IFM Investors Pty Ltd Invests $2.80 Million in Revolution Medicines, Inc. $RVMD

IFM Investors Pty Ltd purchased a new stake in shares of Revolution Medicines, Inc. (NASDAQ:RVMD) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 28,809 shares of the company’s stock, valued at approximately $2,802,000.

Other large investors have also recently modified their holdings of the company. Indiana Trust & Investment Management Co bought a new position in Revolution Medicines in the fourth quarter worth approximately $32,000. Global Retirement Partners LLC raised its position in Revolution Medicines by 1,002.8% during the 4th quarter. Global Retirement Partners LLC now owns 397 shares of the company’s stock valued at $32,000 after purchasing an additional 361 shares in the last quarter. Torren Management LLC bought a new stake in Revolution Medicines during the 4th quarter valued at $33,000. Arax Advisory Partners bought a new stake in Revolution Medicines during the 4th quarter valued at $38,000. Finally, Darwin Wealth Management LLC purchased 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.

Revolution Medicines Price Performance

Revolution Medicines stock opened at $189.24 on Friday. The business has a fifty day moving average of $156.00 and a two-hundred day moving average of $120.55. The company has a quick ratio of 6.80, a current ratio of 6.80 and a debt-to-equity ratio of 0.19. The firm has a market cap of $40.23 billion, a P/E ratio of -26.77 and a beta of 1.37. Revolution Medicines, Inc. has a twelve month low of $34.00 and a twelve month high of $193.10.

Revolution Medicines (NASDAQ:RVMD) last announced its quarterly earnings results on Wednesday, May 6th. The company reported ($2.29) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.83) by ($0.46). During the same quarter last year, the firm posted ($1.13) earnings per share. On average, analysts forecast that Revolution Medicines, Inc. will post -7.94 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Needham & Company LLC increased their price target on Revolution Medicines from $183.00 to $235.00 and gave the stock a “buy” rating in a research report on Monday, June 29th. HC Wainwright lifted their price objective on Revolution Medicines from $169.00 to $195.00 and gave the company a “buy” rating in a report on Monday, June 1st. Truist Financial upped their price objective on shares of Revolution Medicines from $179.00 to $210.00 and gave the stock a “buy” rating in a research note on Tuesday. Wedbush increased their target price on shares of Revolution Medicines from $165.00 to $181.00 and gave the stock an “outperform” rating in a report on Thursday. Finally, Piper Sandler raised their target price on shares of Revolution Medicines to $172.00 and gave the company an “overweight” rating in a research report on Thursday, May 7th. Three research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $135.39.

Insider Activity at Revolution Medicines

In related 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 transaction of $1,048,984.20. Following the sale, the director owned 21,656 shares of the company’s stock, valued at $4,071,111.44. This trade represents a 20.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Margaret A. Horn sold 29,600 shares of Revolution Medicines stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $160.12, for a total value of $4,739,552.00. Following the completion of the transaction, the chief operating officer owned 154,647 shares in the company, valued at $24,762,077.64. This trade represents a 16.07% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 252,497 shares of company stock valued at $39,481,286 over the last 90 days. Company insiders own 7.60% of the company’s stock.

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.