Trails Edge Capital Partners LP Buys Shares of 115,750 Revolution Medicines, Inc. $RVMD

Key Points

• Trails Edge Capital Partners initiated a position of 115,750 Revolution Medicines shares, representing about 0.05% of the company and 3.4% of its portfolio. Institutional investors collectively own 94.34% of RVMD.
• Company insiders sold 212,497 shares worth approximately $38.2 million over the past 90 days, including sizable sales by Director Sushil Patel and insider Mark A. Goldsmith.
• RVMD recently traded near $211, close to its 52-week high, but reported a wider-than-expected quarterly loss of $3.06 per share. Analysts maintain a consensus “Moderate Buy” rating, with an average price target of $167.89.

Trails Edge Capital Partners LP purchased a new position in shares of Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 115,750 shares of the company's stock, valued at approximately $21,677,660,000. Revolution Medicines comprises approximately 3.4% of Trails Edge Capital Partners LP's investment portfolio, making the stock its 15th largest holding. Trails Edge Capital Partners LP owned 0.05% of Revolution Medicines at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of RVMD. Contravisory Investment Management Inc. purchased a new position in shares of Revolution Medicines during the second quarter valued at approximately $32,000. ABS Investment Management LLC purchased a new stake in Revolution Medicines in the 2nd quarter worth approximately $337,104,000. Johnson Financial Group Inc. acquired a new position in Revolution Medicines in the 2nd quarter valued at $37,000. Northwestern Mutual Wealth Management Co. acquired a new position in Revolution Medicines in the 2nd quarter valued at $41,000. Finally, Silvant Capital Management LLC acquired a new position in Revolution Medicines in the 2nd quarter valued at $41,000. 94.34% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Revolution Medicines

In other news, Director Sushil Patel sold 5,580 shares of the firm's stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $187.99, for a total value of $1,048,984.20. Following the transaction, the director directly owned 21,656 shares in the company, valued at $4,071,111.44. This trade represents a 20.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Mark A. Goldsmith sold 80,000 shares of the firm's stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $209.20, for a total value of $16,736,000.00. Following the completion of the transaction, the insider owned 267,330 shares in the company, valued at approximately $55,925,436. This trade represents a 23.03% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 212,497 shares of company stock valued at $38,206,486 in the last ninety days. Company insiders own 7.60% of the company's stock.

Revolution Medicines Stock Down 0.1%

Shares of RVMD opened at $211.38 on Wednesday. The firm has a market cap of $45.31 billion, a PE ratio of -23.97 and a beta of 1.39. The company's fifty day moving average is $190.11 and its two-hundred day moving average is $146.46. Revolution Medicines, Inc. has a fifty-two week low of $35.62 and a fifty-two week high of $220.34. The company has a quick ratio of 11.38, a current ratio of 11.38 and a debt-to-equity ratio of 0.40.

Revolution Medicines (NASDAQ:RVMD - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The company reported ($3.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.04) by ($1.02). During the same quarter in the prior year, the firm earned ($1.31) EPS. Analysts forecast that Revolution Medicines, Inc. will post -8.82 earnings per share for the current year.

Analysts Set New Price Targets

RVMD has been the topic of several analyst reports. Piper Sandler raised their price objective on Revolution Medicines to $172.00 and gave the stock an "overweight" rating in a report on Thursday, May 7th. Sanford C. Bernstein increased their target price on Revolution Medicines from $151.00 to $179.00 and gave the stock a "market perform" rating in a research report on Friday. Weiss Ratings reissued a "sell (d-)" rating on shares of Revolution Medicines in a research note on Friday, July 17th. Guggenheim lifted their price target on Revolution Medicines from $235.00 to $240.00 and gave the company a "buy" rating in a report on Thursday, August 6th. Finally, Evercore restated an "outperform" rating and issued a $230.00 price target on shares of Revolution Medicines in a report on Thursday, August 6th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $167.89.

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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