Quantbot Technologies LP Takes Position in Revolution Medicines, Inc. $RVMD

Quantbot Technologies LP acquired a new position in Revolution Medicines, Inc. (NASDAQ:RVMD) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 5,724 shares of the company’s stock, valued at approximately $1,072,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Korea Investment CORP purchased a new stake in Revolution Medicines in the second quarter worth $11,256,000. Rakuten Securities Inc. purchased a new stake in shares of Revolution Medicines during the second quarter valued at $66,000. Ieq Capital LLC bought a new position in shares of Revolution Medicines in the second quarter worth about $11,018,000. Allworth Financial LP purchased a new position in Revolution Medicines in the 2nd quarter worth about $420,000. Finally, B. Metzler seel. Sohn & Co. AG purchased a new position in Revolution Medicines in the 2nd quarter worth about $2,548,000. Hedge funds and other institutional investors own 94.34% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on RVMD. Weiss Ratings reiterated a “sell (d-)” rating on shares of Revolution Medicines in a report on Friday, July 17th. Oppenheimer restated an “outperform” rating and issued a $230.00 target price on shares of Revolution Medicines in a research note on Thursday, August 6th. Needham & Company LLC raised their target price on shares of Revolution Medicines from $236.00 to $240.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Truist Financial lifted their price target on shares of Revolution Medicines from $210.00 to $231.00 and gave the company a “buy” rating in a research note on Tuesday, August 11th. Finally, Wedbush boosted 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. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Revolution Medicines currently has an average rating of “Moderate Buy” and an average target price of $167.89.

Revolution Medicines Stock Performance

RVMD stock opened at $211.38 on Wednesday. The company has a debt-to-equity ratio of 0.40, a current ratio of 11.38 and a quick ratio of 11.38. The business has a 50-day moving average price of $190.11 and a 200 day moving average price of $146.46. The company has a market capitalization of $45.31 billion, a P/E ratio of -23.97 and a beta of 1.39. Revolution Medicines, Inc. has a 1-year low of $35.62 and a 1-year high of $220.34.

Revolution Medicines (NASDAQ:RVMD) last released its quarterly earnings data on Wednesday, August 5th. The company reported ($3.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($2.04) by ($1.02). During the same period in the prior year, the firm earned ($1.31) EPS. As a group, equities research analysts forecast that Revolution Medicines, Inc. will post -8.82 EPS for the current fiscal year.

Insider Transactions at Revolution Medicines

In related news, 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 transaction, the insider owned 291,876 shares of the company’s stock, valued at $45,567,681.12. The trade was a 1.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Jack Anders sold 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 24th. The stock was sold at an average price of $168.33, for a total transaction of $3,366,600.00. Following the completion of the transaction, the chief financial officer directly owned 123,269 shares of the company’s stock, valued at $20,749,870.77. This trade represents a 13.96% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 212,497 shares of company stock worth $38,206,486. Insiders own 7.60% of the company’s stock.

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.