Knights of Columbus Asset Advisors LLC Takes $587,000 Position in Revolution Medicines, Inc. $RVMD

Knights of Columbus Asset Advisors LLC bought a new position in Revolution Medicines, Inc. (NASDAQ:RVMD) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor bought 12,573 shares of the company’s stock, valued at approximately $587,000.

A number of other institutional investors and hedge funds have also bought and sold shares of RVMD. Nextech Invest Ltd. lifted its holdings in shares of Revolution Medicines by 20.7% in the 4th quarter. Nextech Invest Ltd. now owns 7,601,087 shares of the company’s stock worth $332,472,000 after acquiring an additional 1,304,347 shares during the last quarter. Bellevue Group AG raised its holdings in Revolution Medicines by 4.7% in the second quarter. Bellevue Group AG now owns 4,579,300 shares of the company’s stock worth $168,472,000 after purchasing an additional 205,000 shares in the last quarter. Norges Bank purchased a new position in Revolution Medicines during the 2nd quarter valued at about $62,584,000. Westfield Capital Management Co. LP lifted its holdings in shares of Revolution Medicines by 55.0% during the second quarter. Westfield Capital Management Co. LP now owns 1,649,404 shares of the company’s stock valued at $60,682,000 after purchasing an additional 585,358 shares during the last quarter. Finally, Vestal Point Capital LP bought a new position in shares of Revolution Medicines during the second quarter valued at $44,148,000. 94.34% of the stock is owned by hedge funds and other institutional investors.

Revolution Medicines Stock Down 1.3%

NASDAQ:RVMD opened at $96.95 on Friday. The stock has a market capitalization of $18.74 billion, a P/E ratio of -18.75 and a beta of 0.99. Revolution Medicines, Inc. has a fifty-two week low of $29.17 and a fifty-two week high of $124.49. The company has a debt-to-equity ratio of 0.16, a quick ratio of 8.05 and a current ratio of 8.05. The company’s 50-day simple moving average is $90.50 and its 200-day simple moving average is $61.91.

Revolution Medicines (NASDAQ:RVMD) last released its earnings results on Wednesday, November 5th. The company reported ($1.61) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.39) by ($0.22). During the same quarter in the previous year, the business earned ($0.94) earnings per share. On average, equities analysts anticipate that Revolution Medicines, Inc. will post -3.49 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

RVMD has been the topic of a number of research analyst reports. Royal Bank Of Canada started coverage on shares of Revolution Medicines in a research report on Monday, November 3rd. They set an “outperform” rating and a $77.00 price objective on the stock. HC Wainwright increased their price objective on shares of Revolution Medicines from $72.00 to $73.00 and gave the stock a “buy” rating in a research note on Thursday, November 6th. Needham & Company LLC upped their price target on Revolution Medicines from $66.00 to $72.00 and gave the stock a “buy” rating in a research note on Thursday, November 6th. Wolfe Research initiated coverage on Revolution Medicines in a research report on Tuesday, November 18th. They set an “outperform” rating and a $75.00 price objective for the company. Finally, Mizuho began coverage on shares of Revolution Medicines in a research note on Tuesday, October 21st. They set an “outperform” rating and a $90.00 price target on the stock. Four equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Revolution Medicines currently has a consensus rating of “Buy” and a consensus target price of $78.94.

Insiders Place Their Bets

In related news, COO Margaret A. Horn sold 75,000 shares of the company’s stock in a transaction dated Wednesday, January 7th. The shares were sold at an average price of $100.56, for a total transaction of $7,542,000.00. Following the completion of the sale, the chief operating officer owned 141,053 shares of the company’s stock, valued at approximately $14,184,289.68. This represents a 34.71% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Mark A. Goldsmith sold 60,000 shares of the company’s stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $75.08, for a total transaction of $4,504,800.00. Following the completion of the sale, the insider directly owned 247,863 shares of the company’s stock, valued at $18,609,554.04. This represents a 19.49% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 243,792 shares of company stock worth $19,757,740. Corporate insiders own 8.20% of the company’s stock.

Revolution Medicines Company Profile

Revolution Medicines is a clinical-stage biopharmaceutical company focused on discovering and developing small molecule therapies to treat RAS-dependent cancers and other diseases driven by the RAS/MAPK pathway. The company’s research efforts target historically “undruggable” proteins, aiming to inhibit critical nodes in cell signaling that promote tumor growth and therapeutic resistance.

The lead pipeline includes RMC-4630, a SHP2 inhibitor; RMC-6291, a selective KRAS G12C inhibitor; and RMC-6236, a pan-RAS inhibitor designed to address multiple RAS mutations.