Legato Capital Management LLC Has $3.88 Million Stake in Revolution Medicines, Inc. $RVMD

Legato Capital Management LLC raised its position in shares of Revolution Medicines, Inc. (NASDAQ:RVMD) by 40.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 48,751 shares of the company’s stock after purchasing an additional 14,097 shares during the period. Legato Capital Management LLC’s holdings in Revolution Medicines were worth $3,883,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in RVMD. Indiana Trust & Investment Management Co acquired a new position in Revolution Medicines during the fourth quarter valued at approximately $32,000. Global Retirement Partners LLC raised its position in Revolution Medicines by 1,002.8% during the fourth quarter. Global Retirement Partners LLC now owns 397 shares of the company’s stock valued at $32,000 after purchasing an additional 361 shares in the last quarter. Torren Management LLC acquired a new position in Revolution Medicines during the fourth quarter valued at approximately $33,000. Darwin Wealth Management LLC acquired a new position in Revolution Medicines during the fourth quarter valued at approximately $40,000. Finally, Allworth Financial LP raised its position in Revolution Medicines by 57.2% during the fourth quarter. Allworth Financial LP now owns 577 shares of the company’s stock valued at $46,000 after purchasing an additional 210 shares in the last quarter. 94.34% of the stock is currently owned by institutional investors and hedge funds.

Revolution Medicines Stock Down 1.4%

Shares of NASDAQ:RVMD opened at $151.56 on Friday. The company has a fifty day moving average of $123.75 and a 200-day moving average of $101.21. The company has a market capitalization of $32.22 billion, a PE ratio of -21.44 and a beta of 1.41. The company has a debt-to-equity ratio of 0.19, a quick ratio of 6.80 and a current ratio of 6.80. Revolution Medicines, Inc. has a 52-week low of $34.00 and a 52-week high of $156.25.

Revolution Medicines (NASDAQ:RVMD) last issued its quarterly earnings data on Wednesday, May 6th. The company reported ($2.29) earnings per share for the quarter, missing the consensus estimate of ($1.83) by ($0.46). During the same period in the prior year, the company earned ($1.13) EPS. On average, equities analysts predict that Revolution Medicines, Inc. will post -7.75 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Stephen Michael Kelsey sold 4,302 shares of the business’s stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $99.48, for a total value of $427,962.96. Following the sale, the insider owned 295,398 shares of the company’s stock, valued at $29,386,193.04. The trade was a 1.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Margaret A. Horn sold 4,583 shares of the business’s stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $99.48, for a total transaction of $455,916.84. Following the completion of the sale, the chief operating officer directly owned 157,570 shares in the company, valued at approximately $15,675,063.60. This represents a 2.83% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 184,592 shares of company stock valued at $24,499,532 over the last quarter. 8.20% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

RVMD has been the subject of several research analyst reports. UBS Group initiated coverage on shares of Revolution Medicines in a research report on Friday, February 27th. They set a “buy” rating for the company. Benchmark restated an “overweight” rating on shares of Revolution Medicines in a research report on Tuesday, February 17th. HC Wainwright restated a “buy” rating on shares of Revolution Medicines in a research report on Wednesday, April 22nd. Jefferies Financial Group initiated coverage on shares of Revolution Medicines in a research report on Monday, March 16th. They set a “buy” rating for the company. Finally, Wedbush boosted their price objective on shares of Revolution Medicines to $165.00 and gave the company an “outperform” rating in a research report on Thursday, May 7th. Three research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Revolution Medicines has an average rating of “Buy” and a consensus price target of $111.35.

About Revolution Medicines

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.