PensionDanmark Pensionsforsikringsaktieselskab Purchases Shares of 4,000 Revolution Medicines, Inc. $RVMD

PensionDanmark Pensionsforsikringsaktieselskab acquired a new stake in Revolution Medicines, Inc. (NASDAQ:RVMD) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,000 shares of the company’s stock, valued at approximately $749,000.

Other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of Revolution Medicines by 6.7% during the fourth 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 period. Janus Henderson Group PLC increased 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 period. Nextech Invest Ltd. raised its position 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 during the last quarter. Paradigm Biocapital Advisors LP raised its position 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 during the last quarter. Finally, Bellevue Group AG lifted its stake in Revolution Medicines by 21.7% during the 3rd 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 period. 94.34% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Revolution Medicines news, insider Stephen Michael Kelsey sold 4,175 shares of the stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $156.12, for a total value of $651,801.00. Following the completion of the sale, the insider owned 291,876 shares in the company, valued at approximately $45,567,681.12. This represents a 1.41% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Margaret A. Horn sold 60,400 shares of the firm’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $160.17, for a total transaction of $9,674,268.00. Following the completion of the transaction, the chief operating officer directly owned 158,222 shares in the company, valued at $25,342,417.74. This trade represents a 27.63% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 132,497 shares of company stock valued at $21,470,486 in the last ninety days. 7.60% of the stock is currently owned by corporate insiders.

Revolution Medicines Stock Up 0.9%

RVMD opened at $206.97 on Tuesday. The company has a market cap of $44.36 billion, a PE ratio of -23.47 and a beta of 1.39. The company has a 50-day moving average price of $177.53 and a 200 day moving average price of $138.22. Revolution Medicines, Inc. has a twelve month low of $34.14 and a twelve month high of $208.76. The company has a quick ratio of 11.38, a current ratio of 11.38 and a debt-to-equity ratio of 0.40.

Revolution Medicines (NASDAQ:RVMD) last issued its quarterly earnings results on Wednesday, August 5th. The company reported ($3.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($2.04) by ($1.02). During the same period in the previous year, the business earned ($1.31) earnings per share. Sell-side analysts expect that Revolution Medicines, Inc. will post -8.19 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently commented on RVMD shares. Royal Bank Of Canada upped their price objective on shares of Revolution Medicines from $182.00 to $203.00 and gave the company an “outperform” rating in a report on Thursday. Needham & Company LLC raised their target price on shares of Revolution Medicines from $236.00 to $240.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. HC Wainwright restated a “buy” rating and set a $195.00 target price on shares of Revolution Medicines in a research report on Monday, July 6th. Mizuho upped their price target on shares of Revolution Medicines from $185.00 to $215.00 and gave the company an “outperform” rating in a report on Monday, July 6th. Finally, Guggenheim increased their price target on Revolution Medicines from $235.00 to $240.00 and gave the stock a “buy” rating in a research report on Thursday. One analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Revolution Medicines presently has a consensus rating of “Moderate Buy” and a consensus target price of $160.68.

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.