QRG Capital Management Inc. Buys Shares of 6,140 Revolution Medicines, Inc. $RVMD

QRG Capital Management Inc. bought a new stake in shares of Revolution Medicines, Inc. (NASDAQ:RVMD) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 6,140 shares of the company’s stock, valued at approximately $597,000.

Other large investors also recently modified their holdings of the company. Indiana Trust & Investment Management Co bought a new stake in shares of Revolution Medicines in the 4th quarter worth approximately $32,000. Global Retirement Partners LLC lifted its stake in Revolution Medicines by 1,002.8% in 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 during the last quarter. Torren Management LLC bought a new position in Revolution Medicines during the fourth quarter valued at $33,000. Arax Advisory Partners bought a new position in Revolution Medicines during the fourth quarter valued at $38,000. Finally, Darwin Wealth Management LLC purchased a new stake in Revolution Medicines in the fourth quarter worth $40,000. Hedge funds and other institutional investors own 94.34% of the company’s stock.

Revolution Medicines Stock Performance

Shares of RVMD opened at $191.13 on Friday. Revolution Medicines, Inc. has a 52-week low of $34.00 and a 52-week high of $193.83. The stock’s 50-day simple moving average is $160.31 and its 200 day simple moving average is $124.03. The company has a debt-to-equity ratio of 0.19, a quick ratio of 6.80 and a current ratio of 6.80. The stock has a market capitalization of $40.63 billion, a price-to-earnings ratio of -27.03 and a beta of 1.37.

Revolution Medicines (NASDAQ:RVMD) last posted 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 last year, the firm earned ($1.13) earnings per share. Research analysts forecast that Revolution Medicines, Inc. will post -7.93 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Jack Anders sold 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 24th. The shares were sold at an average price of $168.33, for a total transaction of $3,366,600.00. Following the completion of the transaction, the chief financial officer owned 123,269 shares of the company’s stock, valued at approximately $20,749,870.77. The trade was a 13.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Margaret A. Horn sold 60,400 shares of the company’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $160.17, for a total transaction of $9,674,268.00. Following the sale, the chief operating officer directly owned 158,222 shares in the company, valued at $25,342,417.74. This trade represents a 27.63% decrease in their position. 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 sold 252,497 shares of company stock valued at $39,481,286 in the last three months. Insiders own 7.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on RVMD. Sanford C. Bernstein initiated coverage on Revolution Medicines in a research note on Thursday, May 21st. They issued a “market perform” rating and a $151.00 target price on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Revolution Medicines in a report on Tuesday, April 21st. HC Wainwright restated a “buy” rating and issued a $195.00 price objective on shares of Revolution Medicines in a research note on Monday. Stifel Nicolaus restated a “buy” rating on shares of Revolution Medicines in a research note on Monday, April 20th. Finally, Wedbush upped their price objective on shares of Revolution Medicines from $165.00 to $181.00 and gave the company an “outperform” rating in a report on Thursday, July 2nd. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $144.00.

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.