Revolution Medicines, Inc. $RVMD Shares Purchased by KBC Group NV

Key Points

• KBC Group NV increased its stake in Revolution Medicines by 266.6% in the first quarter, ending with 15,395 shares valued at about $1.5 million.
• Institutional ownership remains very high, with 94.34% of the stock held by institutions and hedge funds, and several other large investors also recently added to their positions.
• Insiders have been selling shares, including Director Sushil Patel and COO Margaret A. Horn, while analysts remain mostly bullish with a consensus rating of Moderate Buy and an average price target of $144.67.

KBC Group NV boosted its holdings in shares of Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) by 266.6% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 15,395 shares of the company's stock after purchasing an additional 11,196 shares during the period. KBC Group NV's holdings in Revolution Medicines were worth $1,497,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Revolution Medicines during the fourth quarter worth about $195,568,000. Avoro Capital Advisors LLC acquired a new position in Revolution Medicines in the 4th quarter valued at about $172,840,000. UBS Group AG raised its stake in Revolution Medicines by 183.6% during the 4th quarter. UBS Group AG now owns 3,087,937 shares of the company's stock valued at $245,954,000 after acquiring an additional 1,998,972 shares during the last quarter. Polar Capital Holdings Plc lifted its position in Revolution Medicines by 321.2% during the 4th quarter. Polar Capital Holdings Plc now owns 2,013,791 shares of the company's stock worth $160,398,000 after acquiring an additional 1,535,686 shares during the period. Finally, Adage Capital Partners GP L.L.C. lifted its position in Revolution Medicines by 197.1% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 2,205,555 shares of the company's stock worth $175,672,000 after acquiring an additional 1,463,155 shares during the period. 94.34% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Revolution Medicines

In other Revolution Medicines 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 sale, the director directly owned 21,656 shares in the company, valued at approximately $4,071,111.44. The trade was a 20.49% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Margaret A. Horn sold 29,600 shares of the company's stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $160.12, for a total transaction of $4,739,552.00. Following the transaction, the chief operating officer directly owned 154,647 shares in the company, valued at approximately $24,762,077.64. This trade represents a 16.07% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders sold 132,497 shares of company stock worth $21,470,486. 7.60% of the stock is currently owned by insiders.

Revolution Medicines Stock Performance

NASDAQ RVMD opened at $189.23 on Friday. The stock has a market capitalization of $40.23 billion, a price-to-earnings ratio of -26.77 and a beta of 1.37. The business's 50 day moving average is $168.87 and its two-hundred day moving average is $131.73. Revolution Medicines, Inc. has a 12-month low of $34.00 and a 12-month high of $193.82. The company has a current ratio of 6.80, a quick ratio of 6.80 and a debt-to-equity ratio of 0.19.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last posted its quarterly 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 quarter in the previous year, the firm posted ($1.13) earnings per share. Research analysts expect that Revolution Medicines, Inc. will post -7.91 EPS for the current year.

Analyst Ratings Changes

RVMD has been the topic of a number of recent research reports. Truist Financial boosted their target price on Revolution Medicines from $179.00 to $210.00 and gave the company a "buy" rating in a report on Tuesday, June 30th. Stifel Nicolaus reiterated a "buy" rating on shares of Revolution Medicines in a research report on Monday, April 20th. Royal Bank Of Canada boosted their price objective on shares of Revolution Medicines from $165.00 to $182.00 and gave the company an "outperform" rating in a research note on Tuesday, June 2nd. Guggenheim upped their price objective on shares of Revolution Medicines from $205.00 to $235.00 and gave the stock a "buy" rating in a research report on Thursday, July 9th. Finally, Oppenheimer raised their target price on shares of Revolution Medicines from $165.00 to $195.00 and gave the stock an "outperform" rating in a research note on Monday, June 1st. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $144.67.

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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