Marsico Capital Management LLC Makes New Investment in Revolution Medicines, Inc. $RVMD

Key Points

• Marsico Capital Management disclosed a new position in Revolution Medicines, buying 219,460 shares valued at about $17.48 million in the fourth quarter.
• Several other institutions also added to RVMD, and hedge funds and other institutional investors own 94.34% of the company’s stock, while insiders hold 7.60%.
• Revolution Medicines reported a Q1 EPS miss of $(2.29) versus the $(1.83) estimate, but analysts remain largely positive with an average “Buy” rating and a mean price target of $123.72.

Marsico Capital Management LLC purchased a new position in Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 219,460 shares of the company's stock, valued at approximately $17,480,000. Marsico Capital Management LLC owned approximately 0.11% of Revolution Medicines as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also bought and sold shares of the company. PNC Financial Services Group Inc. lifted its stake in Revolution Medicines by 1.3% in the fourth 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 lifted its stake in Revolution Medicines by 0.4% in the fourth quarter. Deutsche Bank AG now owns 32,217 shares of the company's stock worth $2,566,000 after purchasing an additional 130 shares during the last quarter. Signaturefd LLC lifted its stake in Revolution Medicines by 33.1% in the fourth quarter. Signaturefd LLC now owns 656 shares of the company's stock worth $52,000 after purchasing an additional 163 shares during the last quarter. Allworth Financial LP lifted its stake in Revolution Medicines by 57.2% in the fourth quarter. Allworth Financial LP now owns 577 shares of the company's stock worth $46,000 after purchasing an additional 210 shares during the last quarter. Finally, Farther Finance Advisors LLC lifted its stake in Revolution Medicines by 44.7% in the fourth quarter. Farther Finance Advisors LLC now owns 751 shares of the company's stock worth $60,000 after purchasing an additional 232 shares during the last quarter. Hedge funds and other institutional investors own 94.34% of the company's stock.

Insider Buying and Selling at Revolution Medicines

In related news, CFO Jack Anders sold 2,753 shares of the company's stock in a transaction dated 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 transaction, the chief financial officer owned 125,512 shares in the company, valued at $12,485,933.76. This represents a 2.15% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Stephen Michael Kelsey sold 4,302 shares of the company's stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $99.48, for a total transaction of $427,962.96. Following the transaction, the insider owned 295,398 shares of the company's stock, valued at approximately $29,386,193.04. This trade represents a 1.44% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 148,592 shares of company stock worth $20,855,132. 7.60% of the stock is currently owned by company insiders.

Revolution Medicines Price Performance

NASDAQ:RVMD opened at $149.23 on Friday. Revolution Medicines, Inc. has a one year low of $34.00 and a one year high of $166.50. The company has a debt-to-equity ratio of 0.19, a quick ratio of 6.80 and a current ratio of 6.80. The firm has a market cap of $31.73 billion, a price-to-earnings ratio of -21.11 and a beta of 1.40. The firm's fifty day moving average is $139.66 and its two-hundred day moving average is $110.11.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last posted its quarterly 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 quarter in the prior year, the firm earned ($1.13) EPS. Research analysts expect that Revolution Medicines, Inc. will post -7.94 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have issued reports on RVMD. Wedbush reissued an "outperform" rating on shares of Revolution Medicines in a research note on Monday, June 1st. Oppenheimer raised their price objective on shares of Revolution Medicines from $165.00 to $195.00 and gave the stock an "outperform" rating in a research note on Monday, June 1st. UBS Group started coverage on shares of Revolution Medicines in a research note on Friday, February 27th. They issued a "buy" rating for the company. Benchmark reaffirmed an "overweight" rating on shares of Revolution Medicines in a research report on Tuesday, February 17th. Finally, 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. Three research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $123.72.

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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