Nicholas Investment Partners LP Has $25.31 Million Stake in Revolution Medicines, Inc. $RVMD

Nicholas Investment Partners LP increased its stake in Revolution Medicines, Inc. (NASDAQ:RVMD) by 18.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 317,711 shares of the company’s stock after buying an additional 49,800 shares during the period. Revolution Medicines comprises about 1.8% of Nicholas Investment Partners LP’s investment portfolio, making the stock its 5th largest position. Nicholas Investment Partners LP owned approximately 0.16% of Revolution Medicines worth $25,306,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in RVMD. Indiana Trust & Investment Management Co bought a new stake in shares of Revolution Medicines in the fourth quarter worth $32,000. Global Retirement Partners LLC increased its stake in shares of Revolution Medicines by 1,002.8% in the fourth quarter. Global Retirement Partners LLC now owns 397 shares of the company’s stock worth $32,000 after buying an additional 361 shares during the last quarter. Torren Management LLC bought a new stake in shares of Revolution Medicines in the fourth quarter worth $33,000. Arax Advisory Partners bought a new stake in shares of Revolution Medicines in the fourth quarter worth $38,000. Finally, Darwin Wealth Management LLC bought a new stake in Revolution Medicines during the fourth quarter valued at $40,000. Institutional investors own 94.34% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. Royal Bank Of Canada boosted their target price on shares of Revolution Medicines from $165.00 to $182.00 and gave the company an “outperform” rating in a research note on Tuesday, June 2nd. UBS Group assumed coverage on shares of Revolution Medicines in a research note on Friday, February 27th. They set a “buy” rating for the company. Piper Sandler boosted their target price on shares of Revolution Medicines to $172.00 and gave the company an “overweight” rating in a research note on Thursday, May 7th. Evercore reiterated an “outperform” rating on shares of Revolution Medicines in a research note on Tuesday, April 14th. Finally, Truist Financial initiated coverage on shares of Revolution Medicines in a research note on Monday, May 18th. They set a “buy” rating and a $179.00 target price for the company. Three analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of “Buy” and an average target price of $123.72.

Insider Buying and Selling at Revolution Medicines

In related news, COO Margaret A. Horn sold 4,583 shares of the company’s stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $99.48, for a total value of $455,916.84. Following the completion of the sale, the chief operating officer owned 157,570 shares of the company’s stock, valued at $15,675,063.60. This represents a 2.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Stephen Michael Kelsey sold 4,302 shares of the company’s stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $99.48, for a total transaction of $427,962.96. Following the completion of the sale, the insider directly owned 295,398 shares of the company’s stock, valued at $29,386,193.04. The trade was a 1.44% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 148,592 shares of company stock valued at $20,855,132. Corporate insiders own 7.60% of the company’s stock.

Revolution Medicines Stock Up 3.1%

Revolution Medicines stock opened at $153.87 on Friday. The company has a 50-day simple moving average of $140.76 and a 200-day simple moving average of $110.42. The firm has a market capitalization of $32.71 billion, a P/E ratio of -21.76 and a beta of 1.40. 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 one year low of $34.00 and a one year high of $166.50.

Revolution Medicines (NASDAQ:RVMD) last released 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 company posted ($1.13) EPS. As a group, equities analysts expect that Revolution Medicines, Inc. will post -7.94 earnings per share for the current 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.