

In other news, insider Lin Wei sold 2,073 shares of the stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $99.48, for a total transaction of $206,222.04. Following the transaction, the insider owned 101,366 shares of the company's stock, valued at $10,083,889.68. This represents a 2.00% decrease in their position. 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 4,302 shares of the stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $99.48, for a total transaction of $427,962.96. Following the transaction, the insider directly owned 295,398 shares in the company, valued at $29,386,193.04. This trade represents a 1.44% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 148,592 shares of company stock worth $20,855,132. 7.60% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on RVMD. UBS Group began coverage on shares of Revolution Medicines in a report on Friday, February 27th. They issued a "buy" rating on the stock. Sanford C. Bernstein began coverage on shares of Revolution Medicines in a report on Thursday, May 21st. They issued a "market perform" rating and a $151.00 target price on the stock. Truist Financial began coverage on shares of Revolution Medicines in a report on Monday, May 18th. They issued a "buy" rating and a $179.00 target price on the stock. HC Wainwright upped their target price on shares of Revolution Medicines from $169.00 to $195.00 and gave the company a "buy" rating in a report on Monday. Finally, Evercore reaffirmed an "outperform" rating on shares of Revolution Medicines in a report on Tuesday, April 14th. Three investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $123.72.

Revolution Medicines Price Performance

Shares of NASDAQ:RVMD opened at $149.23 on Friday. The firm has a market cap of $31.73 billion, a PE ratio of -21.11 and a beta of 1.40. The firm's fifty day moving average is $135.34 and its 200-day moving average is $107.66. The company has a debt-to-equity ratio of 0.19, a quick ratio of 6.80 and a current ratio of 6.80. Revolution Medicines, Inc. has a 52 week low of $34.00 and a 52 week high of $166.50.

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 analysts' consensus estimates of ($1.83) by ($0.46). During the same period last year, the company earned ($1.13) EPS. Sell-side analysts predict that Revolution Medicines, Inc. will post -7.94 earnings per share for the current year.

About Revolution Medicines

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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