IFM Investors Pty Ltd Makes New $2.80 Million Investment in Revolution Medicines, Inc. $RVMD

IFM Investors Pty Ltd bought a new position in Revolution Medicines, Inc. (NASDAQ:RVMD) during the first quarter, according to its most recent 13F filing with the SEC. The fund bought 28,809 shares of the company’s stock, valued at approximately $2,802,000.

Other hedge funds have also recently made changes to their positions in the company. PNC Financial Services Group Inc. grew its position in Revolution Medicines by 1.3% in the fourth quarter. PNC Financial Services Group Inc. now owns 10,066 shares of the company’s stock worth $802,000 after acquiring an additional 125 shares in the last quarter. Deutsche Bank AG raised its position in Revolution Medicines by 0.4% during the fourth quarter. Deutsche Bank AG now owns 32,217 shares of the company’s stock valued at $2,566,000 after purchasing an additional 130 shares during the period. Signaturefd LLC raised its position in Revolution Medicines by 33.1% during the fourth quarter. Signaturefd LLC now owns 656 shares of the company’s stock valued at $52,000 after purchasing an additional 163 shares during the period. Allworth Financial LP lifted its stake in shares of Revolution Medicines by 57.2% in the 4th quarter. Allworth Financial LP now owns 577 shares of the company’s stock valued at $46,000 after purchasing an additional 210 shares during the last quarter. Finally, Farther Finance Advisors LLC lifted its stake in shares of Revolution Medicines by 44.7% in the 4th quarter. Farther Finance Advisors LLC now owns 751 shares of the company’s stock valued at $60,000 after purchasing an additional 232 shares during the last quarter. 94.34% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CFO Jack Anders sold 20,000 shares of Revolution Medicines stock in a transaction on Wednesday, June 24th. The stock was sold at an average price of $168.33, for a total transaction of $3,366,600.00. Following the completion of the sale, the chief financial officer directly owned 123,269 shares in the company, valued at approximately $20,749,870.77. This trade represents a 13.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Sushil Patel sold 5,580 shares of the business’s stock in a transaction on Monday, June 29th. The shares were sold at an average price of $187.99, for a total transaction of $1,048,984.20. Following the sale, the director directly owned 21,656 shares of the company’s stock, valued at $4,071,111.44. This represents a 20.49% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 252,497 shares of company stock worth $39,481,286 over the last ninety days. Corporate insiders own 7.60% of the company’s stock.

Analyst Upgrades and Downgrades

RVMD has been the topic of several analyst reports. Piper Sandler boosted their target price on Revolution Medicines to $172.00 and gave the company an “overweight” rating in a research report on Thursday, May 7th. Royal Bank Of Canada raised their price target on Revolution Medicines from $165.00 to $182.00 and gave the stock an “outperform” rating in a research report on Tuesday, June 2nd. 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. Sanford C. Bernstein started coverage on shares of Revolution Medicines in a research report on Thursday, May 21st. They set a “market perform” rating and a $151.00 price objective on the stock. Finally, Needham & Company LLC boosted their price objective on shares of Revolution Medicines from $183.00 to $235.00 and gave the company a “buy” rating in a research report on Monday, June 29th. Three equities research 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 stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $135.39.

Revolution Medicines Price Performance

Shares of NASDAQ:RVMD opened at $189.24 on Friday. The firm has a market capitalization of $40.23 billion, a PE ratio of -26.77 and a beta of 1.37. The business has a 50 day simple moving average of $156.00 and a two-hundred day simple moving average of $120.55. Revolution Medicines, Inc. has a 1 year low of $34.00 and a 1 year high of $193.10. 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) earnings per share for the quarter, missing the consensus estimate of ($1.83) by ($0.46). During the same period in the previous year, the firm posted ($1.13) earnings per share. On average, equities analysts predict that Revolution Medicines, Inc. will post -7.94 EPS for the current year.

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.