Seven Fleet Capital Management LP Invests $5.24 Million in Revolution Medicines, Inc. $RVMD

Seven Fleet Capital Management LP purchased a new position in shares of Revolution Medicines, Inc. (NASDAQ:RVMD) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 65,800 shares of the company’s stock, valued at approximately $5,241,000. Revolution Medicines comprises approximately 4.0% of Seven Fleet Capital Management LP’s portfolio, making the stock its 3rd largest holding.

Other hedge funds also recently bought and sold shares of the company. Global Retirement Partners LLC lifted its position in shares of Revolution Medicines by 1,002.8% during the fourth 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. Indiana Trust & Investment Management Co bought a new stake in Revolution Medicines during the 4th quarter valued at about $32,000. Torren Management LLC purchased a new stake in Revolution Medicines in the 4th quarter valued at about $33,000. Arax Advisory Partners purchased a new stake in Revolution Medicines in the 4th quarter valued at about $38,000. Finally, Darwin Wealth Management LLC bought a new position in Revolution Medicines in the 4th quarter worth about $40,000. Institutional investors own 94.34% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on RVMD. Evercore reaffirmed an “outperform” rating on shares of Revolution Medicines in a research note on Tuesday, April 14th. Royal Bank Of Canada increased their price objective on Revolution Medicines from $165.00 to $182.00 and gave the stock an “outperform” rating in a research note on Tuesday, June 2nd. Truist Financial started coverage on Revolution Medicines in a report on Monday, May 18th. They set a “buy” rating and a $179.00 price objective on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Revolution Medicines in a research report on Tuesday, April 21st. Finally, Stifel Nicolaus reiterated a “buy” rating on shares of Revolution Medicines in a report on Monday, April 20th. Three investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $123.72.

Revolution Medicines Trading Up 3.3%

NASDAQ:RVMD opened at $162.99 on Friday. The firm has a 50-day simple moving average of $145.72 and a 200-day simple moving average of $112.99. Revolution Medicines, Inc. has a one year low of $34.00 and a one year high of $166.50. The firm has a market cap of $34.65 billion, a P/E ratio of -23.05 and a beta of 1.40. 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 data on Wednesday, May 6th. The company reported ($2.29) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.83) by ($0.46). During the same quarter in the previous year, the company posted ($1.13) EPS. Equities analysts anticipate that Revolution Medicines, Inc. will post -7.94 EPS for the current fiscal year.

Insider Buying and Selling

In other Revolution Medicines news, CFO Jack Anders sold 2,722 shares of the stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $156.12, for a total transaction of $424,958.64. Following the sale, the chief financial officer owned 123,269 shares of the company’s stock, valued at approximately $19,244,756.28. This trade represents a 2.16% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Mark A. Goldsmith sold 10,020 shares of Revolution Medicines stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $156.12, for a total value of $1,564,322.40. Following the completion of the transaction, the insider owned 267,330 shares in the company, valued at $41,735,559.60. This represents a 3.61% decrease in their ownership of the stock. 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. Insiders have sold 226,917 shares of company stock worth $35,065,702 in the last three months. Corporate insiders own 7.60% of the company’s stock.

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.