Seven Fleet Capital Management LP Has $7.86 Million Holdings in Revolution Medicines, Inc. $RVMD

Seven Fleet Capital Management LP lifted its stake in Revolution Medicines, Inc. (NASDAQ:RVMD) by 22.8% during the first quarter, Holdings Channel.com reports. The fund owned 80,792 shares of the company’s stock after buying an additional 14,992 shares during the period. Revolution Medicines accounts for approximately 2.5% of Seven Fleet Capital Management LP’s holdings, making the stock its 7th largest holding. Seven Fleet Capital Management LP’s holdings in Revolution Medicines were worth $7,857,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of RVMD. Indiana Trust & Investment Management Co acquired a new position in Revolution Medicines during the fourth quarter valued at approximately $32,000. Global Retirement Partners LLC increased its position in shares of Revolution Medicines by 1,002.8% during the 4th quarter. Global Retirement Partners LLC now owns 397 shares of the company’s stock worth $32,000 after purchasing an additional 361 shares during the last quarter. Torren Management LLC acquired a new position in shares of Revolution Medicines during the 4th quarter worth approximately $33,000. Arax Advisory Partners bought a new stake in shares of Revolution Medicines during the 4th quarter worth approximately $38,000. Finally, Darwin Wealth Management LLC bought a new stake in shares of Revolution Medicines during the 4th quarter worth approximately $40,000. Institutional investors own 94.34% of the company’s stock.

Insider Buying and Selling

In related news, COO Margaret A. Horn sold 29,600 shares of the company’s stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $160.12, for a total value of $4,739,552.00. Following the transaction, the chief operating officer directly owned 154,647 shares in the company, valued at approximately $24,762,077.64. This represents a 16.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Sushil Patel sold 5,580 shares of the firm’s stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $187.99, for a total transaction of $1,048,984.20. Following the transaction, the director directly owned 21,656 shares in the company, valued at approximately $4,071,111.44. This represents a 20.49% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 132,497 shares of company stock valued at $21,470,486 in the last 90 days. 7.60% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

RVMD has been the subject of several recent analyst reports. Wedbush increased their price objective on Revolution Medicines from $181.00 to $192.10 and gave the company an “outperform” rating in a report on Thursday, July 23rd. Truist Financial increased their price target on shares of Revolution Medicines from $179.00 to $210.00 and gave the company a “buy” rating in a research note on Tuesday, June 30th. Piper Sandler increased their price target on shares of Revolution Medicines to $172.00 and gave the company an “overweight” rating in a research note on Thursday, May 7th. Guggenheim lifted their price objective on shares of Revolution Medicines from $205.00 to $235.00 and gave the company a “buy” rating in a research report on Thursday, July 9th. Finally, Needham & Company LLC boosted their price objective on shares of Revolution Medicines from $235.00 to $236.00 and gave the stock a “buy” rating in a research note on Monday, July 20th. Two 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 given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $144.67.

Revolution Medicines Stock Performance

RVMD opened at $187.53 on Friday. The business has a fifty day simple moving average of $172.57 and a 200 day simple moving average of $134.85. The company has a market capitalization of $39.87 billion, a PE ratio of -26.52 and a beta of 1.37. Revolution Medicines, Inc. has a 1 year low of $34.00 and a 1 year high of $194.56. The company has a debt-to-equity ratio of 0.19, a current ratio of 6.80 and a quick ratio of 6.80.

Revolution Medicines (NASDAQ:RVMD) last posted its quarterly earnings data on Wednesday, May 6th. The company reported ($2.29) earnings per share for the quarter, missing the consensus estimate of ($1.83) by ($0.46). During the same period in the previous year, the company posted ($1.13) earnings per share. Research analysts expect that Revolution Medicines, Inc. will post -7.92 EPS for the current year.

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.