Revolution Medicines, Inc. $RVMD Shares Bought by Hsbc Holdings PLC

Hsbc Holdings PLC grew its stake in Revolution Medicines, Inc. (NASDAQ:RVMD) by 1,055.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 32,791 shares of the company’s stock after purchasing an additional 29,953 shares during the quarter. Hsbc Holdings PLC’s holdings in Revolution Medicines were worth $3,192,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Vanguard Group Inc. raised its position in shares of Revolution Medicines by 6.7% during the 4th quarter. Vanguard Group Inc. now owns 16,719,886 shares of the company’s stock worth $1,331,739,000 after purchasing an additional 1,056,792 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in Revolution Medicines by 8.3% in the 4th quarter. Janus Henderson Group PLC now owns 12,303,502 shares of the company’s stock worth $980,036,000 after buying an additional 947,448 shares during the last quarter. Nextech Invest Ltd. increased its stake in Revolution Medicines by 20.7% during the 4th quarter. Nextech Invest Ltd. now owns 7,601,087 shares of the company’s stock worth $332,472,000 after buying an additional 1,304,347 shares in the last quarter. Paradigm Biocapital Advisors LP increased its stake in Revolution Medicines by 6.8% during the 4th quarter. Paradigm Biocapital Advisors LP now owns 6,644,403 shares of the company’s stock worth $529,227,000 after buying an additional 421,112 shares in the last quarter. Finally, Bellevue Group AG raised its holdings in shares of Revolution Medicines by 21.7% during the third quarter. Bellevue Group AG now owns 5,573,838 shares of the company’s stock valued at $260,298,000 after acquiring an additional 994,538 shares during the last quarter. Hedge funds and other institutional investors own 94.34% of the company’s stock.

Revolution Medicines Stock Up 0.3%

Shares of NASDAQ:RVMD opened at $189.23 on Friday. Revolution Medicines, Inc. has a 52-week low of $34.00 and a 52-week high of $193.82. The stock has a market cap of $40.23 billion, a P/E ratio of -26.77 and a beta of 1.37. The business has a fifty day moving average of $168.87 and a two-hundred day moving average of $131.73. 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 posted its quarterly earnings results on Wednesday, May 6th. The company reported ($2.29) earnings per share for the quarter, missing the consensus estimate of ($1.83) by ($0.46). During the same quarter last year, the firm earned ($1.13) EPS. On average, research analysts expect that Revolution Medicines, Inc. will post -7.9 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Sanford C. Bernstein initiated coverage on Revolution Medicines in a research note on Thursday, May 21st. They issued a “market perform” rating and a $151.00 price target on the stock. Royal Bank Of Canada raised their price objective on Revolution Medicines from $165.00 to $182.00 and gave the company an “outperform” rating in a report on Tuesday, June 2nd. HC Wainwright reaffirmed a “buy” rating and set a $195.00 target price on shares of Revolution Medicines in a research note on Monday, July 6th. Evercore reaffirmed an “outperform” rating on shares of Revolution Medicines in a report on Tuesday, April 14th. Finally, Stifel Nicolaus reiterated a “buy” rating on shares of Revolution Medicines in a research report on Monday, April 20th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $144.67.

Insider Buying and Selling

In other Revolution Medicines news, COO Margaret A. Horn sold 60,400 shares of Revolution Medicines stock in a transaction on Monday, June 15th. The stock was sold at an average price of $160.17, for a total value of $9,674,268.00. Following the sale, the chief operating officer owned 158,222 shares in the company, valued at $25,342,417.74. The trade was a 27.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Jack Anders sold 20,000 shares of the company’s stock in a transaction on Wednesday, June 24th. The shares were sold at an average price of $168.33, for a total value of $3,366,600.00. Following the completion of the transaction, the chief financial officer directly owned 123,269 shares in the company, valued at approximately $20,749,870.77. This trade represents a 13.96% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 132,497 shares of company stock valued at $21,470,486 in the last ninety days. Company 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.