Swiss National Bank Sells 1,300 Shares of Revolution Medicines, Inc. (NASDAQ:RVMD)

Swiss National Bank decreased its holdings in shares of Revolution Medicines, Inc. (NASDAQ:RVMD) by 0.6% during the third quarter, HoldingsChannel reports. The fund owned 225,531 shares of the company’s stock after selling 1,300 shares during the quarter. Swiss National Bank’s holdings in Revolution Medicines were worth $10,228,000 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 the business. Sei Investments Co. purchased a new position in shares of Revolution Medicines in the first quarter valued at $528,000. CANADA LIFE ASSURANCE Co increased its position in shares of Revolution Medicines by 74.8% during the first quarter. CANADA LIFE ASSURANCE Co now owns 15,646 shares of the company’s stock valued at $504,000 after buying an additional 6,696 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in shares of Revolution Medicines by 3.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 4,814,310 shares of the company’s stock worth $155,166,000 after buying an additional 177,957 shares in the last quarter. Bayesian Capital Management LP bought a new position in shares of Revolution Medicines in the first quarter valued at approximately $338,000. Finally, Janus Henderson Group PLC boosted its position in shares of Revolution Medicines by 77.9% in the first quarter. Janus Henderson Group PLC now owns 3,912,119 shares of the company’s stock valued at $126,067,000 after acquiring an additional 1,712,639 shares during the period. Institutional investors own 94.34% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. HC Wainwright increased their target price on shares of Revolution Medicines from $62.00 to $64.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Needham & Company LLC lifted their price objective on Revolution Medicines from $61.00 to $68.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Oppenheimer boosted their target price on Revolution Medicines from $55.00 to $60.00 and gave the stock an “outperform” rating in a research report on Monday, October 28th. Wedbush reaffirmed an “outperform” rating and issued a $59.00 price target on shares of Revolution Medicines in a report on Thursday, August 8th. Finally, Barclays boosted their price objective on Revolution Medicines from $54.00 to $60.00 and gave the stock an “overweight” rating in a report on Friday, September 27th. Eleven research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $61.00.

Revolution Medicines Price Performance

NASDAQ:RVMD opened at $56.75 on Monday. Revolution Medicines, Inc. has a 1-year low of $20.98 and a 1-year high of $62.40. The business has a 50 day moving average of $50.55 and a 200 day moving average of $44.62. The company has a market capitalization of $9.55 billion, a price-to-earnings ratio of -15.81 and a beta of 1.40.

Revolution Medicines (NASDAQ:RVMD) last announced its quarterly earnings data on Wednesday, November 6th. The company reported ($0.94) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.89) by ($0.05). During the same period in the previous year, the company posted ($0.99) EPS. As a group, sell-side analysts anticipate that Revolution Medicines, Inc. will post -3.51 EPS for the current year.

Insiders Place Their Bets

In other Revolution Medicines news, insider Stephen Michael Kelsey sold 16,666 shares of Revolution Medicines stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $49.49, for a total value of $824,800.34. Following the transaction, the insider now directly owns 264,408 shares of the company’s stock, valued at $13,085,551.92. The trade was a 5.93 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Jack Anders sold 10,000 shares of the stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $50.30, for a total value of $503,000.00. Following the sale, the chief financial officer now directly owns 98,932 shares of the company’s stock, valued at approximately $4,976,279.60. This trade represents a 9.18 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 127,866 shares of company stock valued at $6,355,624 over the last three months. Insiders own 8.00% of the company’s stock.

Revolution Medicines Company 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.