62,161 Shares in Revolution Medicines, Inc. (NASDAQ:RVMD) Bought by HealthInvest Partners AB

HealthInvest Partners AB acquired a new stake in shares of Revolution Medicines, Inc. (NASDAQ:RVMD) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 62,161 shares of the company’s stock, valued at approximately $2,683,000. Revolution Medicines accounts for approximately 1.2% of HealthInvest Partners AB’s holdings, making the stock its 24th largest position.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Janus Henderson Group PLC boosted its position in shares of Revolution Medicines by 32.3% during the 3rd quarter. Janus Henderson Group PLC now owns 6,137,244 shares of the company’s stock valued at $278,280,000 after acquiring an additional 1,497,026 shares during the last quarter. FMR LLC raised its stake in Revolution Medicines by 4.4% in the third quarter. FMR LLC now owns 5,875,893 shares of the company’s stock valued at $266,472,000 after purchasing an additional 250,037 shares in the last quarter. State Street Corp lifted its position in Revolution Medicines by 4.1% during the third quarter. State Street Corp now owns 5,279,584 shares of the company’s stock valued at $239,429,000 after purchasing an additional 208,516 shares during the last quarter. Geode Capital Management LLC grew its stake in Revolution Medicines by 8.7% in the 3rd quarter. Geode Capital Management LLC now owns 3,627,025 shares of the company’s stock worth $164,517,000 after buying an additional 291,369 shares in the last quarter. Finally, Lord Abbett & CO. LLC bought a new position in shares of Revolution Medicines in the 3rd quarter worth $83,082,000. 94.34% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CFO Jack Anders sold 2,635 shares of the business’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $45.40, for a total transaction of $119,629.00. Following the transaction, the chief financial officer now owns 96,470 shares in the company, valued at $4,379,738. The trade was a 2.66 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Margaret A. Horn sold 4,329 shares of Revolution Medicines stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $45.40, for a total value of $196,536.60. Following the completion of the sale, the chief operating officer now owns 127,991 shares in the company, valued at approximately $5,810,791.40. This represents a 3.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 18,678 shares of company stock valued at $847,981 in the last quarter. Insiders own 8.00% of the company’s stock.

Revolution Medicines Stock Performance

Shares of Revolution Medicines stock opened at $41.34 on Monday. The company’s 50 day moving average price is $42.49 and its 200-day moving average price is $46.29. Revolution Medicines, Inc. has a 52-week low of $28.65 and a 52-week high of $62.40. The stock has a market capitalization of $6.95 billion, a price-to-earnings ratio of -11.52 and a beta of 1.45.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. UBS Group lifted their price objective on shares of Revolution Medicines from $65.00 to $71.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. Piper Sandler lifted their price target on Revolution Medicines from $57.00 to $70.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. Oppenheimer increased their price objective on Revolution Medicines from $55.00 to $60.00 and gave the company an “outperform” rating in a research report on Monday, October 28th. Wedbush restated an “outperform” rating and issued a $70.00 target price on shares of Revolution Medicines in a research report on Monday, December 2nd. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $68.00 target price on shares of Revolution Medicines in a research note on Tuesday, December 3rd. Eleven investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $66.25.

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.