Quantinno Capital Management LP Boosts Stake in Revolution Medicines, Inc. $RVMD

Quantinno Capital Management LP increased its holdings in shares of Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) by 97.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 63,360 shares of the company's stock after acquiring an additional 31,297 shares during the quarter. Quantinno Capital Management LP's holdings in Revolution Medicines were worth $6,162,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Indiana Trust & Investment Management Co purchased a new position in Revolution Medicines in the 4th quarter worth approximately $32,000. Global Retirement Partners LLC boosted its holdings in shares of 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 purchasing an additional 361 shares during the last quarter. Torren Management LLC purchased a new stake in shares of Revolution Medicines in the fourth quarter valued at approximately $33,000. Arax Advisory Partners purchased a new stake in shares of Revolution Medicines in the fourth quarter valued at approximately $38,000. Finally, Darwin Wealth Management LLC purchased a new stake in shares of Revolution Medicines in the fourth quarter valued at approximately $40,000. Hedge funds and other institutional investors own 94.34% of the company's stock.

Insider Buying and Selling at Revolution Medicines

In other Revolution Medicines news, CFO Jack Anders sold 20,000 shares of the company's stock in a transaction dated Wednesday, June 24th. The shares were sold at an average price of $168.33, for a total value of $3,366,600.00. Following the transaction, the chief financial officer owned 123,269 shares of the company's stock, valued at $20,749,870.77. This represents a 13.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Stephen Michael Kelsey sold 4,175 shares of the stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $156.12, for a total transaction of $651,801.00. Following the transaction, the insider directly owned 291,876 shares of the company's stock, valued at approximately $45,567,681.12. This trade represents a 1.41% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders sold 132,497 shares of company stock worth $21,470,486. Insiders own 7.60% of the company's stock.

Revolution Medicines Stock Up 2.0%

RVMD stock opened at $197.30 on Thursday. Revolution Medicines, Inc. has a one year low of $34.00 and a one year high of $198.30. The firm has a market cap of $41.95 billion, a PE ratio of -27.91 and a beta of 1.39. The firm's 50 day moving average price is $174.85 and its 200-day moving average price is $136.44. The company has a debt-to-equity ratio of 0.19, a quick ratio of 6.80 and a current ratio of 6.80.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The company reported ($3.06) earnings per share for the quarter, missing the consensus estimate of ($2.04) by ($1.02). During the same period in the prior year, the firm posted ($1.31) earnings per share. On average, equities research analysts anticipate that Revolution Medicines, Inc. will post -7.92 EPS for the current year.

Analyst Ratings Changes

A number of brokerages recently commented on RVMD. Mizuho lifted their price objective on Revolution Medicines from $185.00 to $215.00 and gave the stock an "outperform" rating in a research report on Monday, July 6th. Stifel Nicolaus restated a "buy" rating on shares of Revolution Medicines in a report on Monday, April 20th. Piper Sandler raised their target price on Revolution Medicines to $172.00 and gave the stock an "overweight" rating in a research note on Thursday, May 7th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Revolution Medicines in a report on Friday, July 17th. Finally, HC Wainwright reissued 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 issued a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $144.67.

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.

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