Edgestream Partners L.P. Purchases New Position in Revolution Medicines, Inc. $RVMD

Edgestream Partners L.P. purchased a new stake in Revolution Medicines, Inc. (NASDAQ:RVMD) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 69,262 shares of the company’s stock, valued at approximately $6,736,000.

Several other hedge funds have also recently bought and sold shares of RVMD. Indiana Trust & Investment Management Co acquired a new stake in Revolution Medicines during the 4th quarter worth approximately $32,000. Global Retirement Partners LLC boosted its stake 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 purchasing an additional 361 shares during the period. 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 bought a new position in Revolution Medicines during the 4th quarter worth $40,000. 94.34% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

RVMD has been the subject of a number of research reports. Royal Bank Of Canada lifted their target price on Revolution Medicines from $165.00 to $182.00 and gave the stock an “outperform” rating in a report on Tuesday, June 2nd. Truist Financial upped their price target on shares of Revolution Medicines from $179.00 to $210.00 and gave the company a “buy” rating in a research note on Tuesday, June 30th. Oppenheimer raised their price target on shares of Revolution Medicines from $165.00 to $195.00 and gave the stock an “outperform” rating in a research report on Monday, June 1st. Mizuho lifted their price objective on shares of Revolution Medicines from $185.00 to $215.00 and gave the stock an “outperform” rating in a research note on Monday, July 6th. Finally, Evercore reissued an “outperform” rating on shares of Revolution Medicines in a report on Tuesday, April 14th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Revolution Medicines currently has an average rating of “Moderate Buy” and an average target price of $144.67.

Insider Activity

In related news, CFO Jack Anders sold 20,000 shares of Revolution Medicines stock in a transaction that occurred on Wednesday, June 24th. The shares were sold at an average price of $168.33, for a total transaction of $3,366,600.00. Following the sale, the chief financial officer directly owned 123,269 shares of the company’s stock, valued at approximately $20,749,870.77. The trade was a 13.96% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Stephen Michael Kelsey sold 4,175 shares of the company’s stock in a transaction that occurred on Tuesday, June 16th. The stock was 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 of the company’s stock, valued at approximately $45,567,681.12. This represents a 1.41% decrease in their ownership of the stock. 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. In the last 90 days, insiders have sold 132,497 shares of company stock valued at $21,470,486. Corporate insiders own 7.60% of the company’s stock.

Revolution Medicines Trading Up 6.2%

Shares of RVMD opened at $192.17 on Friday. Revolution Medicines, Inc. has a 52-week low of $34.00 and a 52-week high of $194.56. The business’s fifty day moving average is $171.85 and its 200-day moving average is $134.48. 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 firm has a market cap of $40.85 billion, a price-to-earnings ratio of -27.18 and a beta of 1.37.

Revolution Medicines (NASDAQ:RVMD) last posted its quarterly earnings results on Wednesday, May 6th. The company reported ($2.29) EPS for the quarter, missing analysts’ consensus estimates of ($1.83) by ($0.46). During the same period in the prior year, the business earned ($1.13) earnings per share. Equities analysts anticipate that Revolution Medicines, Inc. will post -7.92 EPS for the current fiscal 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.