PSP Research LLC Purchases Shares of 6,872 Revolution Medicines, Inc. $RVMD

PSP Research LLC purchased a new stake in shares of Revolution Medicines, Inc. (NASDAQ:RVMD) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 6,872 shares of the company’s stock, valued at approximately $547,000. Revolution Medicines comprises 0.5% of PSP Research LLC’s portfolio, making the stock its 14th largest position.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Indiana Trust & Investment Management Co bought a new position in shares of Revolution Medicines in the fourth quarter worth approximately $32,000. Torren Management LLC bought a new position in shares of Revolution Medicines in the fourth quarter worth approximately $33,000. Darwin Wealth Management LLC bought a new position in shares of Revolution Medicines in the fourth quarter worth approximately $40,000. Allworth Financial LP grew its holdings in shares of Revolution Medicines by 57.2% in the fourth quarter. Allworth Financial LP now owns 577 shares of the company’s stock worth $46,000 after purchasing an additional 210 shares during the last quarter. Finally, Signaturefd LLC grew its holdings in shares of Revolution Medicines by 33.1% in the fourth quarter. Signaturefd LLC now owns 656 shares of the company’s stock worth $52,000 after purchasing an additional 163 shares during the last quarter. 94.34% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CFO Jack Anders sold 2,753 shares of the company’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 owned 125,512 shares in the company, valued at $12,485,933.76. The trade was a 2.15% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Stephen Michael Kelsey sold 4,302 shares of the company’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 completion of the transaction, the insider owned 295,398 shares in the company, valued at approximately $29,386,193.04. The trade was a 1.44% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 184,592 shares of company stock worth $24,499,532 over the last quarter. 8.20% of the stock is owned by insiders.

Revolution Medicines Stock Performance

Shares of Revolution Medicines stock opened at $147.30 on Wednesday. The company has a current ratio of 6.80, a quick ratio of 6.80 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $31.32 billion, a P/E ratio of -20.83 and a beta of 1.41. The business has a fifty day simple moving average of $120.60 and a two-hundred day simple moving average of $99.54. Revolution Medicines, Inc. has a 12 month low of $34.00 and a 12 month high of $155.70.

Revolution Medicines (NASDAQ:RVMD) last announced its quarterly earnings data on Wednesday, May 6th. The company reported ($2.29) EPS for the quarter, missing the consensus estimate of ($1.83) by ($0.46). During the same quarter last year, the firm earned ($1.13) earnings per share. On average, equities analysts forecast that Revolution Medicines, Inc. will post -7.75 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on RVMD shares. HC Wainwright reiterated a “buy” rating on shares of Revolution Medicines in a report on Wednesday, April 22nd. Truist Financial started coverage on shares of Revolution Medicines in a report on Monday. They issued a “buy” rating and a $179.00 price target on the stock. Guggenheim lifted their price target on shares of Revolution Medicines to $205.00 and gave the company a “buy” rating in a report on Thursday, May 7th. Jefferies Financial Group started coverage on shares of Revolution Medicines in a report on Monday, March 16th. They issued a “buy” rating on the stock. Finally, Benchmark reiterated an “overweight” rating on shares of Revolution Medicines in a report on Tuesday, February 17th. Three analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $108.88.

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.