Edgestream Partners L.P. Invests $6.74 Million in Revolution Medicines, Inc. $RVMD

Edgestream Partners L.P. acquired a new stake in Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 69,262 shares of the company's stock, valued at approximately $6,736,000.

A number of other institutional investors have also made changes to their positions in RVMD. Indiana Trust & Investment Management Co bought a new position in Revolution Medicines in the fourth quarter valued at $32,000. Global Retirement Partners LLC lifted its position in Revolution Medicines by 1,002.8% during the 4th quarter. Global Retirement Partners LLC now owns 397 shares of the company's stock worth $32,000 after buying an additional 361 shares in the last quarter. Torren Management LLC bought a new stake in Revolution Medicines during the 4th quarter worth about $33,000. Arax Advisory Partners acquired a new position in shares of Revolution Medicines during the 4th quarter worth about $38,000. Finally, Darwin Wealth Management LLC acquired a new position in shares of Revolution Medicines during the 4th quarter worth about $40,000. Institutional investors own 94.34% of the company's stock.

Insider Buying and Selling

In other news, insider Stephen Michael Kelsey sold 4,175 shares of Revolution Medicines stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $156.12, for a total transaction of $651,801.00. Following the completion of the transaction, the insider directly owned 291,876 shares in the company, valued at approximately $45,567,681.12. The trade was a 1.41% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Sushil Patel sold 5,580 shares of the business's stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $187.99, for a total value of $1,048,984.20. Following the transaction, the director directly owned 21,656 shares in the company, valued at $4,071,111.44. The trade was a 20.49% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 132,497 shares of company stock valued at $21,470,486. Insiders own 7.60% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on RVMD shares. Piper Sandler raised their price objective on Revolution Medicines to $172.00 and gave the company an "overweight" rating in a report on Thursday, May 7th. Royal Bank Of Canada upped their target price on Revolution Medicines from $165.00 to $182.00 and gave the stock an "outperform" rating in a report on Tuesday, June 2nd. Guggenheim increased their price target on Revolution Medicines from $205.00 to $235.00 and gave the company a "buy" rating in a research report on Thursday, July 9th. Evercore restated an "outperform" rating on shares of Revolution Medicines in a research note on Tuesday, April 14th. Finally, HC Wainwright reaffirmed a "buy" rating and set a $195.00 price target on shares of Revolution Medicines in a research report on Monday, July 6th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $144.67.

Revolution Medicines Stock Performance

Shares of RVMD opened at $192.17 on Friday. The company has a market cap of $40.85 billion, a PE ratio of -27.18 and a beta of 1.37. The firm has a 50-day moving average of $171.85 and a 200-day moving average of $134.48. Revolution Medicines, Inc. has a one year low of $34.00 and a one year high of $194.56. 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 issued its earnings results on Wednesday, May 6th. The company reported ($2.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.83) by ($0.46). During the same quarter last year, the business posted ($1.13) EPS. As a group, equities analysts forecast that Revolution Medicines, Inc. will post -7.92 earnings per share for the current year.

About Revolution Medicines

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.

Want to see what other hedge funds are holding RVMD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.