S&CO Inc. Invests $6.40 Million in Revolution Medicines, Inc. $RVMD

S&CO Inc. bought a new position in shares of Revolution Medicines, Inc. (NASDAQ:RVMD) during the 2nd quarter, HoldingsChannel reports. The fund bought 34,171 shares of the company’s stock, valued at approximately $6,399,000.

A number of other hedge funds also recently modified their holdings of the stock. Meeder Advisory Services Inc. raised its stake in Revolution Medicines by 3.0% in the first quarter. Meeder Advisory Services Inc. now owns 4,126 shares of the company’s stock valued at $401,000 after purchasing an additional 120 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in Revolution Medicines by 1.3% during the fourth quarter. PNC Financial Services Group Inc. now owns 10,066 shares of the company’s stock worth $802,000 after buying an additional 125 shares in the last quarter. Deutsche Bank AG grew its stake in Revolution Medicines by 0.4% during the fourth quarter. Deutsche Bank AG now owns 32,217 shares of the company’s stock worth $2,566,000 after buying an additional 130 shares in the last quarter. Contravisory Investment Management Inc. bought a new position in Revolution Medicines in the 2nd quarter valued at about $32,000. Finally, Allworth Financial LP increased its holdings in Revolution Medicines by 57.2% in the 4th quarter. Allworth Financial LP now owns 577 shares of the company’s stock valued at $46,000 after buying an additional 210 shares during the period. Institutional investors own 94.34% of the company’s stock.

Insider Activity at Revolution Medicines

In related news, CFO Jack Anders sold 20,000 shares of the stock in a transaction that occurred on Wednesday, June 24th. The shares were sold at an average price of $168.33, for a total value of $3,366,600.00. Following the completion of the transaction, the chief financial officer owned 123,269 shares of the company’s stock, valued at $20,749,870.77. This represents a 13.96% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Stephen Michael Kelsey sold 4,175 shares of the firm’s stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $156.12, for a total transaction of $651,801.00. Following the completion of the sale, the insider owned 291,876 shares in the company, valued at $45,567,681.12. This represents a 1.41% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 132,497 shares of company stock worth $21,470,486 in the last ninety days. Insiders own 7.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on RVMD. Mizuho boosted their target price on shares of Revolution Medicines from $185.00 to $215.00 and gave the company an “outperform” rating in a research report on Monday, July 6th. Wedbush increased their price target on shares of Revolution Medicines from $192.10 to $201.00 and gave the stock an “outperform” rating in a research report on Thursday, August 6th. Wolfe Research reissued an “outperform” rating and issued a $220.00 price objective on shares of Revolution Medicines in a research note on Monday, August 10th. Stifel Nicolaus restated a “buy” rating on shares of Revolution Medicines in a research report on Monday, April 20th. Finally, Guggenheim upped their target price on Revolution Medicines from $235.00 to $240.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $161.79.

Revolution Medicines Stock Performance

Revolution Medicines stock opened at $203.71 on Friday. Revolution Medicines, Inc. has a 12-month low of $35.42 and a 12-month high of $208.76. The company has a quick ratio of 11.38, a current ratio of 11.38 and a debt-to-equity ratio of 0.40. The business’s 50-day moving average price is $181.62 and its two-hundred day moving average price is $140.49. The stock has a market cap of $43.66 billion, a PE ratio of -23.10 and a beta of 1.39.

Revolution Medicines (NASDAQ:RVMD) last issued its earnings results on Wednesday, August 5th. The company reported ($3.06) EPS for the quarter, missing the consensus estimate of ($2.04) by ($1.02). During the same period in the previous year, the business earned ($1.31) earnings per share. As a group, analysts expect that Revolution Medicines, Inc. will post -8.82 earnings per share for the current fiscal 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.