BIT Capital GmbH Grows Stake in Revolution Medicines, Inc. $RVMD

BIT Capital GmbH lifted its holdings in shares of Revolution Medicines, Inc. (NASDAQ:RVMD) by 1,108.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,400 shares of the company’s stock after buying an additional 16,878 shares during the quarter. BIT Capital GmbH’s holdings in Revolution Medicines were worth $1,466,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. WINTON GROUP Ltd bought a new position in shares of Revolution Medicines in the 4th quarter worth $1,018,000. J.W. Cole Advisors Inc. purchased a new stake in shares of Revolution Medicines in the 4th quarter valued at $216,000. Westfield Capital Management Co. LP boosted its position in Revolution Medicines by 13.2% during the 4th quarter. Westfield Capital Management Co. LP now owns 2,845,013 shares of the company’s stock valued at $226,605,000 after buying an additional 331,046 shares during the period. CIBC Asset Management Inc boosted its position in Revolution Medicines by 17.9% during the 4th quarter. CIBC Asset Management Inc now owns 6,038 shares of the company’s stock valued at $481,000 after buying an additional 917 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in Revolution Medicines by 2.4% during the 4th quarter. Bank of New York Mellon Corp now owns 542,069 shares of the company’s stock valued at $43,176,000 after buying an additional 12,799 shares during the period. Institutional investors own 94.34% of the company’s stock.

Insider Activity at Revolution Medicines

In other Revolution Medicines news, CFO Jack Anders sold 2,753 shares of Revolution Medicines stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $99.48, for a total transaction of $273,868.44. Following the completion of the transaction, the chief financial officer directly owned 125,512 shares of the company’s stock, valued at $12,485,933.76. The trade was a 2.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Margaret A. Horn sold 4,583 shares of Revolution Medicines stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $99.48, for a total transaction of $455,916.84. Following the transaction, the chief operating officer directly owned 157,570 shares of the company’s stock, valued at $15,675,063.60. The trade was a 2.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 148,592 shares of company stock valued at $20,855,132 over the last three months. Corporate insiders own 7.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on RVMD. Guggenheim raised their target price on shares of Revolution Medicines to $205.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Weiss Ratings restated a “sell (d-)” rating on shares of Revolution Medicines in a research note on Tuesday, April 21st. HC Wainwright raised their price objective on shares of Revolution Medicines from $169.00 to $195.00 and gave the company a “buy” rating in a research note on Monday. Oppenheimer raised their price target on shares of Revolution Medicines from $165.00 to $195.00 and gave the company an “outperform” rating in a report on Monday. Finally, Jefferies Financial Group began coverage on shares of Revolution Medicines in a report on Monday, March 16th. They issued a “buy” rating on the stock. Three research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $123.72.

Revolution Medicines Trading Down 4.1%

Revolution Medicines stock opened at $149.23 on Friday. The firm’s 50 day moving average price is $135.34 and its 200-day moving average price is $107.66. Revolution Medicines, Inc. has a 1 year low of $34.00 and a 1 year high of $166.50. The stock has a market cap of $31.73 billion, a P/E ratio of -21.11 and a beta of 1.40. 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 announced its quarterly earnings results on Wednesday, May 6th. The company reported ($2.29) earnings per share for the quarter, missing the consensus estimate of ($1.83) by ($0.46). During the same period in the prior year, the company posted ($1.13) EPS. On average, equities analysts predict that Revolution Medicines, Inc. will post -7.94 earnings per share for the current fiscal year.

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.