Swiss National Bank Grows Stock Holdings in Revolution Medicines, Inc. (NASDAQ:RVMD)

Swiss National Bank raised its holdings in shares of Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) by 22.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 200,131 shares of the company's stock after acquiring an additional 36,531 shares during the quarter. Swiss National Bank owned about 0.18% of Revolution Medicines worth $5,740,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of RVMD. Victory Capital Management Inc. increased its holdings in shares of Revolution Medicines by 63.1% in the fourth quarter. Victory Capital Management Inc. now owns 558,369 shares of the company's stock worth $16,014,000 after purchasing an additional 216,010 shares during the period. State of New Jersey Common Pension Fund D increased its holdings in shares of Revolution Medicines by 51.1% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 113,390 shares of the company's stock worth $3,252,000 after purchasing an additional 38,363 shares during the period. New York State Common Retirement Fund increased its holdings in shares of Revolution Medicines by 43.9% in the fourth quarter. New York State Common Retirement Fund now owns 60,842 shares of the company's stock worth $1,745,000 after purchasing an additional 18,564 shares during the period. Handelsbanken Fonder AB increased its holdings in shares of Revolution Medicines by 182.9% in the fourth quarter. Handelsbanken Fonder AB now owns 40,175 shares of the company's stock worth $1,152,000 after purchasing an additional 25,975 shares during the period. Finally, Beaumont Financial Advisors LLC bought a new position in shares of Revolution Medicines in the fourth quarter worth $428,000. Institutional investors own 94.34% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on RVMD. Wedbush upped their price target on shares of Revolution Medicines from $42.00 to $46.00 and gave the stock an "outperform" rating in a report on Thursday, May 9th. Piper Sandler began coverage on shares of Revolution Medicines in a research report on Monday, March 11th. They issued an "overweight" rating and a $43.00 target price for the company. Raymond James upgraded shares of Revolution Medicines from an "outperform" rating to a "strong-buy" rating and upped their target price for the stock from $36.00 to $48.00 in a research report on Wednesday, April 10th. HC Wainwright reiterated a "buy" rating and issued a $44.00 target price on shares of Revolution Medicines in a research report on Monday. Finally, Oppenheimer upped their target price on shares of Revolution Medicines from $43.00 to $45.00 and gave the stock an "outperform" rating in a research report on Friday, April 12th. Nine equities research analysts have rated the stock with a buy rating and one has given 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 $43.20.

Insiders Place Their Bets

In other Revolution Medicines news, CFO Jack Anders sold 1,261 shares of the firm's stock in a transaction on Monday, March 18th. The shares were sold at an average price of $31.58, for a total value of $39,822.38. Following the sale, the chief financial officer now owns 101,959 shares of the company's stock, valued at approximately $3,219,865.22. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Revolution Medicines news, CFO Jack Anders sold 1,261 shares of the firm's stock in a transaction on Monday, March 18th. The shares were sold at an average price of $31.58, for a total value of $39,822.38. Following the sale, the chief financial officer now owns 101,959 shares of the company's stock, valued at approximately $3,219,865.22. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Sushil Patel sold 2,155 shares of the firm's 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 sale, the director now directly owns 15,700 shares in the company, valued at approximately $580,900. The disclosure for this sale can be found here. Insiders have sold a total of 28,705 shares of company stock valued at $1,031,049 in the last quarter. Insiders own 8.50% of the company's stock.

Revolution Medicines Stock Performance

Shares of RVMD stock traded up $0.42 on Friday, hitting $39.41. 1,118,299 shares of the company's stock traded hands, compared to its average volume of 1,338,611. Revolution Medicines, Inc. has a one year low of $15.44 and a one year high of $40.21. The company's fifty day simple moving average is $34.68 and its 200 day simple moving average is $29.22. The stock has a market capitalization of $6.50 billion, a price-to-earnings ratio of -10.40 and a beta of 1.46.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last released its earnings results on Wednesday, May 8th. The company reported ($0.70) EPS for the quarter, beating the consensus estimate of ($0.75) by $0.05. The company's revenue for the quarter was down 100.0% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.72) EPS. As a group, sell-side analysts anticipate that Revolution Medicines, Inc. will post -3.12 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.