Swiss National Bank Buys 46,600 Shares of Revolution Medicines, Inc. $RVMD

Key Points

• The Swiss National Bank increased its stake in Revolution Medicines, Inc. by 20.3% during the first quarter, owning approximately 0.15% of the company valued at about $9.78 million.
• Analysts have varying price targets for Revolution Medicines, with a consensus price target of $68.67 and an average rating of "Buy" across several firms.
• As of its latest earnings report, Revolution Medicines missed EPS estimates by ($0.37), reporting ($1.31) for the quarter, although revenues increased slightly compared to the previous year.

Swiss National Bank lifted its stake in shares of Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) by 20.3% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 276,531 shares of the company's stock after purchasing an additional 46,600 shares during the period. Swiss National Bank owned approximately 0.15% of Revolution Medicines worth $9,778,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. Principal Financial Group Inc. raised its position in Revolution Medicines by 2.1% during the first quarter. Principal Financial Group Inc. now owns 12,792 shares of the company's stock valued at $452,000 after buying an additional 259 shares during the period. Russell Investments Group Ltd. raised its position in Revolution Medicines by 11.4% during the fourth quarter. Russell Investments Group Ltd. now owns 4,243 shares of the company's stock valued at $186,000 after buying an additional 434 shares during the period. CANADA LIFE ASSURANCE Co raised its position in Revolution Medicines by 5.0% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 11,398 shares of the company's stock valued at $498,000 after buying an additional 545 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its position in Revolution Medicines by 11.0% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,221 shares of the company's stock valued at $232,000 after buying an additional 615 shares during the period. Finally, GF Fund Management CO. LTD. raised its position in Revolution Medicines by 21.9% during the first quarter. GF Fund Management CO. LTD. now owns 4,307 shares of the company's stock valued at $152,000 after buying an additional 775 shares during the period. 94.34% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

RVMD has been the topic of several recent analyst reports. The Goldman Sachs Group initiated coverage on Revolution Medicines in a research report on Tuesday, July 15th. They set a "buy" rating and a $65.00 price target on the stock. Needham & Company LLC dropped their price target on Revolution Medicines from $57.00 to $56.00 and set a "buy" rating on the stock in a research report on Thursday, August 7th. Piper Sandler began coverage on Revolution Medicines in a research report on Monday. They set an "overweight" rating on the stock. Oppenheimer boosted their target price on Revolution Medicines from $70.00 to $75.00 and gave the company an "outperform" rating in a research note on Thursday, May 8th. Finally, Wedbush restated an "outperform" rating and issued a $73.00 target price (up previously from $67.00) on shares of Revolution Medicines in a research note on Tuesday, June 24th. Thirteen equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $69.54.

Revolution Medicines Stock Up 0.4%

Shares of RVMD traded up $0.13 during trading hours on Monday, hitting $36.45. 1,958,128 shares of the company were exchanged, compared to its average volume of 1,849,430. The company has a market cap of $6.81 billion, a PE ratio of -8.10 and a beta of 1.16. The firm's 50 day moving average is $37.84 and its 200-day moving average is $38.49. Revolution Medicines, Inc. has a 52 week low of $29.17 and a 52 week high of $62.40. The company has a debt-to-equity ratio of 0.13, a quick ratio of 11.79 and a current ratio of 11.79.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported ($1.31) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.94) by ($0.37). The company's revenue for the quarter was up .0% on a year-over-year basis. During the same period in the prior year, the company posted ($0.81) earnings per share. On average, equities research analysts forecast that Revolution Medicines, Inc. will post -3.49 EPS for the current fiscal year.

About Revolution Medicines

Revolution Medicines, Inc, a clinical-stage precision oncology company, develops novel targeted therapies for RAS-addicted cancers. The company's research and development pipeline comprises RAS(ON) inhibitors designed to be used as monotherapy in combination with other RAS(ON) inhibitors and/or in combination with RAS companion inhibitors or other therapeutic agents, and RAS companion inhibitors for combination treatment strategies.