Knights of Columbus Asset Advisors LLC Takes Position in Revolution Medicines, Inc. $RVMD

Knights of Columbus Asset Advisors LLC purchased a new position in shares of Revolution Medicines, Inc. (NASDAQ:RVMD) in the third quarter, HoldingsChannel.com reports. The firm purchased 12,573 shares of the company’s stock, valued at approximately $587,000.

Other large investors also recently bought and sold shares of the company. Nextech Invest Ltd. increased its holdings in shares of Revolution Medicines by 20.7% in the 4th quarter. Nextech Invest Ltd. now owns 7,601,087 shares of the company’s stock valued at $332,472,000 after purchasing an additional 1,304,347 shares in the last quarter. Bellevue Group AG boosted its position in shares of Revolution Medicines by 4.7% in the second quarter. Bellevue Group AG now owns 4,579,300 shares of the company’s stock worth $168,472,000 after acquiring an additional 205,000 shares during the last quarter. Norges Bank purchased a new position in shares of Revolution Medicines in the 2nd quarter worth $62,584,000. Westfield Capital Management Co. LP raised its holdings in Revolution Medicines by 55.0% in the second quarter. Westfield Capital Management Co. LP now owns 1,649,404 shares of the company’s stock valued at $60,682,000 after buying an additional 585,358 shares during the period. Finally, Vestal Point Capital LP purchased a new stake in shares of Revolution Medicines during the 2nd quarter valued at about $44,148,000. Hedge funds and other institutional investors own 94.34% of the company’s stock.

Insider Activity

In other Revolution Medicines news, CFO Jack Anders sold 10,000 shares of the company’s stock in a transaction dated Wednesday, January 7th. The shares were sold at an average price of $98.00, for a total transaction of $980,000.00. Following the sale, the chief financial officer directly owned 108,065 shares of the company’s stock, valued at approximately $10,590,370. This represents a 8.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Mark A. Goldsmith sold 15,394 shares of the firm’s stock in a transaction on Tuesday, December 16th. The shares were sold at an average price of $76.82, for a total value of $1,182,567.08. Following the completion of the sale, the insider owned 232,469 shares of the company’s stock, valued at approximately $17,858,268.58. This trade represents a 6.21% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 243,792 shares of company stock worth $19,757,740 over the last 90 days. 8.20% of the stock is currently owned by company insiders.

Revolution Medicines Stock Down 1.3%

Shares of RVMD stock opened at $96.95 on Friday. The stock’s 50 day simple moving average is $90.50 and its 200 day simple moving average is $61.91. The company has a debt-to-equity ratio of 0.16, a quick ratio of 8.05 and a current ratio of 8.05. Revolution Medicines, Inc. has a twelve month low of $29.17 and a twelve month high of $124.49. The company has a market capitalization of $18.74 billion, a price-to-earnings ratio of -18.75 and a beta of 0.99.

Revolution Medicines (NASDAQ:RVMD) last released its earnings results on Wednesday, November 5th. The company reported ($1.61) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.39) by ($0.22). During the same quarter in the previous year, the business earned ($0.94) earnings per share. As a group, research analysts predict that Revolution Medicines, Inc. will post -3.49 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on RVMD. Wedbush restated an “outperform” rating on shares of Revolution Medicines in a research note on Friday, January 9th. Mizuho assumed coverage on Revolution Medicines in a research report on Tuesday, October 21st. They set an “outperform” rating and a $90.00 price objective for the company. JPMorgan Chase & Co. raised their price target on shares of Revolution Medicines from $71.00 to $82.00 and gave the company an “overweight” rating in a research note on Thursday, November 6th. Raymond James Financial upped their price objective on shares of Revolution Medicines from $72.00 to $76.00 and gave the stock a “strong-buy” rating in a report on Friday, October 17th. Finally, Needham & Company LLC upped their target price on Revolution Medicines from $66.00 to $72.00 and gave the stock a “buy” rating in a research report on Thursday, November 6th. Four investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Revolution Medicines has a consensus rating of “Buy” and a consensus target price of $78.94.

About Revolution Medicines

Revolution Medicines is a clinical-stage biopharmaceutical company focused on discovering and developing small molecule therapies to treat RAS-dependent cancers and other diseases driven by the RAS/MAPK pathway. The company’s research efforts target historically “undruggable” proteins, aiming to inhibit critical nodes in cell signaling that promote tumor growth and therapeutic resistance.

The lead pipeline includes RMC-4630, a SHP2 inhibitor; RMC-6291, a selective KRAS G12C inhibitor; and RMC-6236, a pan-RAS inhibitor designed to address multiple RAS mutations.