Eagle Health Investments LP Buys New Shares in Revolution Medicines, Inc. $RVMD

Eagle Health Investments LP acquired a new position in shares of Revolution Medicines, Inc. (NASDAQ:RVMD) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 115,900 shares of the company’s stock, valued at approximately $9,231,000. Revolution Medicines accounts for about 2.0% of Eagle Health Investments LP’s holdings, making the stock its 17th biggest position.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in Revolution Medicines by 6.7% during the fourth quarter. Vanguard Group Inc. now owns 16,719,886 shares of the company’s stock worth $1,331,739,000 after buying an additional 1,056,792 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its stake in Revolution Medicines by 194.6% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 21,289 shares of the company’s stock worth $1,696,000 after buying an additional 14,062 shares during the period. New York State Common Retirement Fund grew its stake in Revolution Medicines by 39.3% during the third quarter. New York State Common Retirement Fund now owns 119,807 shares of the company’s stock worth $5,595,000 after buying an additional 33,821 shares during the period. Raiffeisen Bank International AG purchased a new stake in Revolution Medicines during the third quarter worth approximately $921,000. Finally, Mass General Brigham Inc purchased a new stake in Revolution Medicines during the fourth quarter worth approximately $27,407,000. 94.34% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have issued reports on RVMD shares. Royal Bank Of Canada boosted their price objective on shares of Revolution Medicines to $165.00 and gave the stock an “outperform” rating in a research note on Thursday, May 7th. Piper Sandler boosted their price objective on shares of Revolution Medicines to $172.00 and gave the stock an “overweight” rating in a research note on Thursday, May 7th. Benchmark reiterated an “overweight” rating on shares of Revolution Medicines in a research note on Tuesday, February 17th. HC Wainwright reiterated a “buy” rating on shares of Revolution Medicines in a research note on Wednesday, April 22nd. Finally, Jefferies Financial Group began coverage on shares of Revolution Medicines in a research note on Monday, March 16th. They issued a “buy” rating for the company. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $108.88.

Revolution Medicines Price Performance

Shares of RVMD stock opened at $150.33 on Thursday. The company has a market capitalization of $31.96 billion, a PE ratio of -21.26 and a beta of 1.41. The firm has a fifty day simple moving average of $121.61 and a 200-day simple moving average of $100.18. 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 twelve month low of $34.00 and a twelve month high of $155.70.

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 the consensus estimate of ($1.83) by ($0.46). During the same quarter last year, the firm posted ($1.13) EPS. Equities research analysts anticipate that Revolution Medicines, Inc. will post -7.75 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Stephen Michael Kelsey sold 4,302 shares of the company’s stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $99.48, for a total value of $427,962.96. Following the completion of the transaction, the insider directly 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 can be accessed through this link. Also, COO Margaret A. Horn sold 4,583 shares of the company’s stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $99.48, for a total transaction of $455,916.84. Following the completion of the transaction, the chief operating officer owned 157,570 shares of the company’s stock, valued at $15,675,063.60. This trade represents a 2.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 184,592 shares of company stock valued at $24,499,532. Corporate insiders own 8.20% of the company’s stock.

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.