Revolution Medicines, Inc. $RVMD Shares Purchased by Verition Fund Management LLC

Verition Fund Management LLC boosted its stake in Revolution Medicines, Inc. (NASDAQ:RVMD) by 39.8% in the 4th quarter, Holdings Channel reports. The firm owned 189,333 shares of the company’s stock after purchasing an additional 53,884 shares during the period. Verition Fund Management LLC’s holdings in Revolution Medicines were worth $15,080,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Nicholas Investment Partners LP increased its holdings in Revolution Medicines by 18.6% in the 4th quarter. Nicholas Investment Partners LP now owns 317,711 shares of the company’s stock valued at $25,306,000 after purchasing an additional 49,800 shares during the last quarter. General American Investors Co. Inc. acquired a new stake in Revolution Medicines in the 4th quarter valued at approximately $5,101,000. Landscape Capital Management L.L.C. acquired a new stake in Revolution Medicines in the 4th quarter valued at approximately $1,501,000. Arax Advisory Partners acquired a new stake in Revolution Medicines in the 4th quarter valued at approximately $38,000. Finally, FORA Capital LLC increased its holdings in Revolution Medicines by 172.5% in the 4th quarter. FORA Capital LLC now owns 17,357 shares of the company’s stock valued at $1,373,000 after purchasing an additional 10,988 shares during the last quarter. Institutional investors and hedge funds own 94.34% of the company’s stock.

Wall Street Analyst Weigh In

RVMD has been the subject of several research reports. Oppenheimer boosted their price target on shares of Revolution Medicines from $165.00 to $195.00 and gave the stock an “outperform” rating in a research note on Monday, June 1st. UBS Group initiated coverage on shares of Revolution Medicines in a research note on Friday, February 27th. They issued a “buy” rating for the company. Truist Financial initiated coverage on shares of Revolution Medicines in a research note on Monday, May 18th. They issued a “buy” rating and a $179.00 price target for the company. Jefferies Financial Group initiated coverage on shares of Revolution Medicines in a research note on Monday, March 16th. They issued a “buy” rating for the company. Finally, HC Wainwright boosted their price target on shares of Revolution Medicines from $169.00 to $195.00 and gave the stock a “buy” rating in a research note on Monday, June 1st. Three equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $123.72.

Insider Activity

In other news, insider Mark A. Goldsmith sold 120,000 shares of Revolution Medicines stock in a transaction on Wednesday, April 15th. The shares were sold at an average price of $150.09, for a total transaction of $18,010,800.00. Following the completion of the sale, the insider directly owned 276,698 shares of the company’s stock, valued at approximately $41,529,602.82. The trade was a 30.25% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 7.60% of the company’s stock.

Revolution Medicines Stock Performance

NASDAQ:RVMD opened at $160.06 on Tuesday. The company has a fifty day simple moving average of $141.98 and a two-hundred day simple moving average of $111.27. The company has a market cap of $34.03 billion, a price-to-earnings ratio of -22.64 and a beta of 1.40. The company has a quick ratio of 6.80, a current ratio of 6.80 and a debt-to-equity ratio of 0.19. Revolution Medicines, Inc. has a 52 week low of $34.00 and a 52 week high of $166.50.

Revolution Medicines (NASDAQ:RVMD) last posted its quarterly earnings results on Wednesday, May 6th. The company reported ($2.29) EPS for the quarter, missing the consensus estimate of ($1.83) by ($0.46). During the same period last year, the business posted ($1.13) EPS. As a group, equities analysts anticipate that Revolution Medicines, Inc. will post -7.94 earnings per share for the current fiscal year.

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.