Revolution Medicines, Inc. (NASDAQ:RVMD) Shares Purchased by Nextech Invest Ltd.

Nextech Invest Ltd. boosted its holdings in shares of Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) by 20.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,601,087 shares of the company's stock after purchasing an additional 1,304,347 shares during the period. Revolution Medicines makes up approximately 77.3% of Nextech Invest Ltd.'s holdings, making the stock its biggest position. Nextech Invest Ltd. owned about 4.08% of Revolution Medicines worth $332,472,000 as of its most recent SEC filing.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on RVMD shares. Stifel Nicolaus lowered their target price on shares of Revolution Medicines from $78.00 to $64.00 and set a "buy" rating on the stock in a research note on Tuesday, April 1st. Oppenheimer raised their price target on shares of Revolution Medicines from $70.00 to $75.00 and gave the stock an "outperform" rating in a research report on Thursday, May 8th. HC Wainwright restated a "buy" rating and issued a $72.00 price target (down from $73.00) on shares of Revolution Medicines in a research report on Wednesday, May 14th. Guggenheim reduced their price objective on shares of Revolution Medicines from $87.00 to $80.00 and set a "buy" rating for the company in a report on Thursday, May 8th. Finally, Wedbush reaffirmed an "outperform" rating and set a $67.00 price objective on shares of Revolution Medicines in a report on Thursday, May 8th. Twelve analysts have rated the stock with a buy rating, According to data from MarketBeat, Revolution Medicines currently has an average rating of "Buy" and a consensus target price of $67.08.

Revolution Medicines Stock Down 0.6%

NASDAQ RVMD traded down $0.25 during trading on Monday, reaching $39.30. 246,643 shares of the stock traded hands, compared to its average volume of 1,493,593. The firm has a market cap of $7.32 billion, a price-to-earnings ratio of -10.94 and a beta of 1.11. The stock's 50-day moving average price is $37.49 and its 200 day moving average price is $43.05. Revolution Medicines, Inc. has a fifty-two week low of $29.17 and a fifty-two week high of $62.40.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The company reported ($1.13) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.12) by ($0.01). During the same quarter in the previous year, the business posted ($0.70) EPS. Analysts anticipate that Revolution Medicines, Inc. will post -3.49 EPS for the current fiscal year.

Insider Transactions at Revolution Medicines

In other news, CFO Jack Anders sold 1,864 shares of the business's stock in a transaction on Monday, March 17th. The shares were sold at an average price of $39.04, for a total value of $72,770.56. Following the sale, the chief financial officer now owns 115,006 shares of the company's stock, valued at $4,489,834.24. The trade was a 1.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Margaret A. Horn sold 3,058 shares of the business's stock in a transaction on Monday, March 17th. The stock was sold at an average price of $39.04, for a total transaction of $119,384.32. Following the completion of the sale, the chief operating officer now directly owns 153,533 shares in the company, valued at approximately $5,993,928.32. This represents a 1.95% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 16,660 shares of company stock valued at $650,406 over the last 90 days. 8.20% of the stock is owned by corporate insiders.

Revolution Medicines Profile

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.