General American Investors Co. Inc. acquired a new stake in Revolution Medicines, Inc. (NASDAQ:RVMD – Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 64,045 shares of the company’s stock, valued at approximately $5,101,000.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Global Retirement Partners LLC grew its holdings in Revolution Medicines by 1,002.8% in the 4th quarter. Global Retirement Partners LLC now owns 397 shares of the company’s stock valued at $32,000 after buying an additional 361 shares in the last quarter. Indiana Trust & Investment Management Co acquired a new position in Revolution Medicines in the 4th quarter valued at $32,000. Torren Management LLC acquired a new position in Revolution Medicines in the 4th quarter valued at $33,000. Arax Advisory Partners acquired a new position in Revolution Medicines in the 4th quarter valued at $38,000. Finally, Darwin Wealth Management LLC acquired a new position in Revolution Medicines in the 4th quarter valued at $40,000. 94.34% of the stock is owned by institutional investors and hedge funds.
Revolution Medicines Stock Performance
RVMD opened at $153.87 on Friday. The firm has a market cap of $32.71 billion, a P/E ratio of -21.76 and a beta of 1.40. Revolution Medicines, Inc. has a 52-week low of $34.00 and a 52-week high of $166.50. The company has a debt-to-equity ratio of 0.19, a quick ratio of 6.80 and a current ratio of 6.80. The business’s fifty day moving average is $140.76 and its 200-day moving average is $110.42.
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 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 $15,675,063.60. This represents a 2.83% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Xiaolin Wang sold 2,010 shares of the company’s stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $99.48, for a total value of $199,954.80. Following the sale, the insider owned 116,063 shares of the company’s stock, valued at approximately $11,545,947.24. This represents a 1.70% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 148,592 shares of company stock worth $20,855,132 over the last quarter. 7.60% of the stock is currently owned by company insiders.
Analysts Set New Price Targets
A number of research analysts have commented on the company. Royal Bank Of Canada upped their price objective on Revolution Medicines from $165.00 to $182.00 and gave the company an “outperform” rating in a report on Tuesday, June 2nd. Guggenheim increased their target price on Revolution Medicines to $205.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Evercore reissued an “outperform” rating on shares of Revolution Medicines in a report on Tuesday, April 14th. Wedbush reissued an “outperform” rating on shares of Revolution Medicines in a report on Monday, June 1st. Finally, Sanford C. Bernstein assumed coverage on Revolution Medicines in a report on Thursday, May 21st. They set a “market perform” rating and a $151.00 target price on the stock. Three research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Revolution Medicines presently has an average rating of “Buy” and a consensus target price of $123.72.
Read Our Latest Analysis on RVMD
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.
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