Algert Global LLC Grows Stock Position in Revolution Medicines, Inc. $RVMD

Algert Global LLC boosted its holdings in Revolution Medicines, Inc. (NASDAQ:RVMD) by 141.1% during the third quarter, Holdings Channel.com reports. The fund owned 166,315 shares of the company’s stock after acquiring an additional 97,332 shares during the period. Algert Global LLC’s holdings in Revolution Medicines were worth $7,767,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in RVMD. New York State Common Retirement Fund grew its position in shares of Revolution Medicines by 39.3% in the third quarter. New York State Common Retirement Fund now owns 119,807 shares of the company’s stock valued at $5,595,000 after purchasing an additional 33,821 shares during the last quarter. Raiffeisen Bank International AG purchased a new position in shares of Revolution Medicines during the 3rd quarter worth approximately $921,000. NEOS Investment Management LLC raised its position in shares of Revolution Medicines by 34.7% during the 3rd quarter. NEOS Investment Management LLC now owns 126,921 shares of the company’s stock worth $5,927,000 after purchasing an additional 32,694 shares during the last quarter. Tema Etfs LLC raised its position in shares of Revolution Medicines by 34.7% during the 3rd quarter. Tema Etfs LLC now owns 126,921 shares of the company’s stock worth $5,927,000 after purchasing an additional 32,694 shares during the last quarter. Finally, Knights of Columbus Asset Advisors LLC purchased a new stake in Revolution Medicines in the 3rd quarter valued at approximately $587,000. 94.34% of the stock is currently owned by hedge funds and other institutional investors.

Revolution Medicines Stock Up 4.4%

RVMD stock opened at $99.00 on Tuesday. The company has a 50 day moving average price of $103.29 and a two-hundred day moving average price of $75.66. The company has a debt-to-equity ratio of 0.16, a quick ratio of 7.14 and a current ratio of 7.14. The stock has a market capitalization of $19.62 billion, a P/E ratio of -16.75 and a beta of 0.99. Revolution Medicines, Inc. has a one year low of $29.17 and a one year high of $124.49.

Revolution Medicines (NASDAQ:RVMD) last issued its quarterly earnings results on Wednesday, February 25th. The company reported ($1.86) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.56) by ($0.30). During the same period in the prior year, the firm earned ($1.12) earnings per share. As a group, sell-side analysts expect that Revolution Medicines, Inc. will post -3.49 EPS for the current year.

Insider Activity at Revolution Medicines

In related news, CFO Jack Anders sold 10,000 shares of the stock in a transaction dated Wednesday, January 7th. The stock was sold at an average price of $98.00, for a total transaction of $980,000.00. Following the transaction, the chief financial officer directly owned 108,065 shares in the company, valued at approximately $10,590,370. This represents a 8.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, COO Margaret A. Horn sold 75,000 shares of the firm’s stock in a transaction dated Wednesday, January 7th. The stock was sold at an average price of $100.56, for a total value of $7,542,000.00. Following the completion of the sale, the chief operating officer directly owned 141,053 shares in the company, valued at approximately $14,184,289.68. The trade was a 34.71% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 121,000 shares of company stock worth $12,166,400. 8.20% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on RVMD shares. UBS Group began coverage on Revolution Medicines in a report on Friday, February 27th. They set a “buy” rating on the stock. Wolfe Research initiated coverage on Revolution Medicines in a research report on Tuesday, November 18th. They issued an “outperform” rating and a $75.00 price objective on the stock. Jefferies Financial Group initiated coverage on Revolution Medicines in a research note on Monday. They set a “buy” rating on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Revolution Medicines in a research report on Thursday, January 22nd. Finally, Evercore raised shares of Revolution Medicines to a “strong-buy” rating in a research note on Wednesday, February 25th. Four investment analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Revolution Medicines currently has an average rating of “Buy” and a consensus target price of $78.94.

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.