Pictet Asset Management Holding SA Increases Stock Holdings in Revolution Medicines, Inc. (NASDAQ:RVMD)

Pictet Asset Management Holding SA boosted its holdings in Revolution Medicines, Inc. (NASDAQ:RVMD) by 4,399.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 712,596 shares of the company’s stock after purchasing an additional 696,759 shares during the quarter. Pictet Asset Management Holding SA owned approximately 0.42% of Revolution Medicines worth $31,169,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in RVMD. Vanguard Group Inc. lifted its holdings in shares of Revolution Medicines by 14.7% during the 4th quarter. Vanguard Group Inc. now owns 17,096,455 shares of the company’s stock worth $747,799,000 after acquiring an additional 2,185,082 shares during the period. Janus Henderson Group PLC raised its stake in Revolution Medicines by 32.3% during the third quarter. Janus Henderson Group PLC now owns 6,137,244 shares of the company’s stock worth $278,280,000 after purchasing an additional 1,497,026 shares during the period. FMR LLC boosted its holdings in shares of Revolution Medicines by 4.4% in the 3rd 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 during the last quarter. State Street Corp grew its stake in shares of Revolution Medicines by 4.1% during the 3rd quarter. State Street Corp now owns 5,279,584 shares of the company’s stock valued at $239,429,000 after buying an additional 208,516 shares during the period. Finally, Geode Capital Management LLC raised its position in shares of 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 during the period. 94.34% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Revolution Medicines

In other news, insider Mark A. Goldsmith sold 11,738 shares of the business’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $39.04, for a total value of $458,251.52. Following the completion of the sale, the insider now directly owns 441,564 shares in the company, valued at approximately $17,238,658.56. The trade was a 2.59 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Margaret A. Horn sold 3,058 shares of the company’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $39.04, for a total value of $119,384.32. Following the sale, the chief operating officer now directly owns 153,533 shares in the company, valued at approximately $5,993,928.32. This represents a 1.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 16,660 shares of company stock valued at $650,406 over the last ninety days. Corporate insiders own 8.00% of the company’s stock.

Revolution Medicines Stock Performance

Shares of NASDAQ RVMD opened at $37.35 on Monday. Revolution Medicines, Inc. has a 1 year low of $29.55 and a 1 year high of $62.40. The stock’s 50-day simple moving average is $40.32 and its 200-day simple moving average is $45.61. The firm has a market cap of $6.94 billion, a price-to-earnings ratio of -10.40 and a beta of 1.46.

Revolution Medicines (NASDAQ:RVMD) last posted its quarterly earnings data on Wednesday, February 26th. The company reported ($1.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.01) by ($0.11). As a group, research analysts predict that Revolution Medicines, Inc. will post -3.49 EPS for the current year.

Analyst Ratings Changes

A number of research firms have issued reports on RVMD. Guggenheim boosted their price target on Revolution Medicines from $82.00 to $87.00 and gave the company a “buy” rating in a research report on Tuesday, December 3rd. Stifel Nicolaus decreased their target price on Revolution Medicines from $80.00 to $78.00 and set a “buy” rating for the company in a report on Thursday, February 27th. Wedbush restated an “outperform” rating and issued a $67.00 price target on shares of Revolution Medicines in a report on Thursday, February 27th. JPMorgan Chase & Co. boosted their price objective on shares of Revolution Medicines from $63.00 to $71.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 3rd. Finally, HC Wainwright raised their target price on shares of Revolution Medicines from $72.00 to $73.00 and gave the company a “buy” rating in a research note on Monday, March 3rd. Twelve equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $66.31.

About Revolution Medicines

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.