58,834 Shares in Revolution Medicines, Inc. $RVMD Bought by Ieq Capital LLC

Key Points

• Ieq Capital purchased 58,834 Revolution Medicines shares in the second quarter, valued at approximately $11.0 million. Institutional investors collectively own 94.34% of the company.
• Analysts remain broadly positive, with 18 Buy ratings and an average “Moderate Buy” consensus. Several firms raised their price targets to between $230 and $240, although the MarketBeat average target is $167.89.
• RVMD shares opened at $209.46 after trading down 1.1%, while the company reported a quarterly loss of $3.06 per share—worse than the $2.04 consensus estimate. Insiders also sold 132,497 shares worth $21.5 million over the past 90 days, primarily to cover tax obligations.

Ieq Capital LLC purchased a new position in shares of Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 58,834 shares of the company's stock, valued at approximately $11,018,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of Revolution Medicines by 6.7% during the 4th quarter. Vanguard Group Inc. now owns 16,719,886 shares of the company's stock worth $1,331,739,000 after acquiring an additional 1,056,792 shares during the period. Janus Henderson Group PLC boosted its position in shares of 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 acquiring an additional 947,448 shares in the last quarter. Nextech Invest Ltd. increased its stake in Revolution Medicines by 20.7% in the fourth quarter. Nextech Invest Ltd. now owns 7,601,087 shares of the company's stock valued at $332,472,000 after acquiring an additional 1,304,347 shares during the period. Paradigm Biocapital Advisors LP increased its stake in Revolution Medicines by 6.8% in the fourth quarter. Paradigm Biocapital Advisors LP now owns 6,644,403 shares of the company's stock valued at $529,227,000 after acquiring an additional 421,112 shares during the period. Finally, Bellevue Group AG raised its position in Revolution Medicines by 21.7% in the third quarter. Bellevue Group AG now owns 5,573,838 shares of the company's stock worth $260,298,000 after purchasing an additional 994,538 shares in the last quarter. Institutional investors own 94.34% of the company's stock.

Insider Buying and Selling

In related news, COO Margaret A. Horn sold 60,400 shares of the firm's stock in a transaction 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 $25,342,417.74. This trade represents a 27.63% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at 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 firm's stock in a transaction 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 sale, the insider directly owned 291,876 shares of the company's stock, valued at $45,567,681.12. This represents a 1.41% decrease in their ownership of the stock. 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 have sold a total of 132,497 shares of company stock valued at $21,470,486 in the last ninety days. 7.60% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on RVMD shares. Needham & Company LLC lifted their price objective on Revolution Medicines from $236.00 to $240.00 and gave the company a "buy" rating in a report on Thursday, August 6th. Guggenheim increased their target price on Revolution Medicines from $235.00 to $240.00 and gave the stock a "buy" rating in a report on Thursday, August 6th. Oppenheimer reissued an "outperform" rating and issued a $230.00 target price on shares of Revolution Medicines in a report on Thursday, August 6th. Evercore restated an "outperform" rating and set a $230.00 target price on shares of Revolution Medicines in a research report on Thursday, August 6th. Finally, Truist Financial boosted their price target on Revolution Medicines from $210.00 to $231.00 and gave the company a "buy" rating in a research note on Tuesday, August 11th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have issued 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, Revolution Medicines has an average rating of "Moderate Buy" and an average target price of $167.89.

Revolution Medicines Trading Down 1.1%

Shares of RVMD stock opened at $209.46 on Friday. The company has a market capitalization of $44.90 billion, a P/E ratio of -23.75 and a beta of 1.39. Revolution Medicines, Inc. has a 12-month low of $35.62 and a 12-month high of $220.34. 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 firm has a 50-day moving average price of $187.99 and a 200 day moving average price of $144.50.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last issued 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 period in the previous year, the company earned ($1.31) EPS. Research analysts forecast that Revolution Medicines, Inc. will post -8.82 earnings per share for the current fiscal year.

Revolution Medicines 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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