Legato Capital Management LLC Acquires 14,097 Shares of Revolution Medicines, Inc. $RVMD

Legato Capital Management LLC increased its holdings in Revolution Medicines, Inc. (NASDAQ:RVMD) by 40.7% during the 4th quarter, HoldingsChannel.com reports. The firm owned 48,751 shares of the company’s stock after purchasing an additional 14,097 shares during the period. Legato Capital Management LLC’s holdings in Revolution Medicines were worth $3,883,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of RVMD. Indiana Trust & Investment Management Co bought a new stake in Revolution Medicines during the fourth quarter valued at $32,000. Global Retirement Partners LLC boosted its position in Revolution Medicines by 1,002.8% during the fourth quarter. Global Retirement Partners LLC now owns 397 shares of the company’s stock valued at $32,000 after acquiring an additional 361 shares during the last quarter. Torren Management LLC bought a new stake in Revolution Medicines during the fourth quarter valued at $33,000. Darwin Wealth Management LLC bought a new stake in Revolution Medicines during the fourth quarter valued at $40,000. Finally, Allworth Financial LP boosted its position in Revolution Medicines by 57.2% during the fourth quarter. Allworth Financial LP now owns 577 shares of the company’s stock valued at $46,000 after acquiring an additional 210 shares during the last quarter. Institutional investors own 94.34% of the company’s stock.

Insider Activity

In other news, insider Stephen Michael Kelsey sold 4,302 shares of the company’s stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $99.48, for a total transaction of $427,962.96. Following the transaction, the insider owned 295,398 shares in the company, valued at approximately $29,386,193.04. This represents a 1.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Jack Anders sold 2,753 shares of the company’s stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $99.48, for a total transaction of $273,868.44. Following the transaction, the chief financial officer owned 125,512 shares in the company, valued at $12,485,933.76. This represents a 2.15% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 184,592 shares of company stock valued at $24,499,532. Corporate insiders own 8.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Royal Bank Of Canada upped their price target on shares of Revolution Medicines to $165.00 and gave the company an “outperform” rating in a research report on Thursday, May 7th. Jefferies Financial Group assumed coverage on shares of Revolution Medicines in a research report on Monday, March 16th. They set a “buy” rating on the stock. Evercore reaffirmed an “outperform” rating on shares of Revolution Medicines in a research report on Tuesday, April 14th. Stifel Nicolaus reaffirmed a “buy” rating on shares of Revolution Medicines in a research report on Monday, April 20th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Revolution Medicines in a research report on Tuesday, April 21st. Three analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $111.35.

Revolution Medicines Price Performance

Shares of NASDAQ RVMD opened at $151.56 on Friday. The firm’s 50-day moving average price is $123.75 and its 200-day moving average price is $101.21. Revolution Medicines, Inc. has a 1-year low of $34.00 and a 1-year high of $156.25. The firm has a market capitalization of $32.22 billion, a P/E ratio of -21.44 and a beta of 1.41. The company has a current ratio of 6.80, a quick ratio of 6.80 and a debt-to-equity ratio of 0.19.

Revolution Medicines (NASDAQ:RVMD) last announced its quarterly earnings data 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 quarter in the previous year, the business posted ($1.13) EPS. Equities research analysts anticipate that Revolution Medicines, Inc. will post -7.75 earnings per share for the current fiscal year.

About Revolution Medicines

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.