Hsbc Holdings PLC Acquires 39,025 Shares of Revolution Medicines, Inc. $RVMD

Hsbc Holdings PLC grew its holdings in Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) by 119.0% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 71,816 shares of the company's stock after purchasing an additional 39,025 shares during the period. Hsbc Holdings PLC's holdings in Revolution Medicines were worth $13,458,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of RVMD. Janus Henderson Group PLC boosted its stake in Revolution Medicines by 8.3% in the fourth quarter. Janus Henderson Group PLC now owns 12,303,502 shares of the company's stock valued at $980,036,000 after buying an additional 947,448 shares in the last quarter. Nextech Invest Ltd. lifted its stake in 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 last quarter. Paradigm Biocapital Advisors LP boosted its position in Revolution Medicines by 6.8% in the fourth quarter. Paradigm Biocapital Advisors LP now owns 6,644,403 shares of the company's stock valued at $529,227,000 after buying an additional 421,112 shares in the last quarter. Bellevue Group AG boosted its position in Revolution Medicines by 21.7% in the third quarter. Bellevue Group AG now owns 5,573,838 shares of the company's stock valued at $260,298,000 after buying an additional 994,538 shares in the last quarter. Finally, Deerfield Management Company L.P. grew its stake in shares of Revolution Medicines by 7.9% during the third quarter. Deerfield Management Company L.P. now owns 3,650,342 shares of the company's stock worth $170,471,000 after buying an additional 266,270 shares during the last quarter. Institutional investors and hedge funds own 94.34% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on RVMD shares. Truist Financial increased 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. Oppenheimer upped their target price on Revolution Medicines from $230.00 to $260.00 and gave the stock an "outperform" rating in a report on Thursday, August 27th. Wolfe Research reiterated an "outperform" rating and issued a $220.00 target price on shares of Revolution Medicines in a research report on Monday, August 10th. HC Wainwright lifted their price target on Revolution Medicines from $195.00 to $280.00 and gave the company a "buy" rating in a research note on Thursday, August 27th. Finally, Sanford C. Bernstein boosted their price target on Revolution Medicines from $151.00 to $179.00 and gave the stock a "market perform" rating in a report on Friday, August 21st. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $200.74.

Revolution Medicines Price Performance

RVMD stock opened at $207.32 on Wednesday. The company has a quick ratio of 11.38, a current ratio of 11.38 and a debt-to-equity ratio of 0.40. The firm has a market cap of $44.44 billion, a price-to-earnings ratio of -23.51 and a beta of 1.40. The company's fifty day simple moving average is $197.68 and its 200 day simple moving average is $154.44. Revolution Medicines, Inc. has a 12-month low of $39.73 and a 12-month high of $224.31.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The company reported ($3.06) earnings per share for the quarter, missing analysts' consensus estimates of ($2.04) by ($1.02). During the same period in the previous year, the business posted ($1.31) earnings per share. On average, analysts expect that Revolution Medicines, Inc. will post -8.83 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Sushil Patel sold 5,580 shares of the business's stock in a transaction on 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 transaction, the director owned 21,656 shares in the company, valued at $4,071,111.44. The trade was a 20.49% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Mark Goldsmith sold 80,000 shares of the stock in a transaction on Friday, August 21st. The stock was sold at an average price of $209.20, for a total transaction of $16,736,000.00. Following the transaction, the insider directly owned 267,330 shares in the company, valued at approximately $55,925,436. This represents a 23.03% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 268,497 shares of company stock worth $49,587,926 over the last ninety days. 7.60% of the stock is owned by company insiders.

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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