Osmosis Investment Management UK Ltd Takes Position in Revolution Medicines, Inc. $RVMD

Osmosis Investment Management UK Ltd purchased a new position in Revolution Medicines, Inc. (NASDAQ:RVMD) in the 2nd quarter, HoldingsChannel reports. The institutional investor purchased 3,447 shares of the company’s stock, valued at approximately $646,000.

A number of other hedge funds have also recently made changes to their positions in RVMD. Sanctuary Advisors LLC purchased a new stake in shares of Revolution Medicines during the 2nd quarter worth $1,224,000. Bank of Nova Scotia bought a new position in Revolution Medicines in the second quarter worth about $13,836,000. Daiichi Life Insurance Co. Ltd. bought a new position in Revolution Medicines in the second quarter worth about $1,034,000. Commerce Bank purchased a new stake in shares of Revolution Medicines during the second quarter valued at about $270,000. Finally, Northwestern Mutual Wealth Management Co. purchased a new stake in shares of Revolution Medicines during the second quarter valued at about $41,000. 94.34% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Sanford C. Bernstein raised their price target on shares of Revolution Medicines from $151.00 to $179.00 and gave the company a “market perform” rating in a report on Friday. HC Wainwright reiterated a “buy” rating and set a $195.00 price objective on shares of Revolution Medicines in a research note on Monday, July 6th. Wedbush increased their target price on shares of Revolution Medicines from $192.10 to $201.00 and gave the company an “outperform” rating in a research report on Thursday, August 6th. Needham & Company LLC raised their target price on shares of Revolution Medicines from $236.00 to $240.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Finally, Wolfe Research reaffirmed an “outperform” rating and issued a $220.00 price target on shares of Revolution Medicines in a report on Monday, August 10th. Two analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Revolution Medicines has an average rating of “Moderate Buy” and a consensus price target of $167.89.

Insider Buying and Selling

In other Revolution Medicines news, Director Sushil Patel sold 5,580 shares of the business’s stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $187.99, for a total transaction of $1,048,984.20. Following the sale, the director owned 21,656 shares in the company, valued at approximately $4,071,111.44. The trade was a 20.49% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Margaret A. Horn sold 60,400 shares of the stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $160.17, for a total value of $9,674,268.00. Following the completion of the transaction, the chief operating officer directly owned 158,222 shares in the company, valued at $25,342,417.74. This represents a 27.63% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 212,497 shares of company stock worth $38,206,486 over the last three months. Corporate insiders own 7.60% of the company’s stock.

Revolution Medicines Trading Down 0.1%

NASDAQ RVMD opened at $211.38 on Wednesday. The company has a fifty day simple moving average of $190.11 and a two-hundred day simple moving average of $146.46. The stock has a market cap of $45.31 billion, a P/E ratio of -23.97 and a beta of 1.39. Revolution Medicines, Inc. has a 12-month low of $35.62 and a 12-month high of $220.34. The company has a current ratio of 11.38, a quick ratio of 11.38 and a debt-to-equity ratio of 0.40.

Revolution Medicines (NASDAQ:RVMD) last posted its quarterly earnings data on Wednesday, August 5th. The company reported ($3.06) EPS for the quarter, missing the consensus estimate of ($2.04) by ($1.02). During the same period last year, the business posted ($1.31) EPS. On average, analysts forecast that Revolution Medicines, Inc. will post -8.82 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.