S&CO Inc. Invests $6.40 Million in Revolution Medicines, Inc. $RVMD

Key Points

• S&CO Inc. acquired a new $6.4 million stake in Revolution Medicines during the second quarter, purchasing 34,171 shares. Institutional investors collectively own 94.34% of the company.
• Analysts remain broadly bullish, with a consensus “Moderate Buy” rating and an average price target of $161.79, although targets range as high as $230. Recent insider activity was mixed, including $21.5 million in stock sales over 90 days.
• Revolution Medicines shares opened at $203.71, near their 52-week high, but the clinical-stage biotech reported a larger-than-expected quarterly loss of $3.06 per share versus the $2.04 consensus estimate.

S&CO Inc. bought a new position in shares of Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund bought 34,171 shares of the company's stock, valued at approximately $6,399,000.

A number of other large investors have also added to or reduced their stakes in RVMD. Meeder Advisory Services Inc. lifted its holdings in Revolution Medicines by 3.0% during the 1st quarter. Meeder Advisory Services Inc. now owns 4,126 shares of the company's stock valued at $401,000 after purchasing an additional 120 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of Revolution Medicines by 1.3% in the fourth quarter. PNC Financial Services Group Inc. now owns 10,066 shares of the company's stock valued at $802,000 after purchasing an additional 125 shares during the last quarter. Deutsche Bank AG increased its holdings in shares of Revolution Medicines by 0.4% in the fourth 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 during the last quarter. Contravisory Investment Management Inc. bought a new position in shares of Revolution Medicines in the second quarter valued at about $32,000. Finally, Allworth Financial LP raised its position in shares of Revolution Medicines by 57.2% in the fourth 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 period. Institutional investors own 94.34% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Piper Sandler raised their target price on shares of Revolution Medicines to $172.00 and gave the stock an "overweight" rating in a research note on Thursday, May 7th. Evercore reiterated an "outperform" rating and issued a $230.00 price target on shares of Revolution Medicines in a research note on Thursday, August 6th. Wedbush increased their price target on shares of Revolution Medicines from $192.10 to $201.00 and gave the company an "outperform" rating in a report on Thursday, August 6th. Weiss Ratings restated a "sell (d-)" rating on shares of Revolution Medicines in a research report on Friday, July 17th. Finally, Wolfe Research restated an "outperform" rating and set a $220.00 price objective on shares of Revolution Medicines in a report on Monday, August 10th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Revolution Medicines currently has a consensus rating of "Moderate Buy" and a consensus price target of $161.79.

Insiders Place Their Bets

In other Revolution Medicines news, Director Sushil Patel sold 5,580 shares of the stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $187.99, for a total transaction of $1,048,984.20. Following the transaction, the director owned 21,656 shares in the company, valued at $4,071,111.44. This represents a 20.49% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Stephen Michael Kelsey sold 4,175 shares of the firm's 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 transaction, the insider directly owned 291,876 shares in the company, valued at $45,567,681.12. This represents a 1.41% decrease in their ownership of the stock. 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. Over the last ninety days, insiders have sold 132,497 shares of company stock worth $21,470,486. 7.60% of the stock is currently owned by insiders.

Revolution Medicines Stock Up 0.8%

RVMD stock opened at $203.71 on Friday. Revolution Medicines, Inc. has a fifty-two week low of $35.42 and a fifty-two week high of $208.76. The company has a debt-to-equity ratio of 0.40, a current ratio of 11.38 and a quick ratio of 11.38. The stock has a market capitalization of $43.66 billion, a price-to-earnings ratio of -23.10 and a beta of 1.39. The business's fifty day moving average price is $181.62 and its two-hundred day moving average price is $140.49.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last announced its earnings results on Wednesday, August 5th. The company reported ($3.06) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($2.04) by ($1.02). During the same quarter in the prior year, the company earned ($1.31) EPS. On average, equities analysts anticipate that Revolution Medicines, Inc. will post -8.82 earnings per share for the current year.

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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