Seven Fleet Capital Management LP Invests $5.24 Million in Revolution Medicines, Inc. $RVMD

Seven Fleet Capital Management LP acquired a new position in shares of Revolution Medicines, Inc. (NASDAQ:RVMD) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 65,800 shares of the company’s stock, valued at approximately $5,241,000. Revolution Medicines makes up 4.0% of Seven Fleet Capital Management LP’s portfolio, making the stock its 3rd biggest position.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Indiana Trust & Investment Management Co purchased a new position in Revolution Medicines in the fourth quarter worth $32,000. Global Retirement Partners LLC increased its position in shares of Revolution Medicines by 1,002.8% during the fourth quarter. Global Retirement Partners LLC now owns 397 shares of the company’s stock worth $32,000 after purchasing an additional 361 shares in the last quarter. Torren Management LLC purchased a new stake in shares of Revolution Medicines during the 4th quarter valued at $33,000. Arax Advisory Partners purchased a new stake in shares of Revolution Medicines during the 4th quarter valued at $38,000. Finally, Darwin Wealth Management LLC acquired a new stake in shares of Revolution Medicines in the 4th quarter worth $40,000. Hedge funds and other institutional investors own 94.34% of the company’s stock.

Insider Transactions at Revolution Medicines

In other news, 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 value 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 represents a 1.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Jack Anders sold 2,722 shares of the firm’s stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $156.12, for a total value of $424,958.64. Following the completion of the transaction, the chief financial officer owned 123,269 shares of the company’s stock, valued at approximately $19,244,756.28. The trade was a 2.16% 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. Insiders have sold a total of 226,917 shares of company stock worth $35,065,702 in the last 90 days. 7.60% of the stock is owned by company insiders.

Revolution Medicines Price Performance

Shares of RVMD opened at $162.99 on Friday. The firm has a market capitalization of $34.65 billion, a PE ratio of -23.05 and a beta of 1.40. 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, Inc. has a 1-year low of $34.00 and a 1-year high of $166.50. The company’s fifty day moving average price is $145.72 and its 200-day moving average price is $112.99.

Revolution Medicines (NASDAQ:RVMD) last released its earnings results on Wednesday, May 6th. The company reported ($2.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.83) by ($0.46). During the same quarter in the previous year, the business earned ($1.13) earnings per share. On average, equities research analysts predict that Revolution Medicines, Inc. will post -7.94 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Truist Financial began coverage on Revolution Medicines in a research note on Monday, May 18th. They set a “buy” rating and a $179.00 target price on the stock. Royal Bank Of Canada raised their price target on Revolution Medicines from $165.00 to $182.00 and gave the stock an “outperform” rating in a report on Tuesday, June 2nd. Wedbush reissued an “outperform” rating on shares of Revolution Medicines in a report on Monday, June 1st. Weiss Ratings restated a “sell (d-)” rating on shares of Revolution Medicines in a research note on Tuesday, April 21st. Finally, Jefferies Financial Group assumed coverage on shares of Revolution Medicines in a report on Monday, March 16th. They set a “buy” rating on the stock. Three research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Revolution Medicines presently has an average rating of “Buy” and a consensus target price of $123.72.

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.