Inceptionr LLC bought a new position in shares of Revolution Medicines, Inc. (NASDAQ:RVMD – Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 13,143 shares of the company’s stock, valued at approximately $1,278,000.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in shares of Revolution Medicines by 6.7% during 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 in the last quarter. Janus Henderson Group PLC grew its position in Revolution Medicines by 8.3% during the 4th quarter. Janus Henderson Group PLC now owns 12,303,502 shares of the company’s stock worth $980,036,000 after acquiring an additional 947,448 shares during the last quarter. Nextech Invest Ltd. increased its holdings in Revolution Medicines by 20.7% in the 4th quarter. Nextech Invest Ltd. now owns 7,601,087 shares of the company’s stock worth $332,472,000 after purchasing an additional 1,304,347 shares in the last quarter. Paradigm Biocapital Advisors LP increased its holdings in Revolution Medicines by 6.8% in the 4th quarter. Paradigm Biocapital Advisors LP now owns 6,644,403 shares of the company’s stock worth $529,227,000 after purchasing an additional 421,112 shares in the last quarter. Finally, Bellevue Group AG raised its position in Revolution Medicines by 21.7% in the third quarter. Bellevue Group AG now owns 5,573,838 shares of the company’s stock valued at $260,298,000 after purchasing an additional 994,538 shares during the last quarter. Institutional investors own 94.34% of the company’s stock.
Revolution Medicines Stock Up 3.1%
Shares of RVMD opened at $188.75 on Friday. The company has a market capitalization of $40.13 billion, a PE ratio of -26.70 and a beta of 1.37. Revolution Medicines, Inc. has a 12 month low of $34.00 and a 12 month high of $193.82. The stock’s 50-day moving average price is $168.00 and its two-hundred day moving average price is $131.32. The company has a current ratio of 6.80, a quick ratio of 6.80 and a debt-to-equity ratio of 0.19.
Analysts Set New Price Targets
RVMD has been the topic of a number of recent research reports. Guggenheim lifted their price target on Revolution Medicines from $205.00 to $235.00 and gave the company a “buy” rating in a research note on Thursday, July 9th. Mizuho upped their price objective on Revolution Medicines from $185.00 to $215.00 and gave the company an “outperform” rating in a research note on Monday, July 6th. Piper Sandler raised their price objective on shares of Revolution Medicines to $172.00 and gave the company an “overweight” rating in a report on Thursday, May 7th. Wedbush lifted their target price on shares of Revolution Medicines from $181.00 to $192.10 and gave the stock an “outperform” rating in a research report on Thursday. Finally, Needham & Company LLC boosted their target price on shares of Revolution Medicines from $235.00 to $236.00 and gave the stock a “buy” rating in a report on Monday. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $144.67.
Get Our Latest Research Report on Revolution Medicines
Insiders Place Their Bets
In other Revolution Medicines news, insider Mark A. Goldsmith sold 10,020 shares of the 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 completion of the sale, the insider owned 267,330 shares of the company’s stock, valued at approximately $41,735,559.60. This represents a 3.61% decrease in their position. The transaction was disclosed in a document filed 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, COO Margaret A. Horn sold 29,600 shares of the firm’s stock in a transaction that occurred 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 owned 154,647 shares of the company’s stock, valued at approximately $24,762,077.64. The trade was a 16.07% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 132,497 shares of company stock valued at $21,470,486 over the last three months. Insiders own 7.60% of the company’s stock.
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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