62,161 Shares in Revolution Medicines, Inc. (NASDAQ:RVMD) Bought by HealthInvest Partners AB

HealthInvest Partners AB purchased a new position in Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 62,161 shares of the company's stock, valued at approximately $2,683,000. Revolution Medicines comprises about 1.2% of HealthInvest Partners AB's holdings, making the stock its 24th largest holding.

A number of other institutional investors have also recently made changes to their positions in RVMD. Quarry LP bought a new position in shares of Revolution Medicines in the 3rd quarter worth $82,000. KBC Group NV boosted its stake in shares of Revolution Medicines by 12.9% in the 3rd quarter. KBC Group NV now owns 3,221 shares of the company's stock valued at $146,000 after purchasing an additional 368 shares in the last quarter. Avanza Fonder AB purchased a new stake in shares of Revolution Medicines in the 4th quarter valued at $173,000. Everence Capital Management Inc. purchased a new stake in shares of Revolution Medicines in the 4th quarter valued at $203,000. Finally, CIBC Asset Management Inc purchased a new stake in shares of Revolution Medicines in the 3rd quarter valued at $216,000. Institutional investors own 94.34% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on RVMD. UBS Group upped their price objective on shares of Revolution Medicines from $65.00 to $71.00 and gave the company a "buy" rating in a research note on Wednesday, January 8th. Stifel Nicolaus dropped their price target on shares of Revolution Medicines from $80.00 to $78.00 and set a "buy" rating for the company in a research report on Thursday. Piper Sandler raised their target price on shares of Revolution Medicines from $57.00 to $70.00 and gave the stock an "overweight" rating in a research report on Thursday, November 7th. JPMorgan Chase & Co. raised their target price on shares of Revolution Medicines from $63.00 to $71.00 and gave the stock an "overweight" rating in a research report on Tuesday, December 3rd. Finally, HC Wainwright raised their target price on shares of Revolution Medicines from $64.00 to $72.00 and gave the stock a "buy" rating in a research report on Wednesday, December 4th. Twelve equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $66.23.

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Revolution Medicines Price Performance

Shares of RVMD traded down $1.42 on Thursday, reaching $39.08. The company's stock had a trading volume of 2,141,487 shares, compared to its average volume of 1,309,121. The stock has a market capitalization of $6.57 billion, a P/E ratio of -10.89 and a beta of 1.45. The stock's 50 day simple moving average is $42.30 and its two-hundred day simple moving average is $46.24. Revolution Medicines, Inc. has a 12-month low of $29.00 and a 12-month high of $62.40.

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

Insider Buying and Selling at Revolution Medicines

In other news, CFO Jack Anders sold 2,635 shares of Revolution Medicines stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $45.40, for a total transaction of $119,629.00. Following the sale, the chief financial officer now owns 96,470 shares in the company, valued at $4,379,738. This trade represents a 2.66 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Thilo Schroeder acquired 1,304,347 shares of Revolution Medicines stock in a transaction dated Thursday, December 5th. The shares were bought at an average price of $46.00 per share, for a total transaction of $59,999,962.00. Following the transaction, the director now owns 2,096,612 shares of the company's stock, valued at approximately $96,444,152. The trade was a 164.64 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold 18,678 shares of company stock valued at $847,981 over the last 90 days. 8.00% of the stock is currently owned by corporate insiders.

About Revolution Medicines

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.