Catalyst Funds Management Pty Ltd Purchases 13,400 Shares of Revolution Medicines, Inc. $RVMD

Key Points

• Catalyst Funds Management increased its stake in Revolution Medicines by 6.4% in the fourth quarter, buying 13,400 additional shares and bringing its total holdings to 223,569 shares worth about $17.8 million.
• Institutional ownership remains very high, with hedge funds and other institutions holding 94.34% of RVMD shares, while several smaller investors also recently added positions.
• Analysts are still broadly bullish on the stock, with an average rating of “Buy” and an average price target of $111.35, even though the company reported a larger-than-expected quarterly loss of $2.29 per share.

Catalyst Funds Management Pty Ltd lifted its holdings in Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) by 6.4% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 223,569 shares of the company's stock after purchasing an additional 13,400 shares during the period. Revolution Medicines makes up 4.1% of Catalyst Funds Management Pty Ltd's holdings, making the stock its 4th biggest holding. Catalyst Funds Management Pty Ltd owned approximately 0.12% of Revolution Medicines worth $17,807,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Global Retirement Partners LLC grew its holdings in shares of Revolution Medicines by 1,002.8% in the fourth quarter. Global Retirement Partners LLC now owns 397 shares of the company's stock valued at $32,000 after purchasing an additional 361 shares in the last quarter. Indiana Trust & Investment Management Co acquired a new position in shares of Revolution Medicines in the fourth quarter valued at approximately $32,000. Torren Management LLC acquired a new position in shares of Revolution Medicines in the fourth quarter valued at approximately $33,000. Darwin Wealth Management LLC acquired a new position in shares of Revolution Medicines in the fourth quarter valued at approximately $40,000. Finally, Allworth Financial LP grew its holdings in shares of Revolution Medicines by 57.2% in the fourth quarter. Allworth Financial LP now owns 577 shares of the company's stock valued at $46,000 after purchasing an additional 210 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 research reports. Truist Financial initiated coverage on shares of Revolution Medicines in a report on Monday, May 18th. They issued a "buy" rating and a $179.00 price objective for the company. Benchmark restated an "overweight" rating on shares of Revolution Medicines in a report on Tuesday, February 17th. Piper Sandler lifted 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. Stifel Nicolaus restated a "buy" rating on shares of Revolution Medicines in a report on Monday, April 20th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Revolution Medicines in a report on Tuesday, April 21st. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Revolution Medicines currently has an average rating of "Buy" and an average target price of $111.35.

Revolution Medicines Trading Down 1.4%

Shares of NASDAQ:RVMD opened at $151.56 on Friday. Revolution Medicines, Inc. has a 52 week low of $34.00 and a 52 week high of $156.25. The company's 50 day moving average is $123.75 and its two-hundred day moving average is $101.21. The company has a current ratio of 6.80, a quick ratio of 6.80 and a debt-to-equity ratio of 0.19. The company has a market cap of $32.22 billion, a PE ratio of -21.44 and a beta of 1.41.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last announced its quarterly earnings data on Wednesday, May 6th. The company reported ($2.29) EPS for the quarter, missing analysts' consensus estimates of ($1.83) by ($0.46). During the same quarter in the prior year, the firm earned ($1.13) EPS. Equities analysts predict that Revolution Medicines, Inc. will post -7.75 earnings per share for the current fiscal year.

Insider Transactions at Revolution Medicines

In related news, insider Stephen Michael Kelsey sold 4,302 shares of the business's stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $99.48, for a total value of $427,962.96. Following the completion of the sale, the insider directly owned 295,398 shares of the company's stock, valued at $29,386,193.04. The trade was a 1.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Mark A. Goldsmith sold 120,000 shares of the stock in a transaction 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 sale, the insider owned 276,698 shares of the company's stock, valued at approximately $41,529,602.82. This represents a 30.25% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 184,592 shares of company stock valued at $24,499,532 over the last quarter. 8.20% of the stock is owned by corporate insiders.

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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