115,750 Shares in Revolution Medicines, Inc. $RVMD Acquired by Trails Edge Capital Partners LP

Trails Edge Capital Partners LP purchased a new position in Revolution Medicines, Inc. (NASDAQ:RVMD) in the second quarter, HoldingsChannel.com reports. The firm purchased 115,750 shares of the company’s stock, valued at approximately $21,677,660,000. Revolution Medicines comprises 3.4% of Trails Edge Capital Partners LP’s holdings, making the stock its 15th biggest holding.

Several other large investors also recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of Revolution Medicines by 6.7% during the fourth quarter. Vanguard Group Inc. now owns 16,719,886 shares of the company’s stock worth $1,331,739,000 after purchasing an additional 1,056,792 shares in the last quarter. Janus Henderson Group PLC grew its holdings in Revolution Medicines by 8.3% during the 4th quarter. Janus Henderson Group PLC now owns 12,303,502 shares of the company’s stock valued at $980,036,000 after purchasing an additional 947,448 shares in the last quarter. Nextech Invest Ltd. increased its stake in 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 buying an additional 1,304,347 shares during the period. Paradigm Biocapital Advisors LP increased its stake in Revolution Medicines by 6.8% during the 4th quarter. Paradigm Biocapital Advisors LP now owns 6,644,403 shares of the company’s stock worth $529,227,000 after buying an additional 421,112 shares during the period. Finally, Bellevue Group AG lifted its holdings in Revolution Medicines by 21.7% in the 3rd quarter. Bellevue Group AG now owns 5,573,838 shares of the company’s stock worth $260,298,000 after buying an additional 994,538 shares in the last quarter. Institutional investors and hedge funds own 94.34% of the company’s stock.

Wall Street Analysts Forecast Growth

RVMD has been the subject of a number of analyst reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Revolution Medicines in a research report on Friday, July 17th. Oppenheimer reiterated an “outperform” rating and issued a $230.00 price target on shares of Revolution Medicines in a research note on Thursday, August 6th. Wedbush increased their price target on Revolution Medicines from $192.10 to $201.00 and gave the company an “outperform” rating in a report on Thursday, August 6th. Needham & Company LLC increased their price target on Revolution Medicines from $236.00 to $240.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Finally, HC Wainwright restated a “buy” rating and set a $195.00 price objective on shares of Revolution Medicines in a research note on Monday, July 6th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $167.89.

Insider Buying and Selling

In other news, Director Sushil Patel sold 5,580 shares of the business’s stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $187.99, for a total value of $1,048,984.20. Following the completion of the sale, the director directly owned 21,656 shares in the company, valued at approximately $4,071,111.44. The trade was a 20.49% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Stephen Michael Kelsey sold 4,175 shares of the business’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 value of $651,801.00. Following the completion of the sale, the insider owned 291,876 shares of the company’s stock, valued at $45,567,681.12. This trade represents a 1.41% 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. In the last quarter, insiders have sold 212,497 shares of company stock worth $38,206,486. 7.60% of the stock is currently owned by insiders.

Revolution Medicines Stock Performance

Shares of RVMD stock opened at $211.38 on Wednesday. The stock has a market capitalization of $45.31 billion, a price-to-earnings ratio of -23.97 and a beta of 1.39. Revolution Medicines, Inc. has a one year low of $35.62 and a one year high of $220.34. The company’s 50-day simple moving average is $190.11 and its 200-day simple moving average is $146.46. The company has a debt-to-equity ratio of 0.40, a quick ratio of 11.38 and a current ratio of 11.38.

Revolution Medicines (NASDAQ:RVMD) last announced its quarterly earnings data on Wednesday, August 5th. The company reported ($3.06) earnings per share for the quarter, missing the consensus estimate of ($2.04) by ($1.02). During the same quarter in the previous year, the company earned ($1.31) earnings per share. Equities analysts anticipate that Revolution Medicines, Inc. will post -8.82 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.