Profund Advisors LLC Acquires 6,585 Shares of Revolution Medicines, Inc. $RVMD

Profund Advisors LLC increased its stake in Revolution Medicines, Inc. (NASDAQ:RVMD) by 21.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 37,079 shares of the company’s stock after purchasing an additional 6,585 shares during the period. Profund Advisors LLC’s holdings in Revolution Medicines were worth $1,732,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Nextech Invest Ltd. increased its holdings in shares of 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 buying an additional 1,304,347 shares during the last quarter. Millennium Management LLC grew its position in Revolution Medicines by 681.8% in the first quarter. Millennium Management LLC now owns 156,353 shares of the company’s stock worth $5,529,000 after acquiring an additional 136,353 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Revolution Medicines by 14.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 300,196 shares of the company’s stock valued at $10,615,000 after acquiring an additional 37,345 shares during the last quarter. KLP Kapitalforvaltning AS raised its position in Revolution Medicines by 4.7% during the second quarter. KLP Kapitalforvaltning AS now owns 28,904 shares of the company’s stock valued at $1,063,000 after purchasing an additional 1,300 shares in the last quarter. Finally, Maryland State Retirement & Pension System bought a new stake in Revolution Medicines during the second quarter worth about $310,000. 94.34% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, insider Mark A. Goldsmith sold 60,000 shares of Revolution Medicines stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $75.08, for a total value of $4,504,800.00. Following the sale, the insider owned 247,863 shares in the company, valued at $18,609,554.04. The trade was a 19.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Stephen Michael Kelsey sold 5,447 shares of the firm’s stock in a transaction dated Tuesday, December 16th. The stock was sold at an average price of $76.82, for a total transaction of $418,438.54. Following the completion of the sale, the insider directly owned 278,600 shares of the company’s stock, valued at approximately $21,402,052. This represents a 1.92% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 213,792 shares of company stock valued at $17,948,440 over the last three months. 8.20% of the stock is currently owned by corporate insiders.

Revolution Medicines Stock Performance

Shares of NASDAQ:RVMD opened at $96.74 on Tuesday. The company has a current ratio of 8.05, a quick ratio of 8.05 and a debt-to-equity ratio of 0.16. The company has a 50-day moving average price of $92.93 and a 200-day moving average price of $64.55. The company has a market cap of $18.70 billion, a price-to-earnings ratio of -18.71 and a beta of 1.00. Revolution Medicines, Inc. has a 12 month low of $29.17 and a 12 month high of $124.49.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on RVMD. UBS Group raised Revolution Medicines to a “strong-buy” rating in a report on Thursday, December 4th. National Bankshares set a $80.00 price objective on shares of Revolution Medicines in a report on Friday, October 17th. Wolfe Research assumed coverage on shares of Revolution Medicines in a report on Tuesday, November 18th. They set an “outperform” rating and a $75.00 target price on the stock. Needham & Company LLC lifted their target price on shares of Revolution Medicines from $66.00 to $72.00 and gave the stock a “buy” rating in a research report on Thursday, November 6th. Finally, Royal Bank Of Canada started coverage on Revolution Medicines in a research note on Monday, November 3rd. They set an “outperform” rating and a $77.00 price objective on the stock. Four analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy 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 price target of $78.94.

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.