5,115 Shares in Revolution Medicines, Inc. $RVMD Bought by Park Avenue Institutional Advisers LLC

Park Avenue Institutional Advisers LLC purchased a new position in shares of Revolution Medicines, Inc. (NASDAQ:RVMD) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 5,115 shares of the company’s stock, valued at approximately $407,000. Revolution Medicines accounts for about 40.5% of Park Avenue Institutional Advisers LLC’s investment portfolio, making the stock its largest holding.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in RVMD. General Atlantic L.P. acquired a new stake in Revolution Medicines during the 3rd quarter worth about $115,556,000. Norges Bank acquired a new stake in Revolution Medicines during the 4th quarter worth about $195,568,000. UBS Group AG grew its position in Revolution Medicines by 183.6% during the 4th quarter. UBS Group AG now owns 3,087,937 shares of the company’s stock worth $245,954,000 after purchasing an additional 1,998,972 shares during the period. Nextech Invest Ltd. grew its position in Revolution Medicines by 20.7% during the 4th quarter. Nextech Invest Ltd. now owns 7,601,087 shares of the company’s stock worth $332,472,000 after purchasing an additional 1,304,347 shares during the period. Finally, Vestal Point Capital LP acquired a new stake in Revolution Medicines during the 2nd quarter worth about $44,148,000. 94.34% of the stock is owned by institutional investors and hedge funds.

Revolution Medicines Price Performance

NASDAQ:RVMD opened at $151.31 on Wednesday. Revolution Medicines, Inc. has a 52 week low of $34.00 and a 52 week high of $166.50. The company has a quick ratio of 6.80, a current ratio of 6.80 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $32.17 billion, a PE ratio of -21.40 and a beta of 1.40. The stock’s 50-day moving average price is $130.74 and its 200-day moving average price is $105.50.

Revolution Medicines (NASDAQ:RVMD) last posted its earnings results 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 previous year, the business posted ($1.13) earnings per share. As a group, equities analysts expect that Revolution Medicines, Inc. will post -7.75 EPS for the current fiscal year.

Insider Activity

In other news, insider Mark A. Goldsmith sold 120,000 shares of the firm’s stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $150.09, for a total transaction of $18,010,800.00. Following the sale, the insider directly owned 276,698 shares in the company, valued at $41,529,602.82. This trade represents a 30.25% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Xiaolin Wang sold 2,010 shares of the firm’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 sale, the insider owned 116,063 shares in the company, valued at $11,545,947.24. This trade represents a 1.70% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 148,592 shares of company stock worth $20,855,132. 7.60% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have weighed in on RVMD. Stifel Nicolaus reaffirmed a “buy” rating on shares of Revolution Medicines in a research report on Monday, April 20th. Guggenheim increased their price target on Revolution Medicines to $205.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Truist Financial began coverage on Revolution Medicines in a research report on Monday, May 18th. They set a “buy” rating and a $179.00 price target on the stock. Oppenheimer increased their price target on Revolution Medicines from $165.00 to $195.00 and gave the stock an “outperform” rating in a research report on Monday. Finally, UBS Group began coverage on Revolution Medicines in a research report on Friday, February 27th. They set a “buy” rating on the stock. Three equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $123.72.

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.