Eagle Health Investments LP Buys New Position in Revolution Medicines, Inc. $RVMD

Eagle Health Investments LP purchased a new position in Revolution Medicines, Inc. (NASDAQ:RVMD) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 120,346 shares of the company’s stock, valued at approximately $22,538,000. Revolution Medicines accounts for about 3.7% of Eagle Health Investments LP’s portfolio, making the stock its 12th biggest position. Eagle Health Investments LP owned about 0.06% of Revolution Medicines as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Nextech Invest Ltd. raised its holdings in Revolution Medicines by 20.7% in the 4th quarter. Nextech Invest Ltd. now owns 7,601,087 shares of the company’s stock worth $332,472,000 after purchasing an additional 1,304,347 shares in the last quarter. Millennium Management LLC boosted its stake in shares of Revolution Medicines by 681.8% during the 1st quarter. Millennium Management LLC now owns 156,353 shares of the company’s stock valued at $5,529,000 after purchasing an additional 136,353 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Revolution Medicines by 14.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 300,196 shares of the company’s stock valued at $10,615,000 after purchasing an additional 37,345 shares in the last quarter. Invesco Ltd. increased its position in shares of Revolution Medicines by 19.3% during the second quarter. Invesco Ltd. now owns 227,019 shares of the company’s stock valued at $8,352,000 after buying an additional 36,760 shares during the period. Finally, Jump Financial LLC increased its position in shares of Revolution Medicines by 87.9% during the second quarter. Jump Financial LLC now owns 15,258 shares of the company’s stock valued at $561,000 after buying an additional 7,137 shares during the period. Institutional investors own 94.34% of the company’s stock.

Analysts Set New Price Targets

RVMD has been the subject of several research analyst reports. Guggenheim raised their price objective on shares of Revolution Medicines from $235.00 to $240.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Piper Sandler increased their target price on Revolution Medicines to $172.00 and gave the stock an “overweight” rating in a research report on Thursday, May 7th. Sanford C. Bernstein started coverage on Revolution Medicines in a research note on Thursday, May 21st. They issued a “market perform” rating and a $151.00 target price for the company. HC Wainwright restated a “buy” rating and set a $195.00 price target on shares of Revolution Medicines in a research report on Monday, July 6th. Finally, Royal Bank Of Canada upped their price target on Revolution Medicines from $182.00 to $203.00 and gave the stock an “outperform” rating in a research note on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $166.33.

Insider Buying and Selling

In related news, CFO Jack Anders sold 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 24th. The stock was sold at an average price of $168.33, for a total transaction of $3,366,600.00. Following the completion of the transaction, the chief financial officer owned 123,269 shares of the company’s stock, valued at $20,749,870.77. This trade represents a 13.96% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Stephen Michael Kelsey sold 4,175 shares of Revolution Medicines stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $156.12, for a total value of $651,801.00. Following the transaction, the insider owned 291,876 shares of the company’s stock, valued at $45,567,681.12. The trade was a 1.41% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 132,497 shares of company stock worth $21,470,486 over the last three months. Corporate insiders own 7.60% of the company’s stock.

Revolution Medicines Trading Down 0.6%

NASDAQ:RVMD opened at $214.66 on Thursday. Revolution Medicines, Inc. has a one year low of $35.42 and a one year high of $220.34. The company has a debt-to-equity ratio of 0.40, a current ratio of 11.38 and a quick ratio of 11.38. The company’s 50-day simple moving average is $185.62 and its 200 day simple moving average is $143.24. The firm has a market capitalization of $46.01 billion, a P/E ratio of -24.34 and a beta of 1.39.

Revolution Medicines (NASDAQ:RVMD) last announced its earnings results on Wednesday, August 5th. The company reported ($3.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($2.04) by ($1.02). During the same quarter last year, the company earned ($1.31) EPS. As a group, analysts forecast that Revolution Medicines, Inc. will post -8.82 EPS 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.