Inceptionr LLC Buys New Position in Revolution Medicines, Inc. $RVMD

Inceptionr LLC bought a new position in shares of Revolution Medicines, Inc. (NASDAQ:RVMD) in the 1st quarter, Holdings Channel reports. The fund bought 13,143 shares of the company’s stock, valued at approximately $1,278,000.

A number of other hedge funds have also added to or reduced their stakes in the business. Lido Advisors LLC acquired a new position in Revolution Medicines in the first quarter valued at approximately $255,000. Walleye Capital LLC bought a new position in shares of Revolution Medicines during the 1st quarter worth approximately $3,073,000. Cetera Investment Advisers acquired a new stake in shares of Revolution Medicines during the 1st quarter worth approximately $409,000. First Trust Advisors LP grew its position in shares of Revolution Medicines by 80.3% during the 1st quarter. First Trust Advisors LP now owns 70,970 shares of the company’s stock worth $6,902,000 after buying an additional 31,605 shares during the period. Finally, ABN Amro Investment Solutions bought a new stake in shares of Revolution Medicines in the 1st quarter valued at $661,000. 94.34% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently weighed in on RVMD shares. Royal Bank Of Canada upped their price objective on shares of Revolution Medicines from $165.00 to $182.00 and gave the company an “outperform” rating in a report on Tuesday, June 2nd. Evercore reaffirmed an “outperform” rating on shares of Revolution Medicines in a research note on Tuesday, April 14th. Piper Sandler increased their price target on Revolution Medicines to $172.00 and gave the stock an “overweight” rating in a report on Thursday, May 7th. Needham & Company LLC raised their price objective on Revolution Medicines from $235.00 to $236.00 and gave the company a “buy” rating in a research note on Monday. Finally, Mizuho boosted their price objective on Revolution Medicines from $185.00 to $215.00 and gave the company an “outperform” rating in a report on Monday, July 6th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Revolution Medicines has a consensus rating of “Moderate Buy” and a consensus price target of $144.67.

Insiders Place Their Bets

In other Revolution Medicines news, COO Margaret A. Horn sold 60,400 shares of the business’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $160.17, for a total transaction of $9,674,268.00. Following the completion of the sale, the chief operating officer directly owned 158,222 shares of the company’s stock, valued at approximately $25,342,417.74. The trade was a 27.63% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Stephen Michael Kelsey sold 4,175 shares of the stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $156.12, for a total value of $651,801.00. Following the completion of the sale, the insider directly owned 291,876 shares of the company’s stock, valued at approximately $45,567,681.12. This trade represents a 1.41% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 132,497 shares of company stock worth $21,470,486 in the last 90 days. Company insiders own 7.60% of the company’s stock.

Revolution Medicines Stock Up 3.1%

Revolution Medicines stock opened at $188.75 on Friday. Revolution Medicines, Inc. has a 1-year low of $34.00 and a 1-year high of $193.82. The firm has a market capitalization of $40.13 billion, a price-to-earnings ratio of -26.70 and a beta of 1.37. The firm’s fifty day moving average price is $168.00 and its two-hundred day moving average price is $131.32. The company has a current ratio of 6.80, a quick ratio of 6.80 and a debt-to-equity ratio of 0.19.

Revolution Medicines (NASDAQ:RVMD) last issued 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 business posted ($1.13) EPS. On average, equities research analysts predict that Revolution Medicines, Inc. will post -7.9 earnings per share for the current fiscal year.

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.