Zweig DiMenna Associates LLC Takes Position in Revolution Medicines, Inc. $RVMD

Zweig DiMenna Associates LLC purchased a new stake in Revolution Medicines, Inc. (NASDAQ:RVMD) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 104,600 shares of the company’s stock, valued at approximately $8,331,000.

Other large investors have also made changes to their positions in the company. Indiana Trust & Investment Management Co purchased a new stake in shares of Revolution Medicines in the fourth quarter valued at approximately $32,000. Global Retirement Partners LLC grew its position in shares of Revolution Medicines by 1,002.8% in the fourth quarter. Global Retirement Partners LLC now owns 397 shares of the company’s stock valued at $32,000 after purchasing an additional 361 shares in the last quarter. Torren Management LLC purchased a new stake in shares of Revolution Medicines in the fourth quarter valued at approximately $33,000. Darwin Wealth Management LLC purchased a new stake in shares of Revolution Medicines in the fourth quarter valued at approximately $40,000. Finally, Allworth Financial LP grew its position in shares of Revolution Medicines by 57.2% in the fourth quarter. Allworth Financial LP now owns 577 shares of the company’s stock valued at $46,000 after purchasing an additional 210 shares in the last quarter. 94.34% of the stock is currently owned by hedge funds and other institutional investors.

Revolution Medicines Trading Up 1.8%

Shares of Revolution Medicines stock opened at $157.48 on Friday. The firm has a market capitalization of $33.48 billion, a price-to-earnings ratio of -22.27 and a beta of 1.41. Revolution Medicines, Inc. has a fifty-two week low of $34.00 and a fifty-two week high of $158.13. The company has a debt-to-equity ratio of 0.19, a quick ratio of 6.80 and a current ratio of 6.80. The stock has a 50 day moving average of $129.46 and a 200 day moving average of $104.51.

Revolution Medicines (NASDAQ:RVMD) last issued 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 prior year, the firm posted ($1.13) earnings per share. As a group, research analysts predict that Revolution Medicines, Inc. will post -7.75 earnings per share for the current year.

Insider Activity at Revolution Medicines

In other Revolution Medicines news, insider Stephen Michael Kelsey sold 4,302 shares of the company’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 $427,962.96. Following the transaction, the insider directly owned 295,398 shares in the company, valued at $29,386,193.04. This represents a 1.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Margaret A. Horn sold 4,583 shares of the company’s stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $99.48, for a total value of $455,916.84. Following the transaction, the chief operating officer owned 157,570 shares in the company, valued at $15,675,063.60. This trade represents a 2.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 184,592 shares of company stock valued at $24,499,532 over the last ninety days. 8.20% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. Wedbush upped their price target on Revolution Medicines to $165.00 and gave the company an “outperform” rating in a research report on Thursday, May 7th. Truist Financial started coverage on Revolution Medicines in a research report on Monday, May 18th. They issued a “buy” rating and a $179.00 price objective for the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Revolution Medicines in a research report on Tuesday, April 21st. HC Wainwright reiterated a “buy” rating on shares of Revolution Medicines in a research report on Wednesday, April 22nd. Finally, Jefferies Financial Group started coverage on Revolution Medicines in a research report on Monday, March 16th. They issued a “buy” rating for the company. Three analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $111.35.

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.