Revolution Medicines, Inc. (NASDAQ:RVMD) Shares Bought by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Revolution Medicines, Inc. (NASDAQ:RVMD) by 18.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,818 shares of the company’s stock after purchasing an additional 3,133 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Revolution Medicines were worth $568,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Handelsbanken Fonder AB grew its position in Revolution Medicines by 6.0% during the third quarter. Handelsbanken Fonder AB now owns 14,200 shares of the company’s stock valued at $393,000 after buying an additional 800 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Revolution Medicines by 2.1% during the 3rd quarter. Bank of New York Mellon Corp now owns 420,366 shares of the company’s stock worth $11,636,000 after acquiring an additional 8,825 shares in the last quarter. Strs Ohio grew its position in shares of Revolution Medicines by 270.6% during the 3rd quarter. Strs Ohio now owns 6,300 shares of the company’s stock valued at $174,000 after acquiring an additional 4,600 shares during the period. TD Asset Management Inc increased its stake in shares of Revolution Medicines by 106.2% in the 3rd quarter. TD Asset Management Inc now owns 271,824 shares of the company’s stock valued at $7,524,000 after purchasing an additional 140,012 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. raised its holdings in Revolution Medicines by 101.1% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 2,802 shares of the company’s stock worth $78,000 after purchasing an additional 1,409 shares during the period. 94.34% of the stock is owned by hedge funds and other institutional investors.

Revolution Medicines Price Performance

Shares of Revolution Medicines stock opened at $38.82 on Thursday. The stock’s 50 day simple moving average is $32.84 and its 200-day simple moving average is $28.22. The stock has a market cap of $6.62 billion, a P/E ratio of -10.30 and a beta of 1.54. Revolution Medicines, Inc. has a 1-year low of $15.44 and a 1-year high of $39.49.

Revolution Medicines (NASDAQ:RVMD) last issued its earnings results on Monday, February 26th. The company reported ($1.14) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.85) by ($0.29). The business had revenue of $0.74 million during the quarter, compared to the consensus estimate of $1.20 million. During the same period in the prior year, the firm posted ($0.63) EPS. The firm’s quarterly revenue was down 95.2% compared to the same quarter last year. As a group, research analysts expect that Revolution Medicines, Inc. will post -3.18 EPS for the current fiscal year.

Analysts Set New Price Targets

RVMD has been the subject of a number of recent analyst reports. Needham & Company LLC restated a “buy” rating and issued a $46.00 price objective (up from $36.00) on shares of Revolution Medicines in a research report on Monday, April 8th. Oppenheimer boosted their price target on shares of Revolution Medicines from $43.00 to $45.00 and gave the stock an “outperform” rating in a report on Friday, April 12th. Piper Sandler assumed coverage on shares of Revolution Medicines in a report on Monday, March 11th. They set an “overweight” rating and a $43.00 price objective on the stock. Bank of America raised shares of Revolution Medicines from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $31.00 to $34.00 in a research note on Friday, January 5th. Finally, Raymond James raised shares of Revolution Medicines from an “outperform” rating to a “strong-buy” rating and raised their price target for the company from $36.00 to $48.00 in a research note on Wednesday, April 10th. Nine research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $41.20.

Insider Activity at Revolution Medicines

In other Revolution Medicines news, General Counsel Jeff Cislini sold 1,252 shares of Revolution Medicines stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $31.58, for a total transaction of $39,538.16. Following the transaction, the general counsel now directly owns 55,874 shares of the company’s stock, valued at $1,764,500.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Sushil Patel sold 2,155 shares of the stock in a transaction on Wednesday, April 10th. The stock was sold at an average price of $37.00, for a total transaction of $79,735.00. Following the completion of the transaction, the director now directly owns 15,700 shares in the company, valued at approximately $580,900. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, General Counsel Jeff Cislini sold 1,252 shares of the business’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $31.58, for a total transaction of $39,538.16. Following the completion of the sale, the general counsel now owns 55,874 shares in the company, valued at $1,764,500.92. The disclosure for this sale can be found here. Over the last quarter, insiders sold 18,705 shares of company stock valued at $630,749. 8.50% of the stock is owned by company insiders.

Revolution Medicines Profile

Revolution Medicines, Inc, a clinical-stage precision oncology company, develops novel targeted therapies for RAS-addicted cancers. The company's research and development pipeline comprises RAS(ON) inhibitors designed to be used as monotherapy in combination with other RAS(ON) inhibitors and/or in combination with RAS companion inhibitors or other therapeutic agents, and RAS companion inhibitors for combination treatment strategies.