1,742,039 Shares in Revolution Medicines, Inc. (NASDAQ:RVMD) Bought by Norges Bank

Norges Bank acquired a new position in shares of Revolution Medicines, Inc. (NASDAQ:RVMD) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 1,742,039 shares of the company’s stock, valued at approximately $76,197,000. Norges Bank owned 1.04% of Revolution Medicines as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Captrust Financial Advisors grew its holdings in Revolution Medicines by 4.1% during the 3rd quarter. Captrust Financial Advisors now owns 8,459 shares of the company’s stock valued at $384,000 after purchasing an additional 337 shares during the last quarter. Verition Fund Management LLC bought a new position in shares of Revolution Medicines during the third quarter valued at approximately $645,000. Edgestream Partners L.P. purchased a new stake in shares of Revolution Medicines in the third quarter worth approximately $1,745,000. Erste Asset Management GmbH bought a new stake in shares of Revolution Medicines during the 3rd quarter worth approximately $1,210,000. Finally, Janus Henderson Group PLC boosted its holdings in 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 period. Hedge funds and other institutional investors own 94.34% of the company’s stock.

Insider Activity

In other Revolution Medicines news, CFO Jack Anders sold 1,864 shares of the stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $39.04, for a total value of $72,770.56. Following the completion of the sale, the chief financial officer now directly owns 115,006 shares in the company, valued at approximately $4,489,834.24. This trade represents a 1.59 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Mark A. Goldsmith sold 11,738 shares of the business’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $39.04, for a total value of $458,251.52. Following the sale, the insider now owns 441,564 shares in the company, valued at $17,238,658.56. The trade was a 2.59 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 16,660 shares of company stock worth $650,406. Insiders own 8.00% of the company’s stock.

Revolution Medicines Price Performance

RVMD opened at $34.60 on Thursday. The firm has a market capitalization of $6.43 billion, a PE ratio of -9.64 and a beta of 1.46. The business’s 50-day moving average is $39.97 and its two-hundred day moving average is $45.42. Revolution Medicines, Inc. has a 1 year low of $29.55 and a 1 year high of $62.40.

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

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on RVMD. Needham & Company LLC decreased their target price on Revolution Medicines from $60.00 to $59.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. Stifel Nicolaus lowered their price objective on shares of Revolution Medicines from $78.00 to $64.00 and set a “buy” rating for the company in a research report on Tuesday. UBS Group raised their target price on shares of Revolution Medicines from $65.00 to $71.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. Wedbush reiterated an “outperform” rating and issued a $67.00 price target on shares of Revolution Medicines in a report on Thursday, February 27th. Finally, HC Wainwright raised their price objective on Revolution Medicines from $72.00 to $73.00 and gave the stock a “buy” rating in a report on Monday, March 3rd. Twelve investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $65.23.

Revolution Medicines 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.