Handelsbanken Fonder AB Sells 2,400 Shares of Revolution Medicines, Inc. (NASDAQ:RVMD)

Handelsbanken Fonder AB lowered its position in shares of Revolution Medicines, Inc. (NASDAQ:RVMD) by 5.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 44,375 shares of the company’s stock after selling 2,400 shares during the period. Handelsbanken Fonder AB’s holdings in Revolution Medicines were worth $1,941,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Quarry LP bought a new stake in Revolution Medicines in the 3rd quarter worth approximately $82,000. KBC Group NV grew its position in Revolution Medicines by 12.9% in the 3rd quarter. KBC Group NV now owns 3,221 shares of the company’s stock worth $146,000 after purchasing an additional 368 shares during the period. Avanza Fonder AB bought a new stake in Revolution Medicines in the 4th quarter worth approximately $173,000. Everence Capital Management Inc. bought a new stake in Revolution Medicines in the 4th quarter worth approximately $203,000. Finally, CIBC Asset Management Inc bought a new stake in shares of Revolution Medicines during the 3rd quarter valued at $216,000. Institutional investors own 94.34% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on RVMD. Needham & Company LLC reissued a “buy” rating and set a $68.00 price objective on shares of Revolution Medicines in a research report on Tuesday, December 3rd. JPMorgan Chase & Co. boosted their price objective on shares of Revolution Medicines from $63.00 to $71.00 and gave the company an “overweight” rating in a research report on Tuesday, December 3rd. Piper Sandler lifted their target price on shares of Revolution Medicines from $57.00 to $70.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. HC Wainwright lifted their target price on shares of Revolution Medicines from $64.00 to $72.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Finally, Guggenheim lifted their target price on shares of Revolution Medicines from $82.00 to $87.00 and gave the company a “buy” rating in a research note on Tuesday, December 3rd. Eleven research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $66.25.

Insider Transactions at Revolution Medicines

In related news, CFO Jack Anders sold 2,635 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $45.40, for a total transaction of $119,629.00. Following the transaction, the chief financial officer now directly owns 96,470 shares in the company, valued at approximately $4,379,738. This represents a 2.66 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Thilo Schroeder purchased 1,304,347 shares of the business’s stock in a transaction that occurred on Thursday, December 5th. The shares were purchased at an average price of $46.00 per share, for a total transaction of $59,999,962.00. Following the completion of the acquisition, the director now directly owns 2,096,612 shares in the company, valued at $96,444,152. The trade was a 164.64 % increase in their position. The disclosure for this purchase can be found here. Insiders have sold a total of 18,678 shares of company stock worth $847,981 in the last three months. Insiders own 8.00% of the company’s stock.

Revolution Medicines Stock Up 0.3 %

Revolution Medicines stock opened at $41.34 on Wednesday. The company’s 50-day moving average price is $42.35 and its 200-day moving average price is $46.28. Revolution Medicines, Inc. has a twelve month low of $29.00 and a twelve month high of $62.40. The company has a market cap of $6.95 billion, a PE ratio of -11.52 and a beta of 1.45.

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.