Handelsbanken Fonder AB Increases Stock Holdings in Revolution Medicines, Inc. (NASDAQ:RVMD)

Handelsbanken Fonder AB raised its holdings in Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) by 182.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 40,175 shares of the company's stock after purchasing an additional 25,975 shares during the period. Handelsbanken Fonder AB's holdings in Revolution Medicines were worth $1,152,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of RVMD. Amalgamated Bank boosted its position in shares of Revolution Medicines by 5.3% in the third quarter. Amalgamated Bank now owns 15,587 shares of the company's stock valued at $431,000 after acquiring an additional 787 shares during the period. Teacher Retirement System of Texas boosted its position in shares of Revolution Medicines by 4.8% in the third quarter. Teacher Retirement System of Texas now owns 21,137 shares of the company's stock valued at $585,000 after acquiring an additional 973 shares during the period. China Universal Asset Management Co. Ltd. boosted its position in shares of Revolution Medicines by 101.1% in the third quarter. China Universal Asset Management Co. Ltd. now owns 2,802 shares of the company's stock valued at $78,000 after acquiring an additional 1,409 shares during the period. Swiss National Bank boosted its position in shares of Revolution Medicines by 1.1% in the third quarter. Swiss National Bank now owns 163,600 shares of the company's stock valued at $4,528,000 after acquiring an additional 1,800 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Revolution Medicines by 15.2% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,685 shares of the company's stock worth $462,000 after buying an additional 2,199 shares in the last quarter. Hedge funds and other institutional investors own 94.34% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on RVMD shares. Wedbush raised their price objective on Revolution Medicines from $41.00 to $42.00 and gave the company an "outperform" rating in a report on Tuesday, February 27th. Piper Sandler started coverage on Revolution Medicines in a report on Monday, March 11th. They set an "overweight" rating and a $43.00 price objective on the stock. Oppenheimer raised their price objective on Revolution Medicines from $43.00 to $45.00 and gave the company an "outperform" rating in a report on Friday, April 12th. Raymond James raised Revolution Medicines from an "outperform" rating to a "strong-buy" rating and raised their price objective for the company from $36.00 to $48.00 in a report on Wednesday, April 10th. Finally, Needham & Company LLC reissued a "buy" rating and set a $46.00 price objective (up from $36.00) on shares of Revolution Medicines in a report on Monday, April 8th. Nine analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $41.20.

Insider Activity at Revolution Medicines

In related news, Director Sushil Patel sold 2,155 shares of Revolution Medicines stock in a transaction that occurred on Wednesday, April 10th. The stock was sold at an average price of $37.00, for a total transaction of $79,735.00. Following the sale, the director now directly owns 15,700 shares in the company, valued at $580,900. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Revolution Medicines news, Director Sushil Patel sold 2,155 shares of Revolution Medicines stock in a transaction on Wednesday, April 10th. The stock was sold at an average price of $37.00, for a total transaction of $79,735.00. Following the completion of the transaction, the director now owns 15,700 shares in the company, valued at $580,900. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Jeff Cislini sold 1,252 shares of Revolution Medicines stock in a transaction on Monday, March 18th. The shares were sold at an average price of $31.58, for a total value of $39,538.16. Following the transaction, the general counsel now owns 55,874 shares of the company's stock, valued at approximately $1,764,500.92. The disclosure for this sale can be found here. Insiders have sold 18,705 shares of company stock worth $630,749 over the last ninety days. 8.50% of the stock is owned by corporate insiders.

Revolution Medicines Trading Up 3.2 %

Shares of RVMD stock traded up $1.15 during trading hours on Monday, reaching $37.11. The company's stock had a trading volume of 1,247,739 shares, compared to its average volume of 1,373,441. The stock has a market capitalization of $6.33 billion, a P/E ratio of -9.54 and a beta of 1.54. Revolution Medicines, Inc. has a one year low of $15.44 and a one year high of $38.73. The firm's fifty day simple moving average is $32.33 and its 200 day simple moving average is $28.01.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last released its quarterly earnings results on Monday, February 26th. The company reported ($1.14) earnings per share for the quarter, missing the consensus estimate of ($0.85) by ($0.29). The company had revenue of $0.74 million during the quarter, compared to the consensus estimate of $1.20 million. During the same quarter in the previous year, the company earned ($0.63) EPS. The firm's quarterly revenue was down 95.2% compared to the same quarter last year. As a group, equities research analysts forecast that Revolution Medicines, Inc. will post -3.18 earnings per share 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.