SCS Capital Management LLC Makes New $724,000 Investment in Revolution Medicines, Inc. $RVMD

SCS Capital Management LLC purchased a new position in shares of Revolution Medicines, Inc. (NASDAQ:RVMD) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 3,867 shares of the company’s stock, valued at approximately $724,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank bought a new position in Revolution Medicines during the fourth quarter worth about $195,568,000. Avoro Capital Advisors LLC bought a new stake in shares of Revolution Medicines in the fourth quarter worth about $172,840,000. UBS Group AG increased its holdings in shares of Revolution Medicines by 183.6% in the fourth quarter. UBS Group AG now owns 3,087,937 shares of the company’s stock worth $245,954,000 after acquiring an additional 1,998,972 shares in the last quarter. Polar Capital Holdings Plc increased its holdings in shares of Revolution Medicines by 321.2% in the fourth quarter. Polar Capital Holdings Plc now owns 2,013,791 shares of the company’s stock worth $160,398,000 after acquiring an additional 1,535,686 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. raised its position in shares of Revolution Medicines by 197.1% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 2,205,555 shares of the company’s stock worth $175,672,000 after purchasing an additional 1,463,155 shares during the period. Institutional investors and hedge funds own 94.34% of the company’s stock.

Revolution Medicines Stock Performance

Shares of Revolution Medicines stock opened at $203.71 on Monday. 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 has a market cap of $43.66 billion, a price-to-earnings ratio of -23.10 and a beta of 1.39. The stock’s 50-day moving average is $181.62 and its 200-day moving average is $140.79. Revolution Medicines, Inc. has a one year low of $35.42 and a one year high of $208.76.

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

Insider Activity

In other Revolution Medicines news, COO Margaret A. Horn sold 60,400 shares of the company’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $160.17, for a total transaction of $9,674,268.00. Following the completion of the transaction, the chief operating officer owned 158,222 shares of the company’s stock, valued at $25,342,417.74. This represents a 27.63% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Stephen Michael Kelsey sold 4,175 shares of the firm’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 directly owned 291,876 shares of the company’s stock, valued at $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. Over the last quarter, insiders have sold 132,497 shares of company stock worth $21,470,486. 7.60% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on RVMD shares. Oppenheimer reiterated an “outperform” rating and issued a $230.00 price objective on shares of Revolution Medicines in a research report on Thursday, August 6th. Sanford C. Bernstein started coverage on shares of Revolution Medicines in a report on Thursday, May 21st. They set a “market perform” rating and a $151.00 target price on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Revolution Medicines in a report on Friday, July 17th. Wedbush lifted their price target on shares of Revolution Medicines from $192.10 to $201.00 and gave the company an “outperform” rating in a research note on Thursday, August 6th. Finally, Mizuho upped their price target on shares of Revolution Medicines from $185.00 to $215.00 and gave the company an “outperform” rating in a report on Monday, July 6th. One analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $161.79.

Revolution Medicines 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.