Orbimed Advisors LLC Buys 26,100 Shares of Revolution Medicines, Inc. $RVMD

Orbimed Advisors LLC increased its stake in Revolution Medicines, Inc. (NASDAQ:RVMD) by 100.8% in the first quarter, Holdings Channel reports. The institutional investor owned 52,000 shares of the company’s stock after acquiring an additional 26,100 shares during the period. Orbimed Advisors LLC’s holdings in Revolution Medicines were worth $5,057,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of RVMD. Rangeley Capital LLC bought a new position in Revolution Medicines during the first quarter valued at $6,487,000. Lombard Odier Asset Management Switzerland SA bought a new stake in shares of Revolution Medicines in the 1st quarter worth about $247,000. Aristotle Atlantic Partners LLC boosted its stake in shares of Revolution Medicines by 11.8% during the 1st quarter. Aristotle Atlantic Partners LLC now owns 11,636 shares of the company’s stock worth $1,132,000 after purchasing an additional 1,226 shares during the period. Kryger Capital LLC purchased a new position in shares of Revolution Medicines during the 1st quarter worth about $843,000. Finally, Renaissance Technologies LLC bought a new position in Revolution Medicines during the 1st quarter valued at about $603,000. 94.34% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Revolution Medicines

In other Revolution Medicines news, COO Margaret A. Horn sold 29,600 shares of the stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $160.12, for a total transaction of $4,739,552.00. Following the completion of the sale, the chief operating officer directly owned 154,647 shares of the company’s stock, valued at approximately $24,762,077.64. This represents a 16.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Sushil Patel sold 5,580 shares of the stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $187.99, for a total transaction of $1,048,984.20. Following the sale, the director directly owned 21,656 shares of the company’s stock, valued at approximately $4,071,111.44. The trade was a 20.49% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 132,497 shares of company stock valued at $21,470,486 over the last 90 days. Company insiders own 7.60% of the company’s stock.

Revolution Medicines Stock Performance

Shares of NASDAQ:RVMD opened at $189.23 on Monday. The firm has a 50 day moving average of $168.87 and a 200 day moving average of $132.11. The company has a quick ratio of 6.80, a current ratio of 6.80 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $40.23 billion, a price-to-earnings ratio of -26.77 and a beta of 1.37. Revolution Medicines, Inc. has a 52 week low of $34.00 and a 52 week high of $193.82.

Revolution Medicines (NASDAQ:RVMD) last announced its quarterly earnings results on Wednesday, May 6th. The company reported ($2.29) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.83) by ($0.46). During the same quarter last year, the firm posted ($1.13) earnings per share. On average, sell-side analysts predict that Revolution Medicines, Inc. will post -7.91 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have issued reports on RVMD. Guggenheim boosted their target price on Revolution Medicines from $205.00 to $235.00 and gave the company a “buy” rating in a research report on Thursday, July 9th. HC Wainwright reissued a “buy” rating and set a $195.00 price target on shares of Revolution Medicines in a research note on Monday, July 6th. Truist Financial boosted their price objective on Revolution Medicines from $179.00 to $210.00 and gave the company a “buy” rating in a report on Tuesday, June 30th. Weiss Ratings reissued a “sell (d-)” rating on shares of Revolution Medicines in a research note on Friday, July 17th. Finally, Piper Sandler raised their price target on shares of 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 assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Revolution Medicines has an average rating of “Moderate Buy” and an average price target of $144.67.

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.