138,290 Shares in Revolution Medicines, Inc. $RVMD Acquired by PSquared Asset Management AG

PSquared Asset Management AG bought a new position in shares of Revolution Medicines, Inc. (NASDAQ:RVMD) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 138,290 shares of the company’s stock, valued at approximately $13,449,000. Revolution Medicines makes up 4.7% of PSquared Asset Management AG’s holdings, making the stock its 10th biggest position. PSquared Asset Management AG owned 0.07% of Revolution Medicines as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Meeder Advisory Services Inc. lifted its position in shares of Revolution Medicines by 3.0% during the 1st quarter. Meeder Advisory Services Inc. now owns 4,126 shares of the company’s stock worth $401,000 after buying an additional 120 shares during the last quarter. PNC Financial Services Group Inc. raised its position in Revolution Medicines by 1.3% in the fourth quarter. PNC Financial Services Group Inc. now owns 10,066 shares of the company’s stock worth $802,000 after acquiring an additional 125 shares in the last quarter. Deutsche Bank AG boosted its stake in shares of Revolution Medicines by 0.4% during the 4th quarter. Deutsche Bank AG now owns 32,217 shares of the company’s stock worth $2,566,000 after acquiring an additional 130 shares in the last quarter. Signaturefd LLC increased its stake in shares of Revolution Medicines by 33.1% during the 4th quarter. Signaturefd LLC now owns 656 shares of the company’s stock worth $52,000 after purchasing an additional 163 shares in the last quarter. Finally, Allworth Financial LP raised its stake in 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 purchasing an additional 210 shares during the last quarter. Hedge funds and other institutional investors own 94.34% of the company’s stock.

Revolution Medicines Trading Up 3.1%

NASDAQ:RVMD opened at $188.75 on Friday. The company has a market capitalization of $40.13 billion, a P/E ratio of -26.70 and a beta of 1.37. The stock’s 50 day moving average price is $168.00 and its 200 day moving average price is $131.32. The company has a debt-to-equity ratio of 0.19, a quick ratio of 6.80 and a current ratio of 6.80. Revolution Medicines, Inc. has a 52 week low of $34.00 and a 52 week high of $193.82.

Revolution Medicines (NASDAQ:RVMD) last released its quarterly earnings data on Wednesday, May 6th. The company reported ($2.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.83) by ($0.46). During the same quarter last year, the business earned ($1.13) EPS. On average, research analysts forecast that Revolution Medicines, Inc. will post -7.9 EPS for the current fiscal year.

Insider Activity

In related news, CFO Jack Anders sold 20,000 shares of the business’s stock in a transaction 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 transaction, the chief financial officer 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 ownership of the stock. The sale was disclosed in a legal filing 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 dated Tuesday, June 16th. The shares were 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 position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders have sold 132,497 shares of company stock worth $21,470,486. Insiders own 7.60% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Guggenheim increased their target price on Revolution Medicines from $205.00 to $235.00 and gave the stock a “buy” rating in a research report on Thursday, July 9th. Oppenheimer upped 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. Evercore reiterated an “outperform” rating on shares of Revolution Medicines in a research report on Tuesday, April 14th. Royal Bank Of Canada lifted their price objective on shares of Revolution Medicines from $165.00 to $182.00 and gave the stock an “outperform” rating in a research note on Tuesday, June 2nd. Finally, Mizuho upped their price objective on shares of Revolution Medicines from $185.00 to $215.00 and gave the company an “outperform” rating in a research note on Monday, July 6th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $144.67.

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.