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

Zurcher Kantonalbank Zurich Cantonalbank grew its position in Revolution Medicines, Inc. (NASDAQ:RVMD) by 48.2% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 24,562 shares of the company’s stock after purchasing an additional 7,994 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Revolution Medicines were worth $953,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. Legato Capital Management LLC acquired a new stake in Revolution Medicines in the 2nd quarter valued at approximately $784,000. Bank of New York Mellon Corp raised its stake in shares of Revolution Medicines by 21.9% during the second quarter. Bank of New York Mellon Corp now owns 645,253 shares of the company’s stock valued at $25,042,000 after purchasing an additional 115,844 shares in the last quarter. Nisa Investment Advisors LLC lifted its holdings in Revolution Medicines by 10.5% in the second quarter. Nisa Investment Advisors LLC now owns 3,378 shares of the company’s stock worth $131,000 after purchasing an additional 320 shares during the period. Raymond James & Associates grew its position in Revolution Medicines by 196.4% in the 2nd quarter. Raymond James & Associates now owns 74,370 shares of the company’s stock valued at $2,886,000 after buying an additional 49,275 shares in the last quarter. Finally, Clear Harbor Asset Management LLC increased its stake in Revolution Medicines by 10.2% during the 2nd quarter. Clear Harbor Asset Management LLC now owns 11,224 shares of the company’s stock valued at $436,000 after buying an additional 1,036 shares during the period. Institutional investors own 94.34% of the company’s stock.

Insider Activity at Revolution Medicines

In other Revolution Medicines news, insider Mark A. Goldsmith sold 10,000 shares of the firm’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $45.88, for a total transaction of $458,800.00. Following the completion of the sale, the insider now directly owns 311,885 shares in the company, valued at approximately $14,309,283.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Revolution Medicines news, insider Mark A. Goldsmith sold 10,000 shares of the stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $45.88, for a total value of $458,800.00. Following the completion of the sale, the insider now owns 311,885 shares in the company, valued at approximately $14,309,283.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Sushil Patel sold 2,155 shares of the business’s stock in a transaction on Tuesday, July 9th. The shares were sold at an average price of $44.00, for a total transaction of $94,820.00. Following the transaction, the director now owns 19,948 shares in the company, valued at $877,712. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 58,421 shares of company stock valued at $2,637,077. Company insiders own 8.00% of the company’s stock.

Revolution Medicines Trading Down 2.5 %

Shares of RVMD opened at $41.56 on Wednesday. The company has a 50-day moving average of $43.09 and a two-hundred day moving average of $38.00. Revolution Medicines, Inc. has a one year low of $15.44 and a one year high of $48.61.

Revolution Medicines (NASDAQ:RVMD) last posted its quarterly earnings data on Wednesday, August 7th. The company reported ($0.81) earnings per share for the quarter, missing the consensus estimate of ($0.77) by ($0.04). The business had revenue of $1.00 million for the quarter, compared to analysts’ expectations of $0.81 million. During the same quarter last year, the firm posted ($0.92) EPS. The business’s quarterly revenue was down 73.8% on a year-over-year basis. Equities analysts forecast that Revolution Medicines, Inc. will post -3.47 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts recently commented on RVMD shares. Jefferies Financial Group started coverage on Revolution Medicines in a report on Monday, July 8th. They set a “buy” rating and a $63.00 target price on the stock. Barclays boosted their price objective on Revolution Medicines from $52.00 to $54.00 and gave the stock an “overweight” rating in a research note on Thursday, July 18th. Wedbush reaffirmed an “outperform” rating and set a $59.00 target price on shares of Revolution Medicines in a research note on Thursday, August 8th. HC Wainwright reiterated a “buy” rating and issued a $56.00 price target on shares of Revolution Medicines in a research report on Monday, August 12th. Finally, Bank of America raised their price objective on shares of Revolution Medicines from $48.00 to $55.00 and gave the company a “buy” rating in a research report on Tuesday, July 16th. Eleven research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Revolution Medicines presently has a consensus rating of “Buy” and an average target price of $52.92.

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.