Aristotle Atlantic Partners LLC Takes $829,000 Position in Revolution Medicines, Inc. $RVMD

Key Points

• Aristotle Atlantic Partners opened a new position in Revolution Medicines, buying 10,410 shares worth about $829,000 in the fourth quarter.
• Several other institutional investors also increased their holdings, and overall 94.34% of the stock is now owned by institutions.
• Insiders have been selling shares, including CEO Mark A. Goldsmith and COO Margaret A. Horn, even as analysts remain mostly bullish with a consensus rating of “Buy” and an average price target of $123.72.

Aristotle Atlantic Partners LLC acquired a new stake in Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 10,410 shares of the company's stock, valued at approximately $829,000.

A number of other institutional investors also recently modified their holdings of the company. PNC Financial Services Group Inc. boosted its stake in shares of Revolution Medicines by 1.3% in the 4th quarter. PNC Financial Services Group Inc. now owns 10,066 shares of the company's stock valued at $802,000 after purchasing an additional 125 shares during the last quarter. Deutsche Bank AG boosted its stake in shares of Revolution Medicines by 0.4% in the 4th quarter. Deutsche Bank AG now owns 32,217 shares of the company's stock valued at $2,566,000 after purchasing an additional 130 shares during the last quarter. Signaturefd LLC boosted its stake in shares of Revolution Medicines by 33.1% in the 4th quarter. Signaturefd LLC now owns 656 shares of the company's stock valued at $52,000 after purchasing an additional 163 shares during the last quarter. Allworth Financial LP boosted its stake in shares of 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 purchasing an additional 210 shares during the last quarter. Finally, Farther Finance Advisors LLC lifted its stake in Revolution Medicines by 44.7% in the fourth quarter. Farther Finance Advisors LLC now owns 751 shares of the company's stock valued at $60,000 after buying an additional 232 shares during the period. 94.34% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Revolution Medicines news, insider Mark A. Goldsmith sold 120,000 shares of the business's stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $150.09, for a total transaction of $18,010,800.00. Following the completion of the sale, the insider directly owned 276,698 shares of the company's stock, valued at approximately $41,529,602.82. The trade was a 30.25% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Margaret A. Horn sold 29,600 shares of the business's stock in a transaction that occurred on 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 sale, the chief operating officer directly owned 154,647 shares of the company's stock, valued at $24,762,077.64. This represents a 16.07% 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 210,000 shares of company stock valued at $32,424,620 over the last three months. Corporate insiders own 7.60% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on RVMD shares. Piper Sandler boosted their price target on Revolution Medicines to $172.00 and gave the company an "overweight" rating in a research note on Thursday, May 7th. Truist Financial started coverage on shares of Revolution Medicines in a report on Monday, May 18th. They set a "buy" rating and a $179.00 price objective on the stock. Evercore reiterated an "outperform" rating on shares of Revolution Medicines in a report on Tuesday, April 14th. Wedbush reaffirmed an "outperform" rating on shares of Revolution Medicines in a research report on Monday, June 1st. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Revolution Medicines in a research report on Tuesday, April 21st. Three analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $123.72.

Revolution Medicines Trading Up 0.8%

NASDAQ RVMD opened at $157.77 on Thursday. The company has a market cap of $33.54 billion, a price-to-earnings ratio of -22.32 and a beta of 1.40. Revolution Medicines, Inc. has a 52 week low of $34.00 and a 52 week high of $166.50. The business has a 50 day moving average price of $144.38 and a 200-day moving average price of $112.39. The company has a quick ratio of 6.80, a current ratio of 6.80 and a debt-to-equity ratio of 0.19.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last released its quarterly earnings data on Wednesday, May 6th. The company reported ($2.29) EPS for the quarter, missing the consensus estimate of ($1.83) by ($0.46). During the same quarter in the previous year, the company posted ($1.13) earnings per share. As a group, equities analysts expect that Revolution Medicines, Inc. will post -7.94 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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