Raiffeisen Bank International AG Decreases Stake in Revolution Medicines, Inc. $RVMD

Raiffeisen Bank International AG cut its stake in shares of Revolution Medicines, Inc. (NASDAQ:RVMD) by 22.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,101 shares of the company’s stock after selling 5,899 shares during the quarter. Raiffeisen Bank International AG’s holdings in Revolution Medicines were worth $3,872,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in RVMD. Alphabet Inc. purchased a new position in Revolution Medicines in the 2nd quarter worth $551,843,000. Norges Bank purchased a new stake in Revolution Medicines during the 4th quarter valued at about $195,568,000. Avoro Capital Advisors LLC acquired a new position in shares of Revolution Medicines in the fourth quarter valued at about $172,840,000. Polar Capital Holdings Plc increased its holdings in shares of Revolution Medicines by 321.2% in the fourth quarter. Polar Capital Holdings Plc now owns 2,013,791 shares of the company’s stock valued at $160,398,000 after purchasing an additional 1,535,686 shares during the period. Finally, Adage Capital Partners GP L.L.C. raised its stake in shares of Revolution Medicines by 197.1% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 2,205,555 shares of the company’s stock worth $175,672,000 after purchasing an additional 1,463,155 shares during the last quarter. 94.34% of the stock is owned by institutional investors and hedge funds.

Revolution Medicines Stock Performance

Shares of RVMD stock opened at $210.02 on Friday. Revolution Medicines, Inc. has a 52-week low of $39.17 and a 52-week high of $224.31. The company has a quick ratio of 11.38, a current ratio of 11.38 and a debt-to-equity ratio of 0.40. The stock has a market cap of $45.02 billion, a PE ratio of -23.81 and a beta of 1.40. The business has a 50-day simple moving average of $196.93 and a 200-day simple moving average of $152.51.

Revolution Medicines (NASDAQ:RVMD) last posted its earnings results on Wednesday, August 5th. The company reported ($3.06) EPS for the quarter, missing the consensus estimate of ($2.04) by ($1.02). During the same period in the previous year, the business earned ($1.31) earnings per share. On average, equities analysts expect that Revolution Medicines, Inc. will post -8.83 EPS for the current year.

Insiders Place Their Bets

In related news, insider Mark A. Goldsmith sold 80,000 shares of the business’s stock in a transaction on Friday, August 21st. The shares were sold at an average price of $209.20, for a total value of $16,736,000.00. Following the completion of the transaction, the insider directly owned 267,330 shares in the company, valued at $55,925,436. The trade was a 23.03% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Margaret A. Horn sold 29,600 shares of the business’s stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $160.12, for a total transaction of $4,739,552.00. Following the completion of the transaction, the chief operating officer owned 154,647 shares of the company’s stock, valued at approximately $24,762,077.64. This represents a 16.07% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders have sold 268,497 shares of company stock worth $49,587,926. Corporate insiders own 7.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on RVMD shares. Oppenheimer lifted their target price on Revolution Medicines from $230.00 to $260.00 and gave the stock an “outperform” rating in a report on Thursday, August 27th. Wolfe Research reissued an “outperform” rating and set a $220.00 price target on shares of Revolution Medicines in a research report on Monday, August 10th. Truist Financial lifted their price objective on shares of Revolution Medicines from $231.00 to $239.00 and gave the company a “buy” rating in a research note on Thursday, August 27th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Revolution Medicines in a report on Friday, July 17th. Finally, Guggenheim upped their price objective on shares of Revolution Medicines from $240.00 to $275.00 and gave the company a “buy” rating in a report on Friday, August 28th. Two analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Revolution Medicines currently has an average rating of “Moderate Buy” and a consensus target price of $200.74.

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.