Revolution Medicines, Inc. $RVMD Shares Bought by UBS Group AG

Key Points

• UBS Group AG boosted its stake in Revolution Medicines by 183.6% in Q4 to 3,087,937 shares (about 1.60% of the company) valued at $245.95 million, and institutional investors now own roughly 94.34% of the stock.
• Analysts are largely bullish — the consensus rating is Buy with an average price target of $78.94, and several firms have recently initiated coverage or upgraded to Buy/Strong-Buy.
• Insiders have been net sellers recently, offloading 184,592 shares worth $24.5 million over the last 90 days (including a 120,000-share sale at about $150), leaving insiders with 8.20% ownership.

UBS Group AG raised its holdings in shares of Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) by 183.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,087,937 shares of the company's stock after acquiring an additional 1,998,972 shares during the period. UBS Group AG owned approximately 1.60% of Revolution Medicines worth $245,954,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Nextech Invest Ltd. lifted its position 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 acquiring an additional 1,304,347 shares in the last quarter. Millennium Management LLC lifted its position in shares of Revolution Medicines by 681.8% in the first quarter. Millennium Management LLC now owns 156,353 shares of the company's stock worth $5,529,000 after buying an additional 136,353 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Revolution Medicines by 14.2% in 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 buying an additional 37,345 shares during the last quarter. Invesco Ltd. increased its position in Revolution Medicines by 19.3% in the 2nd quarter. Invesco Ltd. now owns 227,019 shares of the company's stock worth $8,352,000 after buying an additional 36,760 shares during the period. Finally, Jump Financial LLC increased its holdings in shares of 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 purchasing an additional 7,137 shares during the period. 94.34% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. UBS Group assumed coverage on shares of Revolution Medicines in a research note on Friday, February 27th. They set a "buy" rating on the stock. Jefferies Financial Group assumed coverage on shares of Revolution Medicines in a research report on Monday, March 16th. They issued a "buy" rating for the company. Truist Financial raised Revolution Medicines to a "strong-buy" rating in a report on Monday. Benchmark reiterated an "overweight" rating on shares of Revolution Medicines in a research note on Tuesday, February 17th. Finally, HC Wainwright reissued a "buy" rating on shares of Revolution Medicines in a report on Wednesday, April 22nd. Four analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, Revolution Medicines currently has an average rating of "Buy" and a consensus price target of $78.94.

Revolution Medicines Trading Up 10.0%

Shares of Revolution Medicines stock opened at $144.83 on Wednesday. Revolution Medicines, Inc. has a 12-month low of $34.00 and a 12-month high of $155.70. The stock has a market capitalization of $28.70 billion, a P/E ratio of -24.51 and a beta of 1.01. The company has a 50-day simple moving average of $109.16 and a 200 day simple moving average of $91.08. The company has a quick ratio of 7.14, a current ratio of 7.14 and a debt-to-equity ratio of 0.16.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last issued its quarterly earnings data on Wednesday, February 25th. The company reported ($1.86) earnings per share for the quarter, missing the consensus estimate of ($1.56) by ($0.30). During the same period in the previous year, the company earned ($1.12) EPS. Research analysts expect that Revolution Medicines, Inc. will post -7.42 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, COO Margaret A. Horn sold 4,583 shares of the stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $99.48, for a total transaction of $455,916.84. Following the sale, the chief operating officer directly owned 157,570 shares in the company, valued at $15,675,063.60. This represents a 2.83% 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 A. Goldsmith sold 120,000 shares of Revolution Medicines stock in a transaction on Wednesday, April 15th. The shares were sold at an average price of $150.09, for a total value of $18,010,800.00. Following the completion of the transaction, the insider owned 276,698 shares of the company's stock, valued at approximately $41,529,602.82. The trade was a 30.25% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 184,592 shares of company stock worth $24,499,532 over the last ninety days. 8.20% of the stock is owned by 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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