Revolution Medicines, Inc. $RVMD Shares Acquired by Nicholas Investment Partners LP

Nicholas Investment Partners LP increased its stake in Revolution Medicines, Inc. (NASDAQ:RVMD) by 18.6% in the 4th quarter, HoldingsChannel.com reports. The firm owned 317,711 shares of the company’s stock after buying an additional 49,800 shares during the quarter. Revolution Medicines comprises about 1.8% of Nicholas Investment Partners LP’s holdings, making the stock its 5th biggest position. Nicholas Investment Partners LP’s holdings in Revolution Medicines were worth $25,306,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of the stock. PNC Financial Services Group Inc. lifted its holdings 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 purchasing an additional 125 shares during the period. Deutsche Bank AG lifted its holdings in Revolution Medicines by 0.4% in the 4th quarter. Deutsche Bank AG now owns 32,217 shares of the company’s stock valued at $2,566,000 after acquiring an additional 130 shares during the last quarter. Signaturefd LLC lifted its holdings in Revolution Medicines by 33.1% in the 4th quarter. Signaturefd LLC now owns 656 shares of the company’s stock valued at $52,000 after acquiring an additional 163 shares during the last quarter. Allworth Financial LP lifted its holdings in 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 acquiring an additional 210 shares during the last quarter. Finally, Farther Finance Advisors LLC lifted its holdings in 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 acquiring an additional 232 shares during the last quarter. Institutional investors and hedge funds own 94.34% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Piper Sandler upped their price target on shares of Revolution Medicines to $172.00 and gave the company an “overweight” rating in a report on Thursday, May 7th. Guggenheim upped their price target on shares of Revolution Medicines to $205.00 and gave the company a “buy” rating in a report on Thursday, May 7th. Jefferies Financial Group assumed coverage on shares of Revolution Medicines in a report on Monday, March 16th. They issued a “buy” rating for the company. Stifel Nicolaus reissued a “buy” rating on shares of Revolution Medicines in a report on Monday, April 20th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Revolution Medicines in a report on Tuesday, April 21st. 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 issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $123.72.

Insider Activity at Revolution Medicines

In other news, insider Mark A. Goldsmith sold 120,000 shares of the company’s stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $150.09, for a total value of $18,010,800.00. Following the transaction, the insider owned 276,698 shares in the company, valued at $41,529,602.82. This represents a 30.25% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Xiaolin Wang sold 2,010 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 value of $199,954.80. Following the completion of the transaction, the insider owned 116,063 shares in the company, valued at $11,545,947.24. This represents a 1.70% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 148,592 shares of company stock valued at $20,855,132. Corporate insiders own 7.60% of the company’s stock.

Revolution Medicines Price Performance

RVMD stock opened at $153.87 on Friday. 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, Inc. has a one year low of $34.00 and a one year high of $166.50. The firm has a market capitalization of $32.71 billion, a PE ratio of -21.76 and a beta of 1.40. The firm has a 50-day moving average of $140.76 and a two-hundred day moving average of $110.42.

Revolution Medicines (NASDAQ:RVMD) last posted its quarterly earnings data on Wednesday, May 6th. The company reported ($2.29) EPS for the quarter, missing analysts’ consensus estimates of ($1.83) by ($0.46). During the same quarter in the prior year, the firm earned ($1.13) EPS. On average, analysts forecast that Revolution Medicines, Inc. will post -7.94 earnings per share for the current 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.