SG Americas Securities LLC raised its stake in shares of Revolution Medicines, Inc. (NASDAQ:RVMD – Free Report) by 219.5% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 53,426 shares of the company’s stock after purchasing an additional 36,703 shares during the period. SG Americas Securities LLC’s holdings in Revolution Medicines were worth $5,196,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. General Atlantic L.P. bought a new stake in shares of Revolution Medicines in the 3rd quarter valued at about $115,556,000. Norges Bank bought a new position in shares of Revolution Medicines during the fourth quarter worth about $195,568,000. Avoro Capital Advisors LLC bought a new position in shares of Revolution Medicines during the fourth quarter worth about $172,840,000. UBS Group AG lifted its stake in shares of Revolution Medicines by 183.6% in the fourth quarter. UBS Group AG now owns 3,087,937 shares of the company’s stock worth $245,954,000 after acquiring an additional 1,998,972 shares during the period. Finally, Polar Capital Holdings Plc lifted its stake in shares of Revolution Medicines by 321.2% in the fourth quarter. Polar Capital Holdings Plc now owns 2,013,791 shares of the company’s stock worth $160,398,000 after acquiring an additional 1,535,686 shares during the period. 94.34% of the stock is owned by institutional investors and hedge funds.
Insider Activity at Revolution Medicines
In related news, insider Stephen Michael Kelsey sold 4,175 shares of the business’s stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $156.12, for a total transaction of $651,801.00. Following the transaction, the insider owned 291,876 shares in the company, valued at $45,567,681.12. The trade was a 1.41% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Margaret A. Horn sold 29,600 shares of the stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $160.12, for a total transaction of $4,739,552.00. Following the transaction, the chief operating officer directly owned 154,647 shares in the company, valued at approximately $24,762,077.64. This represents a 16.07% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders have sold 246,917 shares of company stock worth $38,432,302. 7.60% of the stock is owned by insiders.
Analyst Upgrades and Downgrades
View Our Latest Stock Analysis on Revolution Medicines
Revolution Medicines Stock Performance
Shares of RVMD stock opened at $182.08 on Monday. The company has a market cap of $38.71 billion, a P/E ratio of -25.75 and a beta of 1.40. The stock has a 50 day simple moving average of $151.78 and a two-hundred day simple moving average of $116.94. 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 fifty-two week low of $34.00 and a fifty-two week high of $184.39.
Revolution Medicines (NASDAQ:RVMD – Get Free Report) last posted 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 period in the previous year, the company posted ($1.13) earnings per share. Research analysts forecast that Revolution Medicines, Inc. will post -7.94 earnings per share for the current year.
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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