a16z Perennial Management L.P. Makes New $67,000 Investment in Revolution Medicines, Inc. $RVMD

a16z Perennial Management L.P. bought a new position in Revolution Medicines, Inc. (NASDAQ:RVMD) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 1,823 shares of the company’s stock, valued at approximately $67,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of RVMD. Nextech Invest Ltd. raised its stake in Revolution Medicines by 20.7% during the fourth quarter. Nextech Invest Ltd. now owns 7,601,087 shares of the company’s stock worth $332,472,000 after purchasing an additional 1,304,347 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its stake in Revolution Medicines by 11.0% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,221 shares of the company’s stock worth $232,000 after purchasing an additional 615 shares during the period. KBC Group NV raised its stake in Revolution Medicines by 23.1% during the first quarter. KBC Group NV now owns 6,131 shares of the company’s stock worth $217,000 after purchasing an additional 1,152 shares during the period. WCM Investment Management LLC raised its stake in Revolution Medicines by 56.2% during the first quarter. WCM Investment Management LLC now owns 245,997 shares of the company’s stock worth $9,188,000 after purchasing an additional 88,520 shares during the period. Finally, Teacher Retirement System of Texas raised its stake in Revolution Medicines by 11.0% during the first quarter. Teacher Retirement System of Texas now owns 38,426 shares of the company’s stock worth $1,359,000 after purchasing an additional 3,794 shares during the period. 94.34% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on RVMD. Raymond James Financial increased their price target on shares of Revolution Medicines from $72.00 to $76.00 and gave the stock a “strong-buy” rating in a research note on Friday, October 17th. Stifel Nicolaus began coverage on shares of Revolution Medicines in a research note on Wednesday, October 15th. They set a “buy” rating and a $85.00 price target on the stock. National Bankshares set a $80.00 price target on shares of Revolution Medicines in a research note on Friday, October 17th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Revolution Medicines in a research note on Wednesday, October 8th. Finally, Lifesci Capital assumed coverage on shares of Revolution Medicines in a research report on Monday, August 18th. They issued an “outperform” rating and a $80.00 price objective for the company. Two analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $77.50.

Insider Buying and Selling at Revolution Medicines

In related news, insider Mark A. Goldsmith sold 13,411 shares of the firm’s stock in a transaction on Tuesday, September 16th. The shares were sold at an average price of $45.82, for a total transaction of $614,492.02. Following the completion of the sale, the insider directly owned 452,309 shares of the company’s stock, valued at approximately $20,724,798.38. This trade represents a 2.88% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Lin Wei sold 2,160 shares of the firm’s stock in a transaction on Tuesday, September 16th. The shares were sold at an average price of $45.82, for a total transaction of $98,971.20. Following the sale, the insider directly owned 88,339 shares of the company’s stock, valued at approximately $4,047,692.98. The trade was a 2.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 188,033 shares of company stock worth $8,456,208. 8.20% of the stock is currently owned by insiders.

Revolution Medicines Price Performance

Revolution Medicines stock opened at $57.99 on Tuesday. Revolution Medicines, Inc. has a 52-week low of $29.17 and a 52-week high of $62.40. The firm has a fifty day moving average of $44.63 and a 200-day moving average of $40.56. The firm has a market capitalization of $10.84 billion, a P/E ratio of -12.89 and a beta of 1.27. The company has a quick ratio of 11.79, a current ratio of 11.79 and a debt-to-equity ratio of 0.13.

Revolution Medicines (NASDAQ:RVMD) last released its quarterly earnings data on Wednesday, August 6th. The company reported ($1.31) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.94) by ($0.37). During the same period in the prior year, the business earned ($0.81) EPS. The business’s revenue was up .0% compared to the same quarter last year. As a group, analysts predict that Revolution Medicines, Inc. will post -3.49 EPS for the current year.

About Revolution Medicines

Revolution Medicines, Inc, a clinical-stage precision oncology company, develops novel targeted therapies for RAS-addicted cancers. The company’s research and development pipeline comprises RAS(ON) inhibitors designed to be used as monotherapy in combination with other RAS(ON) inhibitors and/or in combination with RAS companion inhibitors or other therapeutic agents, and RAS companion inhibitors for combination treatment strategies.