Revolution Medicines, Inc. $RVMD Shares Acquired by Persistent Asset Partners Ltd

Persistent Asset Partners Ltd increased its stake in Revolution Medicines, Inc. (NASDAQ:RVMD) by 28.7% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 17,537 shares of the company’s stock after acquiring an additional 3,910 shares during the quarter. Persistent Asset Partners Ltd’s holdings in Revolution Medicines were worth $1,397,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the stock. Vanguard Group Inc. grew its holdings in shares of Revolution Medicines by 6.7% in the 4th quarter. Vanguard Group Inc. now owns 16,719,886 shares of the company’s stock worth $1,331,739,000 after acquiring an additional 1,056,792 shares during the last quarter. Farallon Capital Management LLC grew its holdings in shares of Revolution Medicines by 2.1% in the 3rd quarter. Farallon Capital Management LLC now owns 14,625,692 shares of the company’s stock worth $683,020,000 after acquiring an additional 300,000 shares during the last quarter. Baker BROS. Advisors LP grew its holdings in shares of Revolution Medicines by 1.0% in the 3rd quarter. Baker BROS. Advisors LP now owns 9,455,357 shares of the company’s stock worth $441,565,000 after acquiring an additional 90,385 shares during the last quarter. Nextech Invest Ltd. grew its holdings in shares of Revolution Medicines by 20.7% in the 4th quarter. Nextech Invest Ltd. now owns 7,601,087 shares of the company’s stock worth $332,472,000 after acquiring an additional 1,304,347 shares during the last quarter. Finally, Paradigm Biocapital Advisors LP grew its holdings in shares of Revolution Medicines by 2.1% in the 3rd quarter. Paradigm Biocapital Advisors LP now owns 6,223,291 shares of the company’s stock worth $290,628,000 after acquiring an additional 130,000 shares during the last quarter. 94.34% of the stock is currently owned by institutional investors and hedge funds.

Revolution Medicines Stock Performance

Shares of RVMD stock opened at $156.58 on Wednesday. Revolution Medicines, Inc. has a 1-year low of $34.00 and a 1-year high of $166.50. 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 market capitalization of $33.29 billion, a price-to-earnings ratio of -22.15 and a beta of 1.40. The stock’s fifty day simple moving average is $143.13 and its 200-day simple moving average is $111.82.

Revolution Medicines (NASDAQ:RVMD) last issued 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. On average, sell-side analysts predict that Revolution Medicines, Inc. will post -7.94 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Revolution Medicines news, insider Mark A. Goldsmith sold 120,000 shares of the business’s stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $150.09, for a total value of $18,010,800.00. Following the transaction, the insider owned 276,698 shares in the company, valued at $41,529,602.82. The trade was a 30.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 7.60% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Sanford C. Bernstein assumed coverage on Revolution Medicines in a report on Thursday, May 21st. They issued a “market perform” rating and a $151.00 target price on the stock. Wedbush reiterated an “outperform” rating on shares of Revolution Medicines in a report on Monday, June 1st. Jefferies Financial Group assumed coverage on Revolution Medicines in a report on Monday, March 16th. They set a “buy” rating on the stock. Guggenheim lifted their price target on Revolution Medicines to $205.00 and gave the company a “buy” rating in a report on Thursday, May 7th. Finally, Stifel Nicolaus reiterated a “buy” rating on shares of Revolution Medicines in a report on Monday, April 20th. Three research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target 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.