Raiffeisen Bank International AG Lowers Stock Holdings in Revolution Medicines, Inc. $RVMD

Raiffeisen Bank International AG reduced its holdings in Revolution Medicines, Inc. (NASDAQ:RVMD) by 22.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 20,101 shares of the company’s stock after selling 5,899 shares during the period. Raiffeisen Bank International AG’s holdings in Revolution Medicines were worth $3,872,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in RVMD. Concurrent Investment Advisors LLC acquired a new position in shares of Revolution Medicines during the 2nd quarter worth approximately $475,000. High Net Worth Advisory Group LLC purchased a new position in shares of Revolution Medicines during the 2nd quarter valued at approximately $375,000. Nykredit A S acquired a new stake in Revolution Medicines in the 2nd quarter valued at $9,863,000. B. Metzler seel. Sohn & Co. AG grew its stake in Revolution Medicines by 12.8% in the 2nd quarter. B. Metzler seel. Sohn & Co. AG now owns 13,605 shares of the company’s stock valued at $2,548,000 after acquiring an additional 1,547 shares during the period. Finally, Moore Capital Management LP grew its stake in Revolution Medicines by 46.9% in the 2nd quarter. Moore Capital Management LP now owns 81,700 shares of the company’s stock valued at $15,301,000 after acquiring an additional 26,100 shares during the period. 94.34% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on RVMD shares. TD Cowen upgraded shares of Revolution Medicines to a “strong-buy” rating in a research report on Monday, August 24th. Royal Bank Of Canada lifted their target price on shares of Revolution Medicines from $203.00 to $251.00 and gave the company an “outperform” rating in a research report on Thursday, August 27th. Truist Financial boosted their target price on shares of Revolution Medicines from $231.00 to $239.00 and gave the stock a “buy” rating in a research note on Thursday, August 27th. HC Wainwright upped their price target on shares of Revolution Medicines from $195.00 to $280.00 and gave the stock a “buy” rating in a research report on Thursday, August 27th. Finally, Wolfe Research reaffirmed an “outperform” rating and issued a $220.00 price target on shares of Revolution Medicines in a research note on Monday, August 10th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Revolution Medicines currently has a consensus rating of “Moderate Buy” and an average target price of $200.74.

Insiders Place Their Bets

In related news, CFO Jack Anders sold 20,000 shares of the business’s stock in a transaction dated Wednesday, June 24th. The shares were sold at an average price of $168.33, for a total transaction of $3,366,600.00. Following the transaction, the chief financial officer directly owned 123,269 shares in the company, valued at approximately $20,749,870.77. The trade was a 13.96% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Sushil Patel sold 5,580 shares of the company’s stock in a transaction dated 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 directly owned 21,656 shares of the company’s stock, valued at approximately $4,071,111.44. This represents a 20.49% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 268,497 shares of company stock valued at $49,587,926. Corporate insiders own 7.60% of the company’s stock.

Revolution Medicines Stock Down 0.4%

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

Revolution Medicines (NASDAQ:RVMD) last posted its quarterly earnings data 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 quarter in the previous year, the business earned ($1.31) earnings per share. Equities research analysts forecast that Revolution Medicines, Inc. will post -8.83 earnings per share for the current fiscal year.

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.