Quantinno Capital Management LP Boosts Stock Position in Revolution Medicines, Inc. $RVMD

Quantinno Capital Management LP increased its position in shares of Revolution Medicines, Inc. (NASDAQ:RVMD) by 97.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 63,360 shares of the company’s stock after acquiring an additional 31,297 shares during the period. Quantinno Capital Management LP’s holdings in Revolution Medicines were worth $6,162,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Indiana Trust & Investment Management Co acquired a new position in Revolution Medicines in the 4th quarter valued at about $32,000. Global Retirement Partners LLC lifted 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 position in shares of Revolution Medicines in the fourth quarter valued at approximately $33,000. Arax Advisory Partners purchased a new position in shares of Revolution Medicines in the fourth quarter valued at approximately $38,000. Finally, Darwin Wealth Management LLC acquired a new position in shares of Revolution Medicines in the fourth quarter valued at approximately $40,000. 94.34% of the stock is currently owned by hedge funds and other institutional investors.

Revolution Medicines Price Performance

Revolution Medicines stock opened at $197.30 on Thursday. 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 company has a fifty day simple moving average of $174.85 and a 200-day simple moving average of $136.44. The stock has a market cap of $41.95 billion, a P/E ratio of -27.91 and a beta of 1.39. Revolution Medicines, Inc. has a 12-month low of $34.00 and a 12-month high of $198.30.

Revolution Medicines (NASDAQ:RVMD) last posted its earnings results on Wednesday, August 5th. The company reported ($3.06) EPS for the quarter, missing the consensus estimate of ($2.04) by ($1.02). During the same quarter in the previous year, the firm earned ($1.31) earnings per share. Equities analysts expect that Revolution Medicines, Inc. will post -7.92 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Stephen Michael Kelsey sold 4,175 shares of the business’s stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $156.12, for a total transaction of $651,801.00. Following the completion of the sale, the insider owned 291,876 shares in the company, valued at $45,567,681.12. The trade was a 1.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Margaret A. Horn sold 60,400 shares of the company’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $160.17, for a total value of $9,674,268.00. Following the completion of the transaction, the chief operating officer directly owned 158,222 shares of the company’s stock, valued at $25,342,417.74. This trade represents a 27.63% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders have sold 132,497 shares of company stock worth $21,470,486. 7.60% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on RVMD shares. Sanford C. Bernstein began coverage on shares of Revolution Medicines in a report on Thursday, May 21st. They set a “market perform” rating and a $151.00 target price on the stock. Evercore restated an “outperform” rating on shares of Revolution Medicines in a research note on Tuesday, April 14th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Revolution Medicines in a research report on Friday, July 17th. Stifel Nicolaus reissued a “buy” rating on shares of Revolution Medicines in a research note on Monday, April 20th. Finally, Wedbush upped their price target on Revolution Medicines from $181.00 to $192.10 and gave the stock an “outperform” rating in a report on Thursday, July 23rd. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $144.67.

About Revolution Medicines

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.