Danske Bank A S Makes New $14.83 Million Investment in Revolution Medicines, Inc. $RVMD

Danske Bank A S acquired a new stake in shares of Revolution Medicines, Inc. (NASDAQ:RVMD) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 79,200 shares of the company’s stock, valued at approximately $14,833,000.

Several other institutional investors have also modified their holdings of the stock. Wealthfront Advisers LLC bought a new position in shares of Revolution Medicines during the 2nd quarter valued at approximately $320,000. Meeder Advisory Services Inc. bought a new position in Revolution Medicines during the second quarter valued at $735,000. Citizens Financial Group Inc. RI bought a new position in Revolution Medicines during the second quarter valued at $13,865,000. Deutsche Bank AG purchased a new stake in shares of Revolution Medicines in the second quarter valued at $166,308,000. Finally, Alphabet Inc. purchased a new stake in shares of Revolution Medicines in the second quarter valued at $551,843,000. 94.34% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently issued reports on RVMD. Weiss Ratings restated a “sell (d-)” rating on shares of Revolution Medicines in a report on Friday, July 17th. Mizuho increased their price objective on shares of Revolution Medicines from $185.00 to $215.00 and gave the stock an “outperform” rating in a research report on Monday, July 6th. Sanford C. Bernstein assumed coverage on shares of Revolution Medicines in a research note on Thursday, May 21st. They issued a “market perform” rating and a $151.00 price objective for the company. Evercore restated an “outperform” rating and set a $230.00 target price on shares of Revolution Medicines in a research report on Thursday, August 6th. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $230.00 target price on shares of Revolution Medicines in a research note on Thursday, August 6th. One research analyst has 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 stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $166.33.

Revolution Medicines Trading Down 1.4%

NASDAQ RVMD opened at $211.74 on Friday. The stock has a market cap of $45.38 billion, a PE ratio of -24.01 and a beta of 1.39. Revolution Medicines, Inc. has a 12 month low of $35.42 and a 12 month high of $220.34. The company’s 50-day moving average price is $186.87 and its 200-day moving average price is $144.05. The company has a current ratio of 11.38, a quick ratio of 11.38 and a debt-to-equity ratio of 0.40.

Revolution Medicines (NASDAQ:RVMD) last released its quarterly earnings data 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 quarter in the prior year, the firm earned ($1.31) EPS. Equities research analysts forecast that Revolution Medicines, Inc. will post -8.82 earnings per share for the current year.

Insider Transactions at Revolution Medicines

In other Revolution Medicines news, CFO Jack Anders sold 20,000 shares of the firm’s stock in a transaction on Wednesday, June 24th. The stock was 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 $20,749,870.77. This trade represents a 13.96% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Stephen Michael Kelsey sold 4,175 shares of Revolution Medicines stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $156.12, for a total value of $651,801.00. Following the sale, the insider directly owned 291,876 shares of the company’s stock, valued at approximately $45,567,681.12. This trade represents a 1.41% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 132,497 shares of company stock valued at $21,470,486 in the last ninety days. Corporate insiders own 7.60% of the company’s stock.

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.