Swiss National Bank Grows Position in Revolution Medicines, Inc. (NASDAQ:RVMD)

Swiss National Bank raised its position in shares of Revolution Medicines, Inc. (NASDAQ:RVMD) by 20.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 276,531 shares of the company’s stock after buying an additional 46,600 shares during the quarter. Swiss National Bank owned about 0.15% of Revolution Medicines worth $9,778,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Revolution Medicines by 11.0% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,221 shares of the company’s stock valued at $232,000 after purchasing an additional 615 shares during the last quarter. Russell Investments Group Ltd. lifted its stake in shares of Revolution Medicines by 11.4% in the 4th quarter. Russell Investments Group Ltd. now owns 4,243 shares of the company’s stock valued at $186,000 after purchasing an additional 434 shares during the last quarter. SG Americas Securities LLC lifted its stake in shares of Revolution Medicines by 516.0% in the 1st quarter. SG Americas Securities LLC now owns 18,103 shares of the company’s stock valued at $640,000 after purchasing an additional 15,164 shares during the last quarter. Wells Fargo & Company MN lifted its stake in shares of Revolution Medicines by 51.8% in the 4th quarter. Wells Fargo & Company MN now owns 88,327 shares of the company’s stock valued at $3,863,000 after purchasing an additional 30,155 shares during the last quarter. Finally, Baker BROS. Advisors LP lifted its stake in shares of Revolution Medicines by 4.9% in the 4th quarter. Baker BROS. Advisors LP now owns 7,936,972 shares of the company’s stock valued at $347,163,000 after purchasing an additional 367,882 shares during the last quarter. Hedge funds and other institutional investors own 94.34% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on RVMD shares. Wedbush reaffirmed an “outperform” rating and issued a $73.00 price objective (up from $67.00) on shares of Revolution Medicines in a research note on Tuesday, June 24th. Needham & Company LLC lowered their price objective on Revolution Medicines from $57.00 to $56.00 and set a “buy” rating for the company in a research note on Thursday, August 7th. HC Wainwright reaffirmed a “buy” rating and issued a $72.00 price objective (down from $73.00) on shares of Revolution Medicines in a research note on Wednesday, May 14th. Oppenheimer raised their price objective on Revolution Medicines from $70.00 to $75.00 and gave the company an “outperform” rating in a research note on Thursday, May 8th. Finally, Guggenheim reaffirmed a “buy” rating and issued a $80.00 price objective on shares of Revolution Medicines in a research note on Wednesday, June 25th. Twelve equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $68.67.

Revolution Medicines Price Performance

Shares of RVMD stock opened at $36.32 on Friday. Revolution Medicines, Inc. has a 52-week low of $29.17 and a 52-week high of $62.40. The company has a debt-to-equity ratio of 0.13, a quick ratio of 11.79 and a current ratio of 11.79. The firm has a market capitalization of $6.79 billion, a P/E ratio of -8.07 and a beta of 1.16. The stock has a 50 day moving average price of $37.93 and a 200 day moving average price of $38.59.

Revolution Medicines (NASDAQ:RVMD) last released its quarterly earnings data on Wednesday, August 6th. The company reported ($1.31) EPS for the quarter, missing the consensus estimate of ($0.94) by ($0.37). The firm’s revenue was up .0% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.81) earnings per share. As a group, sell-side analysts predict that Revolution Medicines, Inc. will post -3.49 earnings per share for the current year.

About Revolution Medicines

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.