Walleye Capital LLC Takes $3.07 Million Position in Revolution Medicines, Inc. $RVMD

Walleye Capital LLC bought a new position in Revolution Medicines, Inc. (NASDAQ:RVMD) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 31,602 shares of the company’s stock, valued at approximately $3,073,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Global Retirement Partners LLC boosted its position in Revolution Medicines by 1,002.8% during the 4th quarter. Global Retirement Partners LLC now owns 397 shares of the company’s stock valued at $32,000 after buying an additional 361 shares during the period. Indiana Trust & Investment Management Co bought a new position in shares of Revolution Medicines during the fourth quarter valued at about $32,000. Torren Management LLC bought a new position in shares of Revolution Medicines during the fourth quarter valued at about $33,000. Arax Advisory Partners purchased a new stake in shares of Revolution Medicines during the fourth quarter worth about $38,000. Finally, Darwin Wealth Management LLC bought a new stake in shares of Revolution Medicines in the fourth quarter worth about $40,000. 94.34% of the stock is currently owned by institutional investors.

Insider Transactions at Revolution Medicines

In other Revolution Medicines news, COO Margaret A. Horn sold 29,600 shares of Revolution Medicines stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $160.12, for a total transaction of $4,739,552.00. Following the completion of the transaction, the chief operating officer owned 154,647 shares in the company, valued at approximately $24,762,077.64. The trade was a 16.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Jack Anders sold 20,000 shares of Revolution Medicines stock in a transaction on Wednesday, June 24th. The shares were sold at an average price of $168.33, for a total value of $3,366,600.00. Following the transaction, the chief financial officer owned 123,269 shares of the company’s stock, valued at $20,749,870.77. The trade was a 13.96% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 132,497 shares of company stock worth $21,470,486. Company insiders own 7.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Oppenheimer boosted their price target on Revolution Medicines from $165.00 to $195.00 and gave the company an “outperform” rating in a report on Monday, June 1st. Sanford C. Bernstein assumed coverage on Revolution Medicines in a research report on Thursday, May 21st. They issued a “market perform” rating and a $151.00 price objective on the stock. Mizuho boosted their target price on Revolution Medicines from $185.00 to $215.00 and gave the company an “outperform” rating in a research note on Monday, July 6th. HC Wainwright restated a “buy” rating and set a $195.00 target price on shares of Revolution Medicines in a report on Monday, July 6th. Finally, Piper Sandler raised their price target on Revolution Medicines to $172.00 and gave the stock an “overweight” rating in a research note on Thursday, May 7th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $144.67.

Revolution Medicines Stock Performance

Shares of RVMD opened at $188.75 on Friday. The company has a debt-to-equity ratio of 0.19, a current ratio of 6.80 and a quick ratio of 6.80. Revolution Medicines, Inc. has a one year low of $34.00 and a one year high of $193.82. The company has a 50-day simple moving average of $168.00 and a two-hundred day simple moving average of $131.32. The firm has a market capitalization of $40.13 billion, a PE ratio of -26.70 and a beta of 1.37.

Revolution Medicines (NASDAQ:RVMD) last posted its earnings results on Wednesday, May 6th. The company reported ($2.29) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.83) by ($0.46). During the same period in the previous year, the firm posted ($1.13) earnings per share. On average, analysts anticipate that Revolution Medicines, Inc. will post -7.9 EPS for the current fiscal year.

Revolution Medicines 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.