Raiffeisen Bank International AG decreased its holdings in Revolution Medicines, Inc. by 22.7% during the second quarter. The bank sold 5,899 shares. It now holds 20,101 shares. These shares are valued at approximately $3.9 million.
This sale occurs amid significant interest from other institutional investors. Alphabet, Norges Bank, and Avoro Capital recently initiated large new positions in RVMD. Polar Capital and Adage Capital substantially increased their stakes. Overall, institutional investors and hedge funds own 94.34% of the company's stock.
The FDA recently approved Revolution Medicines' drug, RASONQUE. RASONQUE treats metastatic pancreatic cancer.