Fjarde AP Fonden Fourth Swedish National Pension Fund Buys Shares of 46,900 Revolution Medicines, Inc. $RVMD

Key Points

• Fjarde AP Fonden opened a new position in Revolution Medicines, buying 46,900 shares valued at about $4.56 million in the first quarter.
• Institutional interest in RVMD remains strong, with hedge funds and other investors holding about 94.34% of the stock and several firms increasing their stakes recently.
• Analysts remain broadly positive on the company, though the stock has a mixed valuation picture: RVMD has a Moderate Buy consensus, but the average price target of $142.33 is below its recent trading price around $189.99.

Fjarde AP Fonden Fourth Swedish National Pension Fund purchased a new position in Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 46,900 shares of the company's stock, valued at approximately $4,561,000.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Nextech Invest Ltd. raised its stake 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 acquiring an additional 1,304,347 shares during the period. Millennium Management LLC lifted its holdings in shares of Revolution Medicines by 681.8% in the 1st quarter. Millennium Management LLC now owns 156,353 shares of the company's stock worth $5,529,000 after purchasing an additional 136,353 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Revolution Medicines by 14.2% during the 1st 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. boosted its position in Revolution Medicines by 19.3% during the 2nd 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 during the period. Finally, Jump Financial LLC grew its stake in Revolution Medicines by 87.9% during the 2nd quarter. Jump Financial LLC now owns 15,258 shares of the company's stock worth $561,000 after buying an additional 7,137 shares during the last quarter. 94.34% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, insider Stephen Michael Kelsey sold 4,175 shares of the company's stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $156.12, for a total value of $651,801.00. Following the completion of the sale, the insider owned 291,876 shares in the company, valued at $45,567,681.12. This represents a 1.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Mark A. Goldsmith sold 10,020 shares of the firm's stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $156.12, for a total value of $1,564,322.40. Following the transaction, the insider directly owned 267,330 shares of the company's stock, valued at $41,735,559.60. This represents a 3.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders have sold 252,497 shares of company stock worth $39,481,286. 7.60% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on RVMD shares. Guggenheim raised their target price on Revolution Medicines to $205.00 and gave the company a "buy" rating in a research note on Thursday, May 7th. Jefferies Financial Group began coverage on shares of Revolution Medicines in a research report on Monday, March 16th. They issued a "buy" rating on the stock. Sanford C. Bernstein initiated coverage on shares of Revolution Medicines in a research note on Thursday, May 21st. They set a "market perform" rating and a $151.00 target price for the company. Mizuho upped their target price on shares of Revolution Medicines from $185.00 to $215.00 and gave the stock an "outperform" rating in a research report on Monday. Finally, Wedbush lifted their price target on Revolution Medicines from $165.00 to $181.00 and gave the company an "outperform" rating in a report on Thursday, July 2nd. Two analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $142.33.

Revolution Medicines Price Performance

RVMD stock opened at $189.99 on Tuesday. The firm's 50-day moving average is $156.00 and its two-hundred day moving average is $120.84. Revolution Medicines, Inc. has a 52 week low of $34.00 and a 52 week high of $193.69. 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 (NASDAQ:RVMD - Get Free Report) last posted its quarterly earnings data on Wednesday, May 6th. The company reported ($2.29) EPS for the quarter, missing analysts' consensus estimates of ($1.83) by ($0.46). During the same quarter last year, the business posted ($1.13) EPS. Equities research analysts expect 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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