Eagle Health Investments LP Makes New $9.23 Million Investment in Revolution Medicines, Inc. $RVMD

Key Points

• Eagle Health Investments LP initiated a new position in Revolution Medicines, buying 115,900 shares worth about $9.23 million, making RVMD its 17th-largest holding.
• Institutional interest remains strong, with hedge funds and other investors owning 94.34% of the company’s shares despite some insider selling activity in recent months.
• Analysts remain generally bullish: RVMD has an average “Buy” rating and a consensus price target of $108.88, even after the company reported a wider-than-expected quarterly loss of ($2.29) EPS.

Eagle Health Investments LP bought a new position in shares of Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 115,900 shares of the company's stock, valued at approximately $9,231,000. Revolution Medicines comprises 2.0% of Eagle Health Investments LP's portfolio, making the stock its 17th largest holding. Eagle Health Investments LP owned about 0.06% of Revolution Medicines at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in RVMD. Nextech Invest Ltd. raised its position in Revolution Medicines by 20.7% during the fourth quarter. Nextech Invest Ltd. now owns 7,601,087 shares of the company's stock worth $332,472,000 after acquiring an additional 1,304,347 shares during the last quarter. Millennium Management LLC raised its position in Revolution Medicines by 681.8% during the first quarter. Millennium Management LLC now owns 156,353 shares of the company's stock worth $5,529,000 after acquiring an additional 136,353 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Revolution Medicines by 14.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 300,196 shares of the company's stock valued at $10,615,000 after buying an additional 37,345 shares during the last quarter. Invesco Ltd. raised its position in shares of Revolution Medicines by 19.3% in the second quarter. Invesco Ltd. now owns 227,019 shares of the company's stock valued at $8,352,000 after buying an additional 36,760 shares during the last quarter. Finally, Jump Financial LLC raised its position in shares of Revolution Medicines by 87.9% in the second quarter. Jump Financial LLC now owns 15,258 shares of the company's stock valued at $561,000 after buying an additional 7,137 shares during the last quarter. Institutional investors and hedge funds own 94.34% of the company's stock.

Insider Transactions at Revolution Medicines

In related news, insider Mark A. Goldsmith sold 120,000 shares of the business's stock in a transaction that occurred on Wednesday, April 15th. The shares were sold at an average price of $150.09, for a total value of $18,010,800.00. Following the completion of the sale, the insider directly owned 276,698 shares in the company, valued at approximately $41,529,602.82. The trade was a 30.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Jack Anders sold 2,753 shares of the business's stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $99.48, for a total transaction of $273,868.44. Following the completion of the sale, the chief financial officer owned 125,512 shares of the company's stock, valued at approximately $12,485,933.76. The trade was a 2.15% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 184,592 shares of company stock valued at $24,499,532 in the last quarter. Insiders own 8.20% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on RVMD shares. Wedbush boosted their price objective on shares of Revolution Medicines to $165.00 and gave the company an "outperform" rating in a research report on Thursday, May 7th. Piper Sandler boosted their price objective on shares of Revolution Medicines to $172.00 and gave the company an "overweight" rating in a research report on Thursday, May 7th. Weiss Ratings reissued a "sell (d-)" rating on shares of Revolution Medicines in a research report on Tuesday, April 21st. UBS Group started coverage on shares of Revolution Medicines in a research report on Friday, February 27th. They issued a "buy" rating for the company. Finally, HC Wainwright reissued a "buy" rating on shares of Revolution Medicines in a research report on Wednesday, April 22nd. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of "Buy" and an average price target of $108.88.

Revolution Medicines Stock Performance

NASDAQ:RVMD opened at $150.33 on Thursday. Revolution Medicines, Inc. has a 1-year low of $34.00 and a 1-year high of $155.70. The firm has a 50 day simple moving average of $121.61 and a 200-day simple moving average of $100.18. The firm has a market cap of $31.96 billion, a PE ratio of -21.26 and a beta of 1.41. The company has a debt-to-equity ratio of 0.19, a current ratio of 6.80 and a quick ratio of 6.80.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last released its earnings results on Wednesday, May 6th. The company reported ($2.29) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.83) by ($0.46). During the same quarter in the previous year, the firm posted ($1.13) EPS. On average, equities analysts expect that Revolution Medicines, Inc. will post -7.75 EPS for the current year.

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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