Seven Fleet Capital Management LP Boosts Stake in Revolution Medicines, Inc. $RVMD

Seven Fleet Capital Management LP increased its stake in shares of Revolution Medicines, Inc. (NASDAQ:RVMD) by 22.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 80,792 shares of the company’s stock after purchasing an additional 14,992 shares during the period. Revolution Medicines makes up approximately 2.5% of Seven Fleet Capital Management LP’s investment portfolio, making the stock its 7th largest holding. Seven Fleet Capital Management LP’s holdings in Revolution Medicines were worth $7,857,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in RVMD. Global Retirement Partners LLC boosted its holdings in 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 buying an additional 361 shares during the last quarter. Indiana Trust & Investment Management Co acquired a new position in shares of Revolution Medicines during the 4th quarter worth about $32,000. Torren Management LLC acquired a new position in shares of Revolution Medicines during the 4th quarter worth about $33,000. Arax Advisory Partners bought a new stake in shares of Revolution Medicines in the 4th quarter valued at about $38,000. Finally, Darwin Wealth Management LLC bought a new stake in shares of Revolution Medicines in the 4th quarter valued at about $40,000. Institutional investors own 94.34% of the company’s stock.

Revolution Medicines Stock Performance

RVMD opened at $187.53 on Friday. The business’s 50-day moving average price is $172.57 and its two-hundred day moving average price is $134.85. Revolution Medicines, Inc. has a 1 year low of $34.00 and a 1 year high of $194.56. The company has a market capitalization of $39.87 billion, a price-to-earnings ratio of -26.52 and a beta of 1.37. The company has a debt-to-equity ratio of 0.19, a current ratio of 6.80 and a quick ratio of 6.80.

Revolution Medicines (NASDAQ:RVMD) last issued its quarterly earnings results on Wednesday, May 6th. The company reported ($2.29) EPS for the quarter, missing analysts’ consensus estimates of ($1.83) by ($0.46). During the same quarter in the prior year, the company posted ($1.13) 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 other Revolution Medicines news, COO Margaret A. Horn sold 29,600 shares of the business’s stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $160.12, for a total value of $4,739,552.00. Following the sale, the chief operating officer owned 154,647 shares in the company, valued at approximately $24,762,077.64. The trade was a 16.07% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Mark A. Goldsmith sold 10,020 shares of the business’s stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $156.12, for a total value of $1,564,322.40. Following the completion of the sale, the insider owned 267,330 shares in the company, valued at $41,735,559.60. The trade was a 3.61% 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 132,497 shares of company stock worth $21,470,486 in the last 90 days. Company insiders own 7.60% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Evercore reissued 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 note on Friday, July 17th. Oppenheimer increased their target price on shares of Revolution Medicines from $165.00 to $195.00 and gave the stock an “outperform” rating in a report on Monday, June 1st. Wedbush lifted their price target on shares of Revolution Medicines from $181.00 to $192.10 and gave the stock an “outperform” rating in a research report on Thursday, July 23rd. Finally, Mizuho boosted their price target on shares of Revolution Medicines from $185.00 to $215.00 and gave the company an “outperform” rating in a report on Monday, July 6th. Two analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $144.67.

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.