PSP Research LLC Purchases Shares of 6,872 Revolution Medicines, Inc. $RVMD

PSP Research LLC purchased a new stake in shares of Revolution Medicines, Inc. (NASDAQ:RVMD) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 6,872 shares of the company’s stock, valued at approximately $547,000. Revolution Medicines accounts for approximately 0.5% of PSP Research LLC’s investment portfolio, making the stock its 14th biggest holding.

Other large investors have also made changes to their positions in the company. General Atlantic L.P. acquired a new stake in Revolution Medicines during the third quarter worth about $115,556,000. UBS Group AG boosted its stake 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 during the last quarter. Nextech Invest Ltd. boosted its stake in shares of Revolution Medicines by 20.7% in the fourth quarter. Nextech Invest Ltd. now owns 7,601,087 shares of the company’s stock worth $332,472,000 after acquiring an additional 1,304,347 shares during the last quarter. Vestal Point Capital LP acquired a new stake in shares of Revolution Medicines in the second quarter worth approximately $44,148,000. Finally, Vanguard Group Inc. boosted its stake in shares of Revolution Medicines by 6.7% in the fourth quarter. Vanguard Group Inc. now owns 16,719,886 shares of the company’s stock worth $1,331,739,000 after acquiring an additional 1,056,792 shares during the last quarter. 94.34% of the stock is currently owned by institutional investors.

Insider Activity at Revolution Medicines

In other Revolution Medicines news, CFO Jack Anders sold 2,753 shares of the business’s stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $99.48, for a total transaction of $273,868.44. Following the transaction, the chief financial officer owned 125,512 shares of the company’s stock, valued at approximately $12,485,933.76. The trade was a 2.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Stephen Michael Kelsey sold 4,302 shares of Revolution Medicines stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $99.48, for a total value of $427,962.96. Following the completion of the sale, the insider owned 295,398 shares in the company, valued at $29,386,193.04. This represents a 1.44% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 184,592 shares of company stock valued at $24,499,532 in the last three months. Company insiders own 8.20% of the company’s stock.

Revolution Medicines Stock Performance

NASDAQ RVMD opened at $147.30 on Wednesday. The stock’s fifty day moving average is $120.60 and its two-hundred day moving average is $99.54. The firm has a market capitalization of $31.32 billion, a P/E ratio of -20.83 and a beta of 1.41. 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 fifty-two week low of $34.00 and a fifty-two week high of $155.70.

Revolution Medicines (NASDAQ:RVMD) last released its quarterly earnings data on Wednesday, May 6th. The company reported ($2.29) earnings per share 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. On average, research analysts anticipate that Revolution Medicines, Inc. will post -7.75 earnings per share for the current year.

Wall Street Analysts Forecast Growth

RVMD has been the topic of a number of research analyst reports. Guggenheim lifted their price target on Revolution Medicines to $205.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Piper Sandler lifted their price target on Revolution Medicines to $172.00 and gave the stock an “overweight” rating in a research note on Thursday, May 7th. Truist Financial initiated coverage on Revolution Medicines in a research note on Monday. They issued a “buy” rating and a $179.00 price target on the stock. Benchmark reaffirmed an “overweight” rating on shares of Revolution Medicines in a research note on Tuesday, February 17th. Finally, Evercore reaffirmed an “outperform” rating on shares of Revolution Medicines in a research note on Tuesday, April 14th. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, Revolution Medicines currently has an average rating of “Buy” and a consensus target price of $108.88.

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.