Handelsbanken Fonder AB lowered its stake in Revolution Medicines, Inc. (NASDAQ:RVMD – Get Rating) by 31.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,500 shares of the company's stock after selling 5,300 shares during the period. Handelsbanken Fonder AB's holdings in Revolution Medicines were worth $293,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also made changes to their positions in the business. Bellevue Group AG increased its holdings in shares of Revolution Medicines by 0.3% in the 4th quarter. Bellevue Group AG now owns 3,470,162 shares of the company's stock valued at $87,344,000 after acquiring an additional 11,357 shares during the last quarter. Nextech Invest AG purchased a new position in shares of Revolution Medicines in the 4th quarter valued at about $74,710,000. Woodline Partners LP increased its holdings in shares of Revolution Medicines by 237.0% in the 4th quarter. Woodline Partners LP now owns 2,930,038 shares of the company's stock valued at $73,749,000 after acquiring an additional 2,060,554 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Revolution Medicines by 4.6% in the 1st quarter. JPMorgan Chase & Co. now owns 1,340,615 shares of the company's stock valued at $34,200,000 after acquiring an additional 58,914 shares during the last quarter. Finally, DAFNA Capital Management LLC increased its holdings in shares of Revolution Medicines by 1.2% in the 4th quarter. DAFNA Capital Management LLC now owns 212,231 shares of the company's stock valued at $5,342,000 after acquiring an additional 2,500 shares during the last quarter. Hedge funds and other institutional investors own 86.70% of the company's stock.
Get Revolution Medicines alerts:Analysts Set New Price Targets
A number of research analysts recently issued reports on RVMD shares. SVB Leerink dropped their price target on Revolution Medicines from $31.00 to $30.00 and set an "outperform" rating on the stock in a research note on Wednesday, August 10th. HC Wainwright dropped their price target on Revolution Medicines from $40.00 to $37.00 and set a "buy" rating on the stock in a research note on Wednesday, August 17th. Finally, Bank of America started coverage on Revolution Medicines in a research note on Friday, May 20th. They set a "neutral" rating and a $24.00 price target on the stock.
Insider Activity
In other news, major shareholder Rock Ventures Iii L.P. Third sold 419,901 shares of the firm's stock in a transaction that occurred on Wednesday, June 8th. The stock was sold at an average price of $20.25, for a total value of $8,502,995.25. Following the completion of the sale, the insider now directly owns 5,104,130 shares of the company's stock, valued at approximately $103,358,632.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, major shareholder Rock Ventures Iii L.P. Third sold 419,901 shares of the firm's stock in a transaction that occurred on Wednesday, June 8th. The stock was sold at an average price of $20.25, for a total value of $8,502,995.25. Following the completion of the sale, the insider now directly owns 5,104,130 shares of the company's stock, valued at approximately $103,358,632.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Lorence H. Kim purchased 50,000 shares of Revolution Medicines stock in a transaction dated Friday, July 22nd. The stock was acquired at an average cost of $20.00 per share, with a total value of $1,000,000.00. Following the completion of the acquisition, the director now directly owns 60,500 shares in the company, valued at $1,210,000. The disclosure for this purchase can be found here. Insiders own 18.80% of the company's stock.Revolution Medicines Trading Down 1.2 %
Shares of RVMD stock opened at $21.34 on Friday. The business's 50 day moving average is $22.36 and its two-hundred day moving average is $20.83. Revolution Medicines, Inc. has a twelve month low of $14.08 and a twelve month high of $34.16. The company has a market capitalization of $1.87 billion, a P/E ratio of -7.13 and a beta of 1.69.
Revolution Medicines (NASDAQ:RVMD – Get Rating) last announced its earnings results on Tuesday, August 9th. The company reported ($0.82) earnings per share for the quarter, beating the consensus estimate of ($0.87) by $0.05. Revolution Medicines had a negative return on equity of 39.20% and a negative net margin of 823.65%. The company had revenue of $9.12 million for the quarter, compared to the consensus estimate of $8.75 million. As a group, equities analysts predict that Revolution Medicines, Inc. will post -3.33 earnings per share for the current fiscal year.
Revolution Medicines Profile
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Revolution Medicines, Inc, a clinical-stage precision oncology company, focuses on developing therapies to inhibit frontier targets in RAS-addicted cancers. The company is developing RMC-4630, an inhibitor of SHP2, which is in Phase 1/2 clinical trial for the treatment of solid tumors, such as gynecologic and colorectal cancer tumors.
Further Reading
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