Persistent Asset Partners Ltd Purchases Shares of 38,726 Revolution Medicines, Inc. $RVMD

Persistent Asset Partners Ltd acquired a new position in shares of Revolution Medicines, Inc. (NASDAQ:RVMD) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 38,726 shares of the company’s stock, valued at approximately $7,253,000. Revolution Medicines accounts for about 2.2% of Persistent Asset Partners Ltd’s holdings, making the stock its 8th biggest position.

Other institutional investors also recently bought and sold shares of the company. Contravisory Investment Management Inc. acquired a new position in shares of Revolution Medicines during the 2nd quarter valued at $32,000. Harbor Investment Advisory LLC purchased a new stake in Revolution Medicines during the 2nd quarter worth $70,000. Global Retirement Partners LLC increased its holdings 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 in the last quarter. Torren Management LLC acquired a new stake in Revolution Medicines in the 4th quarter valued at $33,000. Finally, Arax Advisory Partners purchased a new position in Revolution Medicines in the fourth quarter valued at about $38,000. 94.34% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have commented on RVMD shares. Truist Financial boosted their price objective on Revolution Medicines from $210.00 to $231.00 and gave the stock a “buy” rating in a research note on Tuesday, August 11th. Needham & Company LLC increased their target price on Revolution Medicines from $236.00 to $240.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Piper Sandler raised their target price on Revolution Medicines to $172.00 and gave the company an “overweight” rating in a report on Thursday, May 7th. Wedbush boosted their price target on Revolution Medicines from $192.10 to $201.00 and gave the stock an “outperform” rating in a research report on Thursday, August 6th. Finally, Guggenheim upped their price target on Revolution Medicines from $235.00 to $240.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $161.79.

Revolution Medicines Stock Performance

Revolution Medicines stock opened at $203.71 on Monday. Revolution Medicines, Inc. has a 12-month low of $35.42 and a 12-month high of $208.76. The company has a market capitalization of $43.66 billion, a price-to-earnings ratio of -23.10 and a beta of 1.39. The company has a debt-to-equity ratio of 0.40, a current ratio of 11.38 and a quick ratio of 11.38. The firm’s fifty day moving average price is $181.62 and its 200 day moving average price is $140.79.

Revolution Medicines (NASDAQ:RVMD) last issued its quarterly earnings data on Wednesday, August 5th. The company reported ($3.06) EPS for the quarter, missing analysts’ consensus estimates of ($2.04) by ($1.02). During the same period in the previous year, the business posted ($1.31) EPS. On average, research analysts forecast that Revolution Medicines, Inc. will post -8.82 EPS for the current fiscal year.

Insider Buying and Selling at Revolution Medicines

In related news, CFO Jack Anders sold 20,000 shares of the stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of $168.33, for a total value of $3,366,600.00. Following the completion of the transaction, the chief financial officer owned 123,269 shares of the company’s stock, valued at approximately $20,749,870.77. This represents a 13.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Sushil Patel sold 5,580 shares of the firm’s stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $187.99, for a total value of $1,048,984.20. Following the sale, the director owned 21,656 shares of the company’s stock, valued at approximately $4,071,111.44. This trade represents a 20.49% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 132,497 shares of company stock valued at $21,470,486. Company 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.