3,946 Shares of Revolution Medicines, Inc. $RVMD Acquired by Vontobel Holding Ltd.

Vontobel Holding Ltd. acquired a new stake in Revolution Medicines, Inc. (NASDAQ:RVMD) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 3,946 shares of the company’s stock, valued at approximately $810,000.

Other hedge funds have also recently added to or reduced their stakes in the company. TD Waterhouse Canada Inc. raised its position in Revolution Medicines by 37.0% during the third quarter. TD Waterhouse Canada Inc. now owns 370 shares of the company’s stock worth $76,000 after acquiring an additional 100 shares during the last quarter. Meeder Advisory Services Inc. lifted its holdings in shares of Revolution Medicines by 3.0% in the first quarter. Meeder Advisory Services Inc. now owns 4,126 shares of the company’s stock valued at $401,000 after purchasing an additional 120 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Revolution Medicines by 147.7% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 218 shares of the company’s stock valued at $41,000 after purchasing an additional 130 shares in the last quarter. Burkett Financial Services LLC purchased a new stake in shares of Revolution Medicines in the third quarter valued at about $27,000. Finally, Paragon Capital Management Ltd grew its position in shares of Revolution Medicines by 13.3% in the third quarter. Paragon Capital Management Ltd now owns 1,273 shares of the company’s stock valued at $261,000 after purchasing an additional 149 shares during the last quarter. 94.34% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Revolution Medicines

In other Revolution Medicines news, insider Alan Sandler sold 6,309 shares of the firm’s stock in a transaction dated Tuesday, September 29th. The shares were sold at an average price of $202.14, for a total transaction of $1,275,301.26. Following the sale, the insider directly owned 52,559 shares of the company’s stock, valued at $10,624,276.26. This trade represents a 10.72% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Margaret Horn sold 4,967 shares of Revolution Medicines stock in a transaction dated Wednesday, September 16th. The stock was sold at an average price of $199.24, for a total transaction of $989,625.08. Following the sale, the chief operating officer owned 149,680 shares of the company’s stock, valued at approximately $29,822,243.20. This trade represents a 3.21% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 290,991 shares of company stock worth $59,422,765 over the last three months. Company insiders own 7.60% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on RVMD. TD Cowen reissued a “buy” rating on shares of Revolution Medicines in a research note on Thursday, October 8th. Sanford C. Bernstein lifted their price objective on Revolution Medicines from $151.00 to $179.00 and gave the stock a “market perform” rating in a research report on Friday, August 21st. Evercore restated an “outperform” rating and set a $320.00 price objective on shares of Revolution Medicines in a research report on Thursday, August 27th. Guggenheim upped their target price on Revolution Medicines from $240.00 to $275.00 and gave the company a “buy” rating in a research note on Friday, August 28th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Revolution Medicines in a report on Thursday, October 15th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Revolution Medicines presently has a consensus rating of “Moderate Buy” and an average target price of $242.60.

Revolution Medicines Trading Up 7.9%

RVMD opened at $196.55 on Wednesday. The business’s fifty day simple moving average is $202.54 and its 200 day simple moving average is $175.28. Revolution Medicines, Inc. has a 52 week low of $52.48 and a 52 week high of $224.31. 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 announced its earnings results on Wednesday, August 5th. The company reported ($3.06) earnings per share for the quarter, missing the consensus estimate of ($2.04) by ($1.02). During the same quarter in the previous year, the business earned ($1.31) EPS. As a group, equities analysts predict that Revolution Medicines, Inc. will post -8.93 EPS for the current year.

About Revolution Medicines

Revolution Medicines, Inc is a clinical-stage biopharmaceutical company focused on developing targeted therapies for patients with RAS-mutant cancers. The company’s research platform is designed to discover and develop medicines that inhibit RAS proteins, which play a central role in the growth and spread of many cancers and have historically been difficult to target.

Its investigational pipeline includes RAS(ON) inhibitors and other precision oncology candidates, including daraxonrasib (RMC-6236), a pan-RAS inhibitor being evaluated in multiple solid tumors, as well as programs directed at specific mutations such as KRAS G12C and KRAS G12D.