Revolution Medicines, Inc. $RVMD Stock: Robeco Institutional Asset Management B.V. Boosts Position

Robeco Institutional Asset Management B.V. boosted its holdings in shares of Revolution Medicines, Inc. (NASDAQ:RVMD) by 439.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 22,319 shares of the company’s stock after acquiring an additional 18,179 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in Revolution Medicines were worth $4,581,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Alphabet Inc. purchased a new position in Revolution Medicines during the second quarter worth $551,843,000. Assenagon Asset Management S.A. boosted its stake in shares of Revolution Medicines by 987.9% during the 3rd quarter. Assenagon Asset Management S.A. now owns 2,181,185 shares of the company’s stock worth $447,710,000 after purchasing an additional 1,980,699 shares during the last quarter. Bank of America Corp DE acquired a new stake in shares of Revolution Medicines during the 2nd quarter worth about $184,267,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Revolution Medicines by 82.3% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 912,335 shares of the company’s stock worth $170,862,000 after buying an additional 411,740 shares in the last quarter. Finally, Deutsche Bank AG purchased a new stake in shares of Revolution Medicines during the second quarter worth about $166,308,000. Hedge funds and other institutional investors own 94.34% of the company’s stock.

Insider Activity at Revolution Medicines

In other news, insider Alan B. Sandler sold 6,309 shares of the business’s stock in a transaction on Tuesday, September 29th. The shares were sold at an average price of $202.14, for a total transaction of $1,275,301.26. Following the completion of the sale, the insider directly owned 52,559 shares of the company’s stock, valued at $10,624,276.26. The trade was a 10.72% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, 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 transaction of $16,736,000.00. Following the sale, the insider directly owned 267,330 shares of the company’s stock, valued at $55,925,436. This represents a 23.03% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 290,991 shares of company stock valued at $59,422,765 over the last 90 days. 7.60% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research firms have recently weighed in on RVMD. Bank of America cut their price objective on shares of Revolution Medicines from $265.00 to $264.00 and set a “buy” rating for the company in a research report on Friday, October 9th. Weiss Ratings restated a “sell (d-)” rating on shares of Revolution Medicines in a research report on Thursday, October 15th. Truist Financial lifted their target price on shares of Revolution Medicines from $240.00 to $241.00 and gave the stock a “buy” rating in a research note on Monday, October 19th. HC Wainwright boosted their price target on Revolution Medicines from $195.00 to $280.00 and gave the company a “buy” rating in a report on Thursday, August 27th. Finally, Sanford C. Bernstein increased their price target on Revolution Medicines from $151.00 to $179.00 and gave the stock a “market perform” rating in a research note on Friday, August 21st. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $242.90.

Revolution Medicines Trading Down 0.4%

NASDAQ RVMD opened at $186.99 on Friday. The company has a market cap of $40.08 billion, a P/E ratio of -21.20 and a beta of 1.40. Revolution Medicines, Inc. has a 12 month low of $53.67 and a 12 month high of $224.31. The company has a debt-to-equity ratio of 0.40, a current ratio of 11.38 and a quick ratio of 11.38. The company has a 50-day moving average of $201.70 and a 200-day moving average of $176.65.

Revolution Medicines (NASDAQ:RVMD) last released its earnings results on Wednesday, August 5th. The company reported ($3.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.04) by ($1.02). During the same period last year, the business earned ($1.31) EPS. As a group, equities analysts predict that Revolution Medicines, Inc. will post -8.94 earnings per share for the current year.

Revolution Medicines Company Profile

Revolution Medicines, Inc is a clinical-stage biopharmaceutical company focused on developing targeted therapies for patients with RAS-mutant cancers. The company’s research platform is designed to discover and develop medicines that inhibit RAS proteins, which play a central role in the growth and spread of many cancers and have historically been difficult to target.

Its investigational pipeline includes RAS(ON) inhibitors and other precision oncology candidates, including daraxonrasib (RMC-6236), a pan-RAS inhibitor being evaluated in multiple solid tumors, as well as programs directed at specific mutations such as KRAS G12C and KRAS G12D.