Legato Capital Management LLC Has $1.62 Million Holdings in Revolution Medicines, Inc. $RVMD

Legato Capital Management LLC raised its position in Revolution Medicines, Inc. (NASDAQ:RVMD) by 130.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 34,654 shares of the company’s stock after purchasing an additional 19,637 shares during the quarter. Legato Capital Management LLC’s holdings in Revolution Medicines were worth $1,618,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of RVMD. CWM LLC grew its holdings in shares of Revolution Medicines by 171.3% during the second quarter. CWM LLC now owns 917 shares of the company’s stock worth $34,000 after buying an additional 579 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of Revolution Medicines by 45.1% during the 3rd quarter. GAMMA Investing LLC now owns 837 shares of the company’s stock worth $39,000 after acquiring an additional 260 shares in the last quarter. AlphaQuest LLC bought a new position in shares of Revolution Medicines during the 2nd quarter worth approximately $73,000. Osaic Holdings Inc. raised its holdings in shares of Revolution Medicines by 41.7% in the second quarter. Osaic Holdings Inc. now owns 3,487 shares of the company’s stock valued at $128,000 after purchasing an additional 1,027 shares during the last quarter. Finally, US Bancorp DE lifted its position in shares of Revolution Medicines by 170.3% in the third quarter. US Bancorp DE now owns 3,168 shares of the company’s stock worth $148,000 after purchasing an additional 1,996 shares in the last quarter. 94.34% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

RVMD has been the subject of a number of analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Revolution Medicines in a research report on Thursday, January 22nd. Evercore upgraded Revolution Medicines to a “strong-buy” rating in a report on Wednesday, February 25th. Wolfe Research assumed coverage on Revolution Medicines in a report on Tuesday, November 18th. They set an “outperform” rating and a $75.00 target price on the stock. Royal Bank Of Canada assumed coverage on Revolution Medicines in a research report on Monday, November 3rd. They set an “outperform” rating and a $77.00 price target on the stock. Finally, Needham & Company LLC upped their price objective on Revolution Medicines from $66.00 to $72.00 and gave the stock a “buy” rating in a research note on Thursday, November 6th. Four research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $78.94.

Revolution Medicines Trading Down 0.4%

Shares of RVMD stock opened at $101.62 on Tuesday. Revolution Medicines, Inc. has a 12-month low of $29.17 and a 12-month high of $124.49. The firm has a 50 day moving average price of $99.60 and a two-hundred day moving average price of $71.30. The company has a quick ratio of 7.14, a current ratio of 7.14 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $20.14 billion, a PE ratio of -17.19 and a beta of 0.99.

Revolution Medicines (NASDAQ:RVMD) last announced its earnings results on Wednesday, February 25th. The company reported ($1.86) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.56) by ($0.30). During the same period in the prior year, the company posted ($1.12) earnings per share. As a group, analysts predict that Revolution Medicines, Inc. will post -3.49 earnings per share for the current year.

Insider Transactions at Revolution Medicines

In other news, CFO Jack Anders sold 10,000 shares of the business’s stock in a transaction dated Wednesday, January 7th. The shares were sold at an average price of $98.00, for a total value of $980,000.00. Following the completion of the sale, the chief financial officer owned 108,065 shares of the company’s stock, valued at approximately $10,590,370. The trade was a 8.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Mark A. Goldsmith sold 15,394 shares of the company’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 $1,182,567.08. Following the sale, the insider directly owned 232,469 shares of the company’s stock, valued at $17,858,268.58. This represents a 6.21% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 113,792 shares of company stock worth $10,734,640 over the last ninety days. Corporate insiders own 8.20% 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.