13,400 Shares in Revolution Medicines, Inc. $RVMD Bought by GABELLI & Co INVESTMENT ADVISERS INC.

Key Points

• GABELLI & Co. Investment Advisers initiated a new position in Revolution Medicines, buying 13,400 shares worth about $1.3 million in the first quarter.
• Institutional ownership remains heavy, with several large funds adding shares and 94.34% of the stock held by institutional investors.
• Revolution Medicines reported a wider-than-expected quarterly loss, and while analysts remain mostly bullish, the stock has a Moderate Buy consensus with an average target price of $144.67.

GABELLI & Co INVESTMENT ADVISERS INC. purchased a new position in Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 13,400 shares of the company's stock, valued at approximately $1,303,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Norges Bank bought a new position in shares of Revolution Medicines in the fourth quarter worth about $195,568,000. Avoro Capital Advisors LLC bought a new stake in Revolution Medicines during the 4th quarter valued at approximately $172,840,000. UBS Group AG lifted its holdings in Revolution Medicines by 183.6% in the 4th quarter. UBS Group AG now owns 3,087,937 shares of the company's stock worth $245,954,000 after purchasing an additional 1,998,972 shares in the last quarter. Polar Capital Holdings Plc lifted its holdings in Revolution Medicines by 321.2% in the 4th quarter. Polar Capital Holdings Plc now owns 2,013,791 shares of the company's stock worth $160,398,000 after purchasing an additional 1,535,686 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. boosted its stake in Revolution Medicines by 197.1% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 2,205,555 shares of the company's stock worth $175,672,000 after purchasing an additional 1,463,155 shares during the period. 94.34% of the stock is owned by institutional investors.

Insider Transactions at Revolution Medicines

In related news, insider Stephen Michael Kelsey sold 4,175 shares of the stock in a transaction dated 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 approximately $45,567,681.12. This trade represents a 1.41% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Margaret A. Horn sold 29,600 shares of Revolution Medicines stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $160.12, for a total value of $4,739,552.00. Following the completion of the transaction, the chief operating officer owned 154,647 shares of the company's stock, valued at approximately $24,762,077.64. This represents a 16.07% 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. Over the last 90 days, insiders sold 132,497 shares of company stock worth $21,470,486. 7.60% of the stock is currently owned by corporate insiders.

Revolution Medicines Stock Up 0.3%

NASDAQ RVMD opened at $189.23 on Friday. The stock has a 50 day moving average price of $168.87 and a 200-day moving average price of $131.73. Revolution Medicines, Inc. has a one year low of $34.00 and a one year high of $193.82. The company has a debt-to-equity ratio of 0.19, a quick ratio of 6.80 and a current ratio of 6.80. The company has a market capitalization of $40.23 billion, a P/E ratio of -26.77 and a beta of 1.37.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last announced its quarterly earnings results on Wednesday, May 6th. The company reported ($2.29) earnings per share for the quarter, missing the consensus estimate of ($1.83) by ($0.46). During the same period in the prior year, the company posted ($1.13) EPS. As a group, equities analysts predict that Revolution Medicines, Inc. will post -7.9 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on RVMD shares. Piper Sandler increased their price objective on shares of Revolution Medicines to $172.00 and gave the company an "overweight" rating in a report on Thursday, May 7th. Mizuho boosted their target price on shares of Revolution Medicines from $185.00 to $215.00 and gave the stock an "outperform" rating in a report on Monday, July 6th. Evercore restated an "outperform" rating on shares of Revolution Medicines in a research report on Tuesday, April 14th. Sanford C. Bernstein assumed coverage on shares of Revolution Medicines in a research note on Thursday, May 21st. They set a "market perform" rating and a $151.00 target price for the company. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Revolution Medicines in a report on Friday, July 17th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $144.67.

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.

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