OP Asset Management Ltd Buys Shares of 33,633 Revolution Medicines, Inc. $RVMD

OP Asset Management Ltd acquired a new stake in shares of Revolution Medicines, Inc. (NASDAQ:RVMD) during the first quarter, Holdings Channel reports. The fund acquired 33,633 shares of the company’s stock, valued at approximately $3,271,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in shares of Revolution Medicines by 6.7% in the 4th quarter. Vanguard Group Inc. now owns 16,719,886 shares of the company’s stock valued at $1,331,739,000 after acquiring an additional 1,056,792 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in Revolution Medicines by 194.6% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 21,289 shares of the company’s stock worth $1,696,000 after purchasing an additional 14,062 shares during the last quarter. Mass General Brigham Inc acquired a new position in Revolution Medicines in the fourth quarter worth $27,407,000. M&T Bank Corp acquired a new position in Revolution Medicines in the fourth quarter worth $52,723,000. Finally, Eagle Health Investments LP bought a new stake in Revolution Medicines during the fourth quarter valued at $9,231,000. Institutional investors own 94.34% of the company’s stock.

Revolution Medicines Price Performance

Shares of RVMD opened at $182.08 on Friday. The firm has a market capitalization of $38.71 billion, a price-to-earnings ratio of -25.75 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 $184.39. The stock’s fifty day moving average is $151.78 and its 200-day moving average is $116.68.

Revolution Medicines (NASDAQ:RVMD) last posted 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 last year, the business earned ($1.13) EPS. Equities analysts anticipate that Revolution Medicines, Inc. will post -7.94 EPS for the current year.

Analysts Set New Price Targets

RVMD has been the topic of several research reports. HC Wainwright increased their price objective 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. Oppenheimer lifted their target price on Revolution Medicines from $165.00 to $195.00 and gave the company an “outperform” rating in a research note on Monday, June 1st. Royal Bank Of Canada upped their target price on Revolution Medicines from $165.00 to $182.00 and gave the company an “outperform” rating in a report on Tuesday, June 2nd. Jefferies Financial Group started coverage on Revolution Medicines in a research report on Monday, March 16th. They set a “buy” rating on the stock. Finally, Stifel Nicolaus reissued a “buy” rating on shares of Revolution Medicines in a report on Monday, April 20th. 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 stock. According to MarketBeat, Revolution Medicines has an average rating of “Buy” and an average target price of $123.72.

Insider Activity at Revolution Medicines

In related news, insider Mark A. Goldsmith sold 10,020 shares of the firm’s stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $156.12, for a total transaction of $1,564,322.40. Following the transaction, the insider owned 267,330 shares in the company, valued at $41,735,559.60. This trade represents a 3.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Stephen Michael Kelsey sold 4,175 shares of the business’s stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $156.12, for a total value of $651,801.00. Following the sale, the insider directly owned 291,876 shares in the company, valued at approximately $45,567,681.12. The trade was a 1.41% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders sold 246,917 shares of company stock valued at $38,432,302. 7.60% of the stock is currently owned by insiders.

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.