Zweig DiMenna Associates LLC Purchases New Position in Revolution Medicines, Inc. $RVMD

Key Points

• Zweig DiMenna Associates opened a new position in Revolution Medicines, buying 104,600 shares valued at about $8.33 million in the fourth quarter.
• The stock has been a strong performer, recently trading near $157.48 with a 52-week range of $34.00 to $158.13 and a market cap of about $33.48 billion.
• Revolution Medicines reported a wider-than-expected quarterly loss of ($2.29) EPS, while analysts remain generally bullish with a Buy consensus and a target price of $111.35.

Zweig DiMenna Associates LLC purchased a new stake in Revolution Medicines, Inc. (NASDAQ:RVMD - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 104,600 shares of the company's stock, valued at approximately $8,331,000. Zweig DiMenna Associates LLC owned approximately 0.05% of Revolution Medicines as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Eurizon Capital SGR S.p.A. purchased a new position in shares of Revolution Medicines in the 4th quarter valued at about $179,000. SBI Okasan Asset Management Co.Ltd. purchased a new position in shares of Revolution Medicines in the 4th quarter valued at about $797,000. Geode Capital Management LLC increased its stake in shares of Revolution Medicines by 0.5% in the 4th quarter. Geode Capital Management LLC now owns 3,161,963 shares of the company's stock valued at $251,912,000 after purchasing an additional 16,323 shares in the last quarter. AlphaQuest LLC increased its stake in shares of Revolution Medicines by 73.5% in the 4th quarter. AlphaQuest LLC now owns 20,664 shares of the company's stock valued at $1,646,000 after purchasing an additional 8,751 shares in the last quarter. Finally, Fisher Asset Management LLC increased its stake in shares of Revolution Medicines by 3,199.9% in the 4th quarter. Fisher Asset Management LLC now owns 241,057 shares of the company's stock valued at $19,200,000 after purchasing an additional 233,752 shares in the last quarter. Hedge funds and other institutional investors own 94.34% of the company's stock.

Revolution Medicines Price Performance

Shares of Revolution Medicines stock opened at $157.48 on Friday. The business has a 50 day simple moving average of $129.46 and a two-hundred day simple moving average of $104.51. Revolution Medicines, Inc. has a 12 month low of $34.00 and a 12 month high of $158.13. The stock has a market capitalization of $33.48 billion, a P/E ratio of -22.27 and a beta of 1.41. The company has a debt-to-equity ratio of 0.19, a current ratio of 6.80 and a quick ratio of 6.80.

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 analysts' consensus estimates of ($1.83) by ($0.46). During the same quarter last year, the business earned ($1.13) earnings per share. As a group, analysts predict that Revolution Medicines, Inc. will post -7.75 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently weighed in on RVMD shares. Benchmark restated an "overweight" rating on shares of Revolution Medicines in a research note on Tuesday, February 17th. Royal Bank Of Canada lifted their price target on Revolution Medicines to $165.00 and gave the company an "outperform" rating in a research note on Thursday, May 7th. Weiss Ratings restated a "sell (d-)" rating on shares of Revolution Medicines in a research note on Tuesday, April 21st. Guggenheim lifted their price target on Revolution Medicines to $205.00 and gave the company a "buy" rating in a research note on Thursday, May 7th. Finally, HC Wainwright restated a "buy" rating on shares of Revolution Medicines in a research note on Wednesday, April 22nd. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $111.35.

Insider Buying and Selling at Revolution Medicines

In other Revolution Medicines news, insider Mark A. Goldsmith sold 120,000 shares of the stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $150.09, for a total transaction of $18,010,800.00. Following the completion of the transaction, the insider owned 276,698 shares of the company's stock, valued at $41,529,602.82. This represents a 30.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Stephen Michael Kelsey sold 4,302 shares of the stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $99.48, for a total value of $427,962.96. Following the transaction, the insider directly owned 295,398 shares of the company's stock, valued at $29,386,193.04. The trade was a 1.44% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 184,592 shares of company stock valued at $24,499,532. 8.20% of the stock is owned by insiders.

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.

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