OP Asset Management Ltd Takes Position in Revolution Medicines, Inc. $RVMD

OP Asset Management Ltd acquired a new position in shares of Revolution Medicines, Inc. (NASDAQ:RVMD) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 33,633 shares of the company’s stock, valued at approximately $3,271,000.

Several other institutional investors have also recently added to or reduced their stakes in the company. Indiana Trust & Investment Management Co purchased a new stake in shares of Revolution Medicines during the fourth quarter worth about $32,000. Global Retirement Partners LLC raised its position in shares of Revolution Medicines by 1,002.8% in the fourth quarter. Global Retirement Partners LLC now owns 397 shares of the company’s stock valued at $32,000 after buying an additional 361 shares during the last quarter. Torren Management LLC purchased a new position in shares of Revolution Medicines during the fourth quarter valued at approximately $33,000. Arax Advisory Partners purchased a new position in shares of Revolution Medicines during the fourth quarter valued at approximately $38,000. Finally, Darwin Wealth Management LLC acquired a new stake in Revolution Medicines during the fourth quarter worth approximately $40,000. Institutional investors and hedge funds own 94.34% of the company’s stock.

Revolution Medicines Trading Up 2.2%

NASDAQ:RVMD opened at $182.08 on Friday. The business’s 50-day moving average is $151.78 and its two-hundred day moving average is $116.68. The firm has a market capitalization of $38.71 billion, a PE ratio of -25.75 and a beta of 1.40. Revolution Medicines, Inc. has a 12 month low of $34.00 and a 12 month high of $184.39. 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 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 firm earned ($1.13) earnings per share. Research analysts predict that Revolution Medicines, Inc. will post -7.94 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently issued reports on RVMD. Stifel Nicolaus restated a “buy” rating on shares of Revolution Medicines in a report on Monday, April 20th. Piper Sandler increased their target price on Revolution Medicines to $172.00 and gave the stock an “overweight” rating in a research report on Thursday, May 7th. Guggenheim raised their price target on Revolution Medicines to $205.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Evercore restated an “outperform” rating on shares of Revolution Medicines in a report on Tuesday, April 14th. Finally, Jefferies Financial Group assumed coverage on shares of Revolution Medicines in a research note on Monday, March 16th. They set a “buy” rating for the company. Three equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $123.72.

Insider Activity

In other news, insider Mark A. Goldsmith sold 10,020 shares of the business’s stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $156.12, for a total transaction of $1,564,322.40. Following the transaction, the insider directly owned 267,330 shares of the company’s stock, valued at approximately $41,735,559.60. The trade was a 3.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Stephen Michael Kelsey sold 4,175 shares of the company’s stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $156.12, for a total transaction of $651,801.00. Following the completion of the transaction, the insider owned 291,876 shares of the company’s stock, valued at $45,567,681.12. This trade represents a 1.41% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders have sold 246,917 shares of company stock worth $38,432,302. Company insiders own 7.60% of the company’s stock.

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.