Eagle Health Investments LP Invests $22.54 Million in Revolution Medicines, Inc. $RVMD

Eagle Health Investments LP purchased a new stake in shares of Revolution Medicines, Inc. (NASDAQ:RVMD) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 120,346 shares of the company’s stock, valued at approximately $22,538,000. Revolution Medicines comprises approximately 3.7% of Eagle Health Investments LP’s holdings, making the stock its 12th biggest position.

A number of other hedge funds also recently added to or reduced their stakes in the company. Contravisory Investment Management Inc. bought a new stake in shares of Revolution Medicines in the 2nd quarter worth $32,000. Harbor Investment Advisory LLC bought a new position in shares of Revolution Medicines during the second quarter valued at $70,000. Global Retirement Partners LLC lifted its holdings in shares of 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 purchasing an additional 361 shares in the last quarter. Torren Management LLC purchased a new stake in shares of Revolution Medicines during the fourth quarter valued at $33,000. Finally, Arax Advisory Partners purchased a new stake in shares of Revolution Medicines during the fourth quarter valued at $38,000. 94.34% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Stephen Michael Kelsey sold 4,175 shares of the business’s stock in a transaction that occurred 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 sale, the insider directly owned 291,876 shares in the company, valued at approximately $45,567,681.12. The trade was a 1.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Sushil Patel sold 5,580 shares of the company’s stock in a transaction that occurred 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 approximately $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. Over the last ninety days, insiders have sold 132,497 shares of company stock worth $21,470,486. Company insiders own 7.60% of the company’s stock.

Revolution Medicines Stock Down 0.6%

Revolution Medicines stock opened at $214.66 on Thursday. The stock has a market cap of $46.01 billion, a PE ratio of -24.34 and a beta of 1.39. The company has a debt-to-equity ratio of 0.40, a quick ratio of 11.38 and a current ratio of 11.38. Revolution Medicines, Inc. has a one year low of $35.42 and a one year high of $220.34. The stock has a fifty day moving average of $185.62 and a 200 day moving average of $143.24.

Revolution Medicines (NASDAQ:RVMD) last posted its earnings results on Wednesday, August 5th. The company reported ($3.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($2.04) by ($1.02). During the same quarter in the prior year, the company earned ($1.31) earnings per share. As a group, sell-side analysts predict that Revolution Medicines, Inc. will post -8.82 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Revolution Medicines in a research report on Friday, July 17th. Evercore reaffirmed an “outperform” rating and set a $230.00 price target on shares of Revolution Medicines in a report on Thursday, August 6th. Mizuho lifted their price target on shares of Revolution Medicines from $185.00 to $215.00 and gave the stock an “outperform” rating in a research note on Monday, July 6th. Needham & Company LLC boosted their price objective on shares of Revolution Medicines from $236.00 to $240.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Finally, Wolfe Research restated an “outperform” rating and set a $220.00 price objective on shares of Revolution Medicines in a research report on Monday, August 10th. One analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, one has given 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 “Moderate Buy” and a consensus target price of $166.33.

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.