Avoro Capital Advisors LLC Makes New Investment in Revolution Medicines, Inc. $RVMD

Avoro Capital Advisors LLC purchased a new position in Revolution Medicines, Inc. (NASDAQ:RVMD) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 2,170,000 shares of the company’s stock, valued at approximately $172,840,000. Revolution Medicines comprises about 1.7% of Avoro Capital Advisors LLC’s portfolio, making the stock its 17th largest position. Avoro Capital Advisors LLC owned 1.12% of Revolution Medicines at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Royal Bank of Canada grew its holdings in Revolution Medicines by 161.9% in the 4th quarter. Royal Bank of Canada now owns 503,721 shares of the company’s stock worth $40,121,000 after acquiring an additional 311,392 shares during the last quarter. Persistent Asset Partners Ltd grew its holdings in Revolution Medicines by 28.7% in the 4th quarter. Persistent Asset Partners Ltd now owns 17,537 shares of the company’s stock worth $1,397,000 after acquiring an additional 3,910 shares during the last quarter. Polar Capital Holdings Plc grew its holdings in Revolution Medicines by 321.2% in the 4th quarter. Polar Capital Holdings Plc now owns 2,013,791 shares of the company’s stock worth $160,398,000 after acquiring an additional 1,535,686 shares during the last quarter. Temasek Holdings Private Ltd bought a new stake in Revolution Medicines in the 4th quarter worth $251,000. Finally, Squarepoint Ops LLC grew its holdings in Revolution Medicines by 127.7% in the 4th quarter. Squarepoint Ops LLC now owns 23,635 shares of the company’s stock worth $1,883,000 after acquiring an additional 13,256 shares during the last quarter. Institutional investors own 94.34% of the company’s stock.

Insider Buying and Selling

In related news, insider Mark A. Goldsmith sold 120,000 shares of the business’s stock in a transaction dated Wednesday, April 15th. The shares were 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 of the company’s stock, valued at $41,529,602.82. The trade was a 30.25% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 7.60% of the stock is owned by insiders.

Revolution Medicines Trading Down 2.2%

Shares of RVMD opened at $156.58 on Wednesday. The firm’s 50-day moving average price is $143.13 and its 200-day moving average price is $111.82. The firm has a market capitalization of $33.29 billion, a price-to-earnings ratio of -22.15 and a beta of 1.40. 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 1-year low of $34.00 and a 1-year high of $166.50.

Revolution Medicines (NASDAQ:RVMD) last announced its earnings results on Wednesday, May 6th. The company reported ($2.29) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.83) by ($0.46). During the same quarter in the previous year, the company earned ($1.13) EPS. Sell-side analysts anticipate that Revolution Medicines, Inc. will post -7.94 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Benchmark reissued an “overweight” rating on shares of Revolution Medicines in a report on Tuesday, February 17th. UBS Group assumed coverage on shares of Revolution Medicines in a report on Friday, February 27th. They issued a “buy” rating on the stock. Guggenheim lifted their target price on shares of Revolution Medicines to $205.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Evercore reaffirmed an “outperform” rating on shares of Revolution Medicines in a research note on Tuesday, April 14th. Finally, HC Wainwright lifted their target price on shares of Revolution Medicines from $169.00 to $195.00 and gave the company a “buy” rating in a research note on Monday, June 1st. Three investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $123.72.

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.