Candriam S.C.A. Grows Holdings in Revolution Medicines, Inc. $RVMD

Candriam S.C.A. increased its holdings in shares of Revolution Medicines, Inc. (NASDAQ:RVMD) by 20.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 868,724 shares of the company’s stock after purchasing an additional 149,211 shares during the period. Candriam S.C.A.’s holdings in Revolution Medicines were worth $40,569,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. GAMMA Investing LLC increased its stake in Revolution Medicines by 45.1% in the third quarter. GAMMA Investing LLC now owns 837 shares of the company’s stock valued at $39,000 after purchasing an additional 260 shares during the period. California State Teachers Retirement System grew its holdings in shares of Revolution Medicines by 0.3% during the second quarter. California State Teachers Retirement System now owns 140,077 shares of the company’s stock worth $5,153,000 after buying an additional 437 shares during the last quarter. CWM LLC increased its position in Revolution Medicines by 171.3% in the 2nd quarter. CWM LLC now owns 917 shares of the company’s stock valued at $34,000 after acquiring an additional 579 shares during the period. Arizona State Retirement System increased its position in Revolution Medicines by 1.6% in the 3rd quarter. Arizona State Retirement System now owns 41,299 shares of the company’s stock valued at $1,929,000 after acquiring an additional 646 shares during the period. Finally, Avanza Fonder AB raised its stake in Revolution Medicines by 17.5% during the 3rd quarter. Avanza Fonder AB now owns 4,335 shares of the company’s stock valued at $202,000 after acquiring an additional 647 shares during the last quarter. 94.34% of the stock is owned by hedge funds and other institutional investors.

Revolution Medicines Price Performance

Shares of NASDAQ RVMD opened at $97.49 on Monday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 8.05 and a current ratio of 8.05. Revolution Medicines, Inc. has a one year low of $29.17 and a one year high of $124.49. The firm has a market capitalization of $18.85 billion, a P/E ratio of -18.86 and a beta of 1.01. The company’s fifty day moving average is $92.51 and its two-hundred day moving average is $64.13.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Wedbush reiterated an “outperform” rating on shares of Revolution Medicines in a research report on Friday, January 9th. Raymond James Financial raised their target price on shares of Revolution Medicines from $72.00 to $76.00 and gave the stock a “strong-buy” rating in a research note on Friday, October 17th. Needham & Company LLC lifted their target price on shares of Revolution Medicines from $66.00 to $72.00 and gave the company a “buy” rating in a report on Thursday, November 6th. National Bankshares set a $80.00 price target on shares of Revolution Medicines in a research note on Friday, October 17th. Finally, HC Wainwright raised their price objective on shares of Revolution Medicines from $72.00 to $73.00 and gave the company a “buy” rating in a research report on Thursday, November 6th. Four research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $78.94.

Insider Activity at Revolution Medicines

In other Revolution Medicines news, CFO Jack Anders sold 10,000 shares of the company’s stock in a transaction dated Wednesday, January 7th. The shares were sold at an average price of $98.00, for a total transaction of $980,000.00. Following the transaction, the chief financial officer directly owned 108,065 shares in the company, valued at approximately $10,590,370. This represents a 8.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Stephen Michael Kelsey sold 5,447 shares of the stock in a transaction dated Tuesday, December 16th. The shares were sold at an average price of $76.82, for a total transaction of $418,438.54. Following the completion of the transaction, the insider directly owned 278,600 shares of the company’s stock, valued at approximately $21,402,052. This trade represents a 1.92% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 213,792 shares of company stock worth $17,948,440 in the last ninety days. Corporate insiders own 8.20% of the company’s stock.

Revolution Medicines Profile

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.