Vontobel Holding Ltd. Invests $246,000 in Revolution Medicines, Inc. (NASDAQ:RVMD)

Vontobel Holding Ltd. purchased a new stake in Revolution Medicines, Inc. (NASDAQ:RVMD) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 5,432 shares of the company’s stock, valued at approximately $246,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Susquehanna Fundamental Investments LLC acquired a new stake in Revolution Medicines during the 1st quarter valued at $6,656,000. Vanguard Group Inc. lifted its stake in Revolution Medicines by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 14,757,112 shares of the company’s stock worth $475,622,000 after acquiring an additional 122,721 shares in the last quarter. Seven Eight Capital LP acquired a new stake in Revolution Medicines during the 1st quarter worth about $2,208,000. Price T Rowe Associates Inc. MD grew its stake in Revolution Medicines by 3.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,814,310 shares of the company’s stock valued at $155,166,000 after acquiring an additional 177,957 shares in the last quarter. Finally, Sei Investments Co. purchased a new stake in shares of Revolution Medicines in the first quarter worth approximately $528,000. Institutional investors and hedge funds own 94.34% of the company’s stock.

Insider Activity

In related news, Director Barbara Weber sold 5,200 shares of the stock in a transaction that occurred on Tuesday, October 8th. The stock was sold at an average price of $48.02, for a total transaction of $249,704.00. Following the completion of the sale, the director now owns 13,065 shares in the company, valued at $627,381.30. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Revolution Medicines news, Director Barbara Weber sold 5,200 shares of the stock in a transaction on Tuesday, October 8th. The shares were sold at an average price of $48.02, for a total value of $249,704.00. Following the completion of the sale, the director now directly owns 13,065 shares of the company’s stock, valued at $627,381.30. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Jack Anders sold 10,000 shares of the business’s stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $50.30, for a total transaction of $503,000.00. Following the transaction, the chief financial officer now owns 98,932 shares in the company, valued at approximately $4,976,279.60. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 137,866 shares of company stock valued at $6,814,424. 8.00% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have weighed in on RVMD shares. Needham & Company LLC reiterated a “buy” rating and issued a $61.00 price objective on shares of Revolution Medicines in a research note on Monday, October 7th. Jefferies Financial Group assumed coverage on shares of Revolution Medicines in a research note on Monday, July 8th. They issued a “buy” rating and a $63.00 price target on the stock. Wedbush reissued an “outperform” rating and set a $59.00 price objective on shares of Revolution Medicines in a research report on Thursday, August 8th. Barclays upped their target price on Revolution Medicines from $54.00 to $60.00 and gave the stock an “overweight” rating in a research report on Friday, September 27th. Finally, Bank of America lifted their price target on Revolution Medicines from $48.00 to $55.00 and gave the company a “buy” rating in a report on Tuesday, July 16th. Ten equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $54.00.

Revolution Medicines Stock Up 2.9 %

Shares of RVMD stock opened at $48.51 on Thursday. Revolution Medicines, Inc. has a 12 month low of $18.00 and a 12 month high of $51.00. The company has a market cap of $8.10 billion, a PE ratio of -13.33 and a beta of 1.43. The business’s 50 day moving average is $45.12 and its two-hundred day moving average is $41.71.

Revolution Medicines (NASDAQ:RVMD) last posted its earnings results on Wednesday, August 7th. The company reported ($0.81) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.77) by ($0.04). The company had revenue of $1.00 million for the quarter, compared to analyst estimates of $0.81 million. The company’s revenue was down 73.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.92) EPS. As a group, equities analysts expect that Revolution Medicines, Inc. will post -3.35 EPS for the current fiscal year.

Revolution Medicines Company 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.