Kryger Capital LLC Takes $843,000 Position in Revolution Medicines, Inc. $RVMD

Key Points

• Kryger Capital LLC opened a new position in Revolution Medicines during the first quarter, buying 8,670 shares valued at about $843,000.
• Institutional ownership remains very high, with investors holding 94.34% of the company’s stock; however, several insiders have recently sold shares, including COO Margaret A. Horn and insider Stephen Michael Kelsey.
• Revolution Medicines reported a wider-than-expected quarterly loss and, despite mixed sentiment, Wall Street is still broadly positive, with an average analyst rating of “Moderate Buy” and a current average price target of $144.67.

Kryger Capital LLC acquired a new position in Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 8,670 shares of the company's stock, valued at approximately $843,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Meeder Advisory Services Inc. lifted its stake in Revolution Medicines by 3.0% in the first quarter. Meeder Advisory Services Inc. now owns 4,126 shares of the company's stock valued at $401,000 after acquiring an additional 120 shares during the last quarter. PNC Financial Services Group Inc. increased its stake in shares of Revolution Medicines by 1.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 10,066 shares of the company's stock worth $802,000 after purchasing an additional 125 shares during the last quarter. Deutsche Bank AG raised its holdings in shares of Revolution Medicines by 0.4% during 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 in the last quarter. Signaturefd LLC raised its holdings in shares of Revolution Medicines by 33.1% during the 4th quarter. Signaturefd LLC now owns 656 shares of the company's stock valued at $52,000 after purchasing an additional 163 shares in the last quarter. Finally, Allworth Financial LP lifted 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. Institutional investors own 94.34% of the company's stock.

Insider Buying and Selling

In related news, COO Margaret A. Horn sold 29,600 shares of the business's stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $160.12, for a total transaction of $4,739,552.00. Following the completion of the transaction, the chief operating officer owned 154,647 shares of the company's stock, valued at approximately $24,762,077.64. The trade was a 16.07% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through 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 the stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $156.12, for a total value of $651,801.00. Following the sale, the insider owned 291,876 shares of the company's stock, valued at approximately $45,567,681.12. The trade was a 1.41% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 132,497 shares of company stock valued at $21,470,486 in the last quarter. Insiders own 7.60% of the company's stock.

Revolution Medicines Price Performance

NASDAQ RVMD opened at $189.23 on Friday. Revolution Medicines, Inc. has a 1 year low of $34.00 and a 1 year high of $193.82. The company has a fifty day simple moving average of $168.87 and a 200 day simple moving average of $131.73. 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 $40.23 billion, a P/E ratio of -26.77 and a beta of 1.37.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last announced its earnings results 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 period in the previous year, the company posted ($1.13) EPS. On average, sell-side analysts predict that Revolution Medicines, Inc. will post -7.9 EPS for the current year.

Wall Street Analyst Weigh In

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. Needham & Company LLC boosted their price target on Revolution Medicines from $235.00 to $236.00 and gave the stock a "buy" rating in a research report on Monday, July 20th. Guggenheim upped their price target on Revolution Medicines from $205.00 to $235.00 and gave the stock a "buy" rating in a research note on Thursday, July 9th. Truist Financial upped their price target on Revolution Medicines from $179.00 to $210.00 and gave the stock a "buy" rating in a research note on Tuesday, June 30th. Finally, Evercore reissued an "outperform" rating on shares of Revolution Medicines in a report on Tuesday, April 14th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have assigned 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 company presently has an average rating of "Moderate Buy" and an average target price of $144.67.

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.

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.