First Trust Advisors LP Boosts Holdings in Revolution Medicines, Inc. $RVMD

First Trust Advisors LP grew its holdings in shares of Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) by 80.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 70,970 shares of the company's stock after acquiring an additional 31,605 shares during the period. First Trust Advisors LP's holdings in Revolution Medicines were worth $6,902,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Revolution Medicines by 6.7% during the fourth 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 last quarter. Janus Henderson Group PLC raised its position in Revolution Medicines by 8.3% in the 4th quarter. Janus Henderson Group PLC now owns 12,303,502 shares of the company's stock worth $980,036,000 after purchasing an additional 947,448 shares during the period. Nextech Invest Ltd. lifted its position in shares of 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 purchasing an additional 1,304,347 shares during the last quarter. Paradigm Biocapital Advisors LP grew 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 worth $529,227,000 after purchasing an additional 421,112 shares in the last quarter. Finally, Bellevue Group AG increased its position in Revolution Medicines by 21.7% during the 3rd quarter. Bellevue Group AG now owns 5,573,838 shares of the company's stock valued at $260,298,000 after purchasing an additional 994,538 shares during the period. Hedge funds and other institutional investors own 94.34% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have commented on RVMD. Weiss Ratings reissued a "sell (d-)" rating on shares of Revolution Medicines in a research report on Friday, July 17th. HC Wainwright reissued a "buy" rating and set a $195.00 price target on shares of Revolution Medicines in a report on Monday, July 6th. Sanford C. Bernstein started coverage on Revolution Medicines in a research report on Thursday, May 21st. They issued a "market perform" rating and a $151.00 price objective for the company. Piper Sandler boosted their price target on Revolution Medicines to $172.00 and gave the stock an "overweight" rating in a research report on Thursday, May 7th. Finally, Oppenheimer increased their price objective on shares of Revolution Medicines from $165.00 to $195.00 and gave the company an "outperform" rating in a report on Monday, June 1st. Two analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $144.67.

Revolution Medicines Stock Performance

NASDAQ RVMD opened at $187.53 on Monday. The stock has a 50-day moving average of $172.57 and a two-hundred day moving average of $134.97. 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, Inc. has a 1-year low of $34.00 and a 1-year high of $194.56. The company has a market cap of $39.87 billion, a P/E ratio of -26.52 and a beta of 1.37.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last announced its quarterly earnings data 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) earnings per share. As a group, analysts anticipate that Revolution Medicines, Inc. will post -7.92 EPS for the current year.

Insider Activity

In related news, insider Mark A. Goldsmith sold 10,020 shares of the business'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 $1,564,322.40. Following the completion of the sale, the insider directly owned 267,330 shares of the company's stock, valued at $41,735,559.60. The trade was a 3.61% 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. 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 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 value of $651,801.00. Following the transaction, the insider directly owned 291,876 shares in the company, valued at approximately $45,567,681.12. This trade represents a 1.41% decrease in their position. 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 sold 132,497 shares of company stock worth $21,470,486 over the last three months. Company insiders own 7.60% of the company's stock.

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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