Swiss National Bank Buys 4,400 Shares of Revolution Medicines, Inc. (NASDAQ:RVMD)

Swiss National Bank grew its stake in Revolution Medicines, Inc. (NASDAQ:RVMD) by 2.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 229,931 shares of the company’s stock after purchasing an additional 4,400 shares during the quarter. Swiss National Bank owned approximately 0.14% of Revolution Medicines worth $10,057,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of RVMD. Lord Abbett & CO. LLC bought a new stake in shares of Revolution Medicines in the third quarter valued at $83,082,000. Janus Henderson Group PLC grew its position in Revolution Medicines by 32.3% during the third quarter. Janus Henderson Group PLC now owns 6,137,244 shares of the company’s stock worth $278,280,000 after buying an additional 1,497,026 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Revolution Medicines by 58.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,763,117 shares of the company’s stock worth $79,957,000 after buying an additional 653,433 shares in the last quarter. Fred Alger Management LLC grew its position in Revolution Medicines by 2,384.3% during the third quarter. Fred Alger Management LLC now owns 540,673 shares of the company’s stock worth $24,520,000 after buying an additional 518,909 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new position in shares of Revolution Medicines in the 4th quarter worth about $14,067,000. 94.34% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, CFO Jack Anders sold 1,864 shares of Revolution Medicines stock in a transaction on Monday, March 17th. The stock was sold at an average price of $39.04, for a total transaction of $72,770.56. Following the completion of the sale, the chief financial officer now directly owns 115,006 shares in the company, valued at approximately $4,489,834.24. This trade represents a 1.59 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Margaret A. Horn sold 3,058 shares of Revolution Medicines stock in a transaction on Monday, March 17th. The stock was sold at an average price of $39.04, for a total value of $119,384.32. Following the sale, the chief operating officer now owns 153,533 shares of the company’s stock, valued at approximately $5,993,928.32. This trade represents a 1.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 16,660 shares of company stock worth $650,406. Corporate insiders own 8.00% of the company’s stock.

Revolution Medicines Stock Performance

Shares of Revolution Medicines stock opened at $38.49 on Friday. Revolution Medicines, Inc. has a one year low of $29.55 and a one year high of $62.40. The stock’s fifty day moving average is $40.63 and its 200 day moving average is $45.73. The stock has a market cap of $7.16 billion, a P/E ratio of -10.72 and a beta of 1.46.

Revolution Medicines (NASDAQ:RVMD) last posted its quarterly earnings results on Wednesday, February 26th. The company reported ($1.12) EPS for the quarter, missing analysts’ consensus estimates of ($1.01) by ($0.11). Analysts predict that Revolution Medicines, Inc. will post -3.49 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on RVMD shares. Wedbush reissued an “outperform” rating and issued a $67.00 target price on shares of Revolution Medicines in a research note on Thursday, February 27th. Stifel Nicolaus lowered their price target on Revolution Medicines from $80.00 to $78.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. Needham & Company LLC reduced their target price on Revolution Medicines from $60.00 to $59.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. Guggenheim upped their price target on Revolution Medicines from $82.00 to $87.00 and gave the stock a “buy” rating in a research note on Tuesday, December 3rd. Finally, UBS Group upped their price target on Revolution Medicines from $65.00 to $71.00 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. Twelve investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Revolution Medicines presently has a consensus rating of “Buy” and a consensus target price of $66.31.

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.