Handelsbanken Fonder AB Has $4.32 Million Stake in Revolution Medicines, Inc. $RVMD

Handelsbanken Fonder AB trimmed its stake in Revolution Medicines, Inc. (NASDAQ:RVMD) by 7.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 54,175 shares of the company’s stock after selling 4,200 shares during the period. Handelsbanken Fonder AB’s holdings in Revolution Medicines were worth $4,315,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Signaturefd LLC grew its position in Revolution Medicines by 33.1% in the 4th quarter. Signaturefd LLC now owns 656 shares of the company’s stock worth $52,000 after purchasing an additional 163 shares during the last quarter. Allworth Financial LP grew its position in Revolution Medicines by 57.2% in the 4th quarter. Allworth Financial LP now owns 577 shares of the company’s stock worth $46,000 after purchasing an additional 210 shares during the last quarter. Farther Finance Advisors LLC grew its position in Revolution Medicines by 44.7% in the 4th quarter. Farther Finance Advisors LLC now owns 751 shares of the company’s stock worth $60,000 after purchasing an additional 232 shares during the last quarter. CWM LLC grew its position in Revolution Medicines by 51.6% in the 4th quarter. CWM LLC now owns 702 shares of the company’s stock worth $56,000 after purchasing an additional 239 shares during the last quarter. Finally, Public Employees Retirement System of Ohio grew its position in Revolution Medicines by 0.6% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 54,143 shares of the company’s stock worth $2,528,000 after purchasing an additional 336 shares during the last quarter. 94.34% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Mark A. Goldsmith sold 120,000 shares of Revolution Medicines stock in a transaction dated Wednesday, April 15th. The shares were sold at an average price of $150.09, for a total transaction of $18,010,800.00. Following the completion of the transaction, the insider directly owned 276,698 shares of the company’s stock, valued at $41,529,602.82. This trade represents a 30.25% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Stephen Michael Kelsey sold 4,302 shares of Revolution Medicines stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $99.48, for a total transaction of $427,962.96. Following the transaction, the insider directly owned 295,398 shares of the company’s stock, valued at $29,386,193.04. This represents a 1.44% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 184,592 shares of company stock worth $24,499,532 over the last ninety days. Corporate insiders own 8.20% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on RVMD shares. Benchmark restated an “overweight” rating on shares of Revolution Medicines in a research report on Tuesday, February 17th. Sanford C. Bernstein started coverage on shares of Revolution Medicines in a research report on Thursday. They set a “market perform” rating and a $151.00 target price on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Revolution Medicines in a research report on Tuesday, April 21st. Evercore reiterated an “outperform” rating on shares of Revolution Medicines in a research report on Tuesday, April 14th. Finally, Piper Sandler lifted their target price on shares of Revolution Medicines to $172.00 and gave the company an “overweight” rating in a research report on Thursday, May 7th. Three research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $111.35.

Revolution Medicines Trading Down 1.4%

Shares of RVMD stock opened at $151.56 on Friday. Revolution Medicines, Inc. has a 12-month low of $34.00 and a 12-month high of $156.25. The company has a market capitalization of $32.22 billion, a P/E ratio of -21.44 and a beta of 1.41. The firm has a 50-day moving average price of $123.75 and a 200 day moving average price of $101.21. The company has a quick ratio of 6.80, a current ratio of 6.80 and a debt-to-equity ratio of 0.19.

Revolution Medicines (NASDAQ:RVMD) last announced its quarterly earnings results on Wednesday, May 6th. The company reported ($2.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.83) by ($0.46). During the same quarter in the previous year, the company earned ($1.13) EPS. Research analysts forecast that Revolution Medicines, Inc. will post -7.75 earnings per share for the current fiscal year.

Revolution Medicines Company 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.