SG Americas Securities LLC Buys 36,703 Shares of Revolution Medicines, Inc. $RVMD

SG Americas Securities LLC raised its stake in Revolution Medicines, Inc. (NASDAQ:RVMD) by 219.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 53,426 shares of the company’s stock after acquiring an additional 36,703 shares during the period. SG Americas Securities LLC’s holdings in Revolution Medicines were worth $5,196,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. lifted its position in Revolution Medicines by 6.7% during the fourth quarter. Vanguard Group Inc. now owns 16,719,886 shares of the company’s stock worth $1,331,739,000 after purchasing an additional 1,056,792 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its holdings in Revolution Medicines by 194.6% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 21,289 shares of the company’s stock valued at $1,696,000 after buying an additional 14,062 shares during the period. Mass General Brigham Inc bought a new position in Revolution Medicines in the 4th quarter valued at about $27,407,000. M&T Bank Corp acquired a new position in shares of Revolution Medicines in the 4th quarter valued at approximately $52,723,000. Finally, Eagle Health Investments LP acquired a new position in shares of Revolution Medicines in the 4th quarter valued at approximately $9,231,000. 94.34% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Stifel Nicolaus reaffirmed a “buy” rating on shares of Revolution Medicines in a report on Monday, April 20th. Sanford C. Bernstein started coverage on shares of Revolution Medicines in a research note on Thursday, May 21st. They issued a “market perform” rating and a $151.00 price objective on the stock. Truist Financial initiated coverage on shares of Revolution Medicines in a research report on Monday, May 18th. They set a “buy” rating and a $179.00 price objective for the company. Weiss Ratings restated a “sell (d-)” rating on shares of Revolution Medicines in a research note on Tuesday, April 21st. Finally, HC Wainwright raised their target price on Revolution Medicines from $169.00 to $195.00 and gave the company a “buy” rating in a report on Monday, June 1st. Three investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $123.72.

Insider Transactions at Revolution Medicines

In related news, CFO Jack Anders sold 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 24th. The shares were sold at an average price of $168.33, for a total value of $3,366,600.00. Following the completion of the transaction, the chief financial officer owned 123,269 shares in the company, valued at $20,749,870.77. This trade represents a 13.96% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Mark A. Goldsmith sold 120,000 shares of Revolution Medicines stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $150.09, for a total transaction of $18,010,800.00. Following the sale, the insider owned 276,698 shares in the company, valued at approximately $41,529,602.82. This represents a 30.25% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 246,917 shares of company stock worth $38,432,302. 7.60% of the stock is owned by corporate insiders.

Revolution Medicines Stock Performance

Shares of RVMD stock opened at $182.08 on Monday. Revolution Medicines, Inc. has a twelve month low of $34.00 and a twelve month high of $184.39. The stock’s fifty day simple moving average is $151.78 and its 200 day simple moving average is $116.94. The company has a quick ratio of 6.80, a current ratio of 6.80 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $38.71 billion, a P/E ratio of -25.75 and a beta of 1.40.

Revolution Medicines (NASDAQ:RVMD) last posted its earnings results on Wednesday, May 6th. The company reported ($2.29) EPS for the quarter, missing the consensus estimate of ($1.83) by ($0.46). During the same quarter in the previous year, the company posted ($1.13) earnings per share. As a group, sell-side analysts predict that Revolution Medicines, Inc. will post -7.94 EPS 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.