SCS Capital Management LLC Acquires Shares of 3,867 Revolution Medicines, Inc. $RVMD

SCS Capital Management LLC acquired a new stake in Revolution Medicines, Inc. (NASDAQ:RVMD) during the fourth quarter, HoldingsChannel.com reports. The fund acquired 3,867 shares of the company’s stock, valued at approximately $308,000.

Other large investors also recently modified their holdings of the company. Indiana Trust & Investment Management Co purchased a new stake in shares of Revolution Medicines in the 4th quarter valued at approximately $32,000. Global Retirement Partners LLC grew its position in shares of 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 during the last quarter. Torren Management LLC purchased a new position in shares of Revolution Medicines in the 4th quarter valued at $33,000. Darwin Wealth Management LLC purchased a new position in shares of Revolution Medicines in the 4th quarter valued at $40,000. Finally, Allworth Financial LP grew its position in shares of Revolution Medicines by 57.2% in the 4th quarter. Allworth Financial LP now owns 577 shares of the company’s stock valued at $46,000 after buying an additional 210 shares during the last quarter. 94.34% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, COO Margaret A. Horn sold 4,583 shares of the firm’s stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $99.48, for a total value of $455,916.84. Following the completion of the sale, the chief operating officer owned 157,570 shares in the company, valued at approximately $15,675,063.60. This trade represents a 2.83% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Stephen Michael Kelsey sold 4,302 shares of the firm’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 $427,962.96. Following the completion of the sale, the insider owned 295,398 shares of the company’s stock, valued at $29,386,193.04. This trade represents a 1.44% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 148,592 shares of company stock worth $20,855,132. 7.60% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on RVMD. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Revolution Medicines in a research report on Tuesday, April 21st. Evercore reaffirmed an “outperform” rating on shares of Revolution Medicines in a research report on Tuesday, April 14th. Wedbush reaffirmed an “outperform” rating on shares of Revolution Medicines in a research report on Monday. HC Wainwright increased their target price on shares of Revolution Medicines from $169.00 to $195.00 and gave the company a “buy” rating in a research report on Monday. Finally, Royal Bank Of Canada increased their target price on shares of Revolution Medicines from $165.00 to $182.00 and gave the company an “outperform” rating in a research report on Tuesday. Three investment 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 assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $123.72.

Revolution Medicines Stock Performance

NASDAQ RVMD opened at $151.31 on Wednesday. The company has a quick ratio of 6.80, a current ratio of 6.80 and a debt-to-equity ratio of 0.19. Revolution Medicines, Inc. has a 52-week low of $34.00 and a 52-week high of $166.50. The business’s 50-day moving average price is $130.74 and its 200 day moving average price is $105.50. The firm has a market cap of $32.17 billion, a P/E ratio of -21.40 and a beta of 1.40.

Revolution Medicines (NASDAQ:RVMD) last released 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 firm earned ($1.13) earnings per share. On average, equities research analysts expect that Revolution Medicines, Inc. will post -7.75 earnings per share for the current year.

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.