Revolution Medicines, Inc. $RVMD Shares Acquired by KBC Group NV

KBC Group NV increased its position in shares of Revolution Medicines, Inc. (NASDAQ:RVMD) by 266.6% in the 1st quarter, HoldingsChannel.com reports. The firm owned 15,395 shares of the company’s stock after acquiring an additional 11,196 shares during the period. KBC Group NV’s holdings in Revolution Medicines were worth $1,497,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Global Retirement Partners LLC increased its position in shares of Revolution Medicines by 1,002.8% in the fourth quarter. Global Retirement Partners LLC now owns 397 shares of the company’s stock valued at $32,000 after buying an additional 361 shares in the last quarter. Indiana Trust & Investment Management Co acquired a new position in shares of Revolution Medicines during the 4th quarter worth $32,000. Torren Management LLC purchased a new stake in shares of Revolution Medicines in the 4th quarter worth about $33,000. Arax Advisory Partners purchased a new stake in shares of Revolution Medicines in the 4th quarter worth about $38,000. Finally, Darwin Wealth Management LLC acquired a new stake in Revolution Medicines in the 4th quarter valued at about $40,000. Institutional investors and hedge funds own 94.34% of the company’s stock.

Insider Buying and Selling at Revolution Medicines

In related news, Director Sushil Patel sold 5,580 shares of the firm’s stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $187.99, for a total transaction of $1,048,984.20. Following the sale, the director owned 21,656 shares in the company, valued at approximately $4,071,111.44. This trade represents a 20.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Stephen Michael Kelsey sold 4,175 shares of Revolution Medicines stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $156.12, for a total transaction of $651,801.00. Following the completion of the sale, the insider directly owned 291,876 shares of the company’s stock, valued at $45,567,681.12. The trade was a 1.41% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders sold 132,497 shares of company stock valued at $21,470,486. Corporate insiders own 7.60% of the company’s stock.

Revolution Medicines Trading Up 0.3%

Revolution Medicines stock opened at $189.23 on Friday. The stock has a market cap of $40.23 billion, a PE ratio of -26.77 and a beta of 1.37. The stock has a 50-day moving average price of $168.87 and a 200 day moving average price of $131.73. Revolution Medicines, Inc. has a 52 week low of $34.00 and a 52 week high of $193.82. The company has a current ratio of 6.80, a quick ratio of 6.80 and a debt-to-equity ratio of 0.19.

Revolution Medicines (NASDAQ:RVMD) last announced its earnings results on Wednesday, May 6th. The company reported ($2.29) earnings per share for the quarter, missing the consensus estimate of ($1.83) by ($0.46). During the same quarter in the previous year, the business earned ($1.13) EPS. Equities research analysts predict that Revolution Medicines, Inc. will post -7.91 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on RVMD. Royal Bank Of Canada raised their target price on shares of Revolution Medicines from $165.00 to $182.00 and gave the company an “outperform” rating in a report on Tuesday, June 2nd. HC Wainwright reaffirmed a “buy” rating and issued a $195.00 price target on shares of Revolution Medicines in a report on Monday, July 6th. Guggenheim increased their price target on shares of Revolution Medicines from $205.00 to $235.00 and gave the company a “buy” rating in a research report on Thursday, July 9th. Needham & Company LLC raised their price objective on shares of Revolution Medicines from $235.00 to $236.00 and gave the stock a “buy” rating in a research note on Monday, July 20th. Finally, Oppenheimer lifted their price objective on Revolution Medicines from $165.00 to $195.00 and gave the stock an “outperform” rating in a research report on Monday, June 1st. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Revolution Medicines currently has an average rating of “Moderate Buy” and an average target price of $144.67.

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.