Jefferies Financial Group Inc. Raises Position in Revolution Medicines, Inc. $RVMD

Jefferies Financial Group Inc. increased its holdings in Revolution Medicines, Inc. (NASDAQ:RVMD) by 8,678.4% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,141,195 shares of the company’s stock after buying an additional 1,128,195 shares during the period. Revolution Medicines accounts for approximately 0.5% of Jefferies Financial Group Inc.’s portfolio, making the stock its 20th largest holding. Jefferies Financial Group Inc.’s holdings in Revolution Medicines were worth $90,896,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in RVMD. Nextech Invest Ltd. raised its position in shares of Revolution Medicines by 20.7% in the fourth quarter. Nextech Invest Ltd. now owns 7,601,087 shares of the company’s stock worth $332,472,000 after buying an additional 1,304,347 shares in the last quarter. Millennium Management LLC raised its position in shares of Revolution Medicines by 681.8% in the first quarter. Millennium Management LLC now owns 156,353 shares of the company’s stock worth $5,529,000 after buying an additional 136,353 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Revolution Medicines by 14.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 300,196 shares of the company’s stock worth $10,615,000 after buying an additional 37,345 shares in the last quarter. Invesco Ltd. raised its position in shares of Revolution Medicines by 19.3% in the second quarter. Invesco Ltd. now owns 227,019 shares of the company’s stock worth $8,352,000 after buying an additional 36,760 shares in the last quarter. Finally, Jump Financial LLC raised its position in shares of Revolution Medicines by 87.9% in the second quarter. Jump Financial LLC now owns 15,258 shares of the company’s stock worth $561,000 after buying an additional 7,137 shares in the last quarter. Hedge funds and other institutional investors own 94.34% of the company’s stock.

Insider Activity

In other news, insider Stephen Michael Kelsey sold 4,302 shares of the firm’s stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $99.48, for a total transaction of $427,962.96. Following the transaction, the insider directly owned 295,398 shares of the company’s stock, valued at approximately $29,386,193.04. This trade represents a 1.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Jack Anders sold 2,753 shares of the firm’s stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $99.48, for a total value of $273,868.44. Following the transaction, the chief financial officer directly owned 125,512 shares in the company, valued at $12,485,933.76. This trade represents a 2.15% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 184,592 shares of company stock valued at $24,499,532. Company insiders own 8.20% of the company’s stock.

Analyst Ratings Changes

RVMD has been the topic of a number of research reports. Evercore restated an “outperform” rating on shares of Revolution Medicines in a research report on Tuesday, April 14th. Jefferies Financial Group initiated coverage on Revolution Medicines in a research report on Monday, March 16th. They set a “buy” rating on the stock. Stifel Nicolaus restated a “buy” rating on shares of Revolution Medicines in a research report on Monday, April 20th. Weiss Ratings restated a “sell (d-)” rating on shares of Revolution Medicines in a research report on Tuesday, April 21st. Finally, Truist Financial initiated coverage on Revolution Medicines in a research report on Monday, May 18th. They set a “buy” rating and a $179.00 price target on the stock. Three investment 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 given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $111.35.

Revolution Medicines Trading Down 1.4%

NASDAQ RVMD opened at $151.56 on Friday. The stock’s 50-day simple moving average is $123.75 and its two-hundred day simple moving average is $101.21. Revolution Medicines, Inc. has a twelve month low of $34.00 and a twelve month high of $156.25. 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 company has a market capitalization of $32.22 billion, a price-to-earnings ratio of -21.44 and a beta of 1.41.

Revolution Medicines (NASDAQ:RVMD) last released its quarterly earnings results on Wednesday, May 6th. The company reported ($2.29) earnings per share 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. Research analysts forecast that Revolution Medicines, Inc. will post -7.75 EPS for the current fiscal year.

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.