Revolution Medicines, Inc. $RVMD Stock Holdings Lifted by Persistent Asset Partners Ltd

Persistent Asset Partners Ltd raised its position in Revolution Medicines, Inc. (NASDAQ:RVMD) by 28.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,537 shares of the company’s stock after purchasing an additional 3,910 shares during the quarter. Persistent Asset Partners Ltd’s holdings in Revolution Medicines were worth $1,397,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in Revolution Medicines by 6.7% in the fourth quarter. Vanguard Group Inc. now owns 16,719,886 shares of the company’s stock valued at $1,331,739,000 after purchasing an additional 1,056,792 shares in the last quarter. Farallon Capital Management LLC grew its stake in Revolution Medicines by 2.1% in the third quarter. Farallon Capital Management LLC now owns 14,625,692 shares of the company’s stock valued at $683,020,000 after purchasing an additional 300,000 shares in the last quarter. Baker BROS. Advisors LP grew its stake in Revolution Medicines by 1.0% in the third quarter. Baker BROS. Advisors LP now owns 9,455,357 shares of the company’s stock valued at $441,565,000 after purchasing an additional 90,385 shares in the last quarter. Nextech Invest Ltd. boosted its stake in shares of Revolution Medicines by 20.7% during the 4th 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 in the last quarter. Finally, Paradigm Biocapital Advisors LP boosted its stake in shares of Revolution Medicines by 2.1% during the 3rd quarter. Paradigm Biocapital Advisors LP now owns 6,223,291 shares of the company’s stock worth $290,628,000 after acquiring an additional 130,000 shares in the last quarter. Hedge funds and other institutional investors own 94.34% of the company’s stock.

Insider Buying and Selling at Revolution Medicines

In related news, insider Mark A. Goldsmith sold 120,000 shares of the business’s stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $150.09, for a total transaction of $18,010,800.00. Following the completion of the transaction, the insider owned 276,698 shares of the company’s stock, valued at approximately $41,529,602.82. The trade was a 30.25% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 7.60% of the company’s stock.

Revolution Medicines Stock Performance

RVMD opened at $156.58 on Wednesday. The company has a market cap of $33.29 billion, a PE ratio of -22.15 and a beta of 1.40. The stock has a 50-day moving average of $143.13 and a 200-day moving average of $111.82. Revolution Medicines, Inc. has a 52-week low of $34.00 and a 52-week high of $166.50. 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 (NASDAQ:RVMD) last released its quarterly earnings results 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 period in the prior year, the company posted ($1.13) earnings per share. As a group, equities research analysts forecast that Revolution Medicines, Inc. will post -7.94 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

RVMD has been the subject of several recent analyst reports. UBS Group initiated coverage on Revolution Medicines in a research note on Friday, February 27th. They set a “buy” rating for the company. HC Wainwright upped their price target on Revolution Medicines from $169.00 to $195.00 and gave the stock a “buy” rating in a research note on Monday, June 1st. Stifel Nicolaus reiterated a “buy” rating on shares of Revolution Medicines in a research note on Monday, April 20th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Revolution Medicines in a research note on Tuesday, April 21st. Finally, Sanford C. Bernstein initiated coverage on Revolution Medicines in a research note on Thursday, May 21st. They set a “market perform” rating and a $151.00 price target for the company. Three equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $123.72.

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.