Financiere des Professionnels Fonds d investissement inc. Invests $1.02 Million in Revolution Medicines, Inc. $RVMD

Financiere des Professionnels Fonds d investissement inc. purchased a new position in shares of Revolution Medicines, Inc. (NASDAQ:RVMD) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 10,506 shares of the company’s stock, valued at approximately $1,022,000.

Other institutional investors have also added to or reduced their stakes in the company. Global Retirement Partners LLC increased its position in Revolution Medicines by 1,002.8% during the 4th quarter. Global Retirement Partners LLC now owns 397 shares of the company’s stock worth $32,000 after buying an additional 361 shares during the period. Indiana Trust & Investment Management Co acquired a new stake in shares of Revolution Medicines during the fourth quarter worth $32,000. Torren Management LLC bought a new stake in shares of Revolution Medicines in the fourth quarter valued at about $33,000. Arax Advisory Partners bought a new stake in shares of Revolution Medicines in the fourth quarter valued at about $38,000. Finally, Darwin Wealth Management LLC bought a new stake in shares of Revolution Medicines in the fourth quarter valued at about $40,000. 94.34% of the stock is currently owned by institutional investors.

Revolution Medicines Stock Performance

NASDAQ:RVMD opened at $186.16 on Friday. The stock has a fifty day moving average price of $165.07 and a 200-day moving average price of $128.05. The company has a market cap of $39.58 billion, a price-to-earnings ratio of -26.33 and a beta of 1.37. The company has a debt-to-equity ratio of 0.19, a quick ratio of 6.80 and a current ratio of 6.80. Revolution Medicines, Inc. has a fifty-two week low of $34.00 and a fifty-two week high of $193.82.

Revolution Medicines (NASDAQ:RVMD) last released its earnings results on Wednesday, May 6th. The company reported ($2.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.83) by ($0.46). During the same period in the prior year, the business earned ($1.13) earnings per share. As a group, equities analysts anticipate that Revolution Medicines, Inc. will post -7.92 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Wedbush raised their price target on shares of Revolution Medicines from $165.00 to $181.00 and gave the stock an “outperform” rating in a research report on Thursday, July 2nd. Needham & Company LLC lifted their price objective on shares of Revolution Medicines from $183.00 to $235.00 and gave the stock a “buy” rating in a research note on Monday, June 29th. Evercore reissued an “outperform” rating on shares of Revolution Medicines in a report on Tuesday, April 14th. Sanford C. Bernstein assumed coverage on shares of Revolution Medicines in a research report on Thursday, May 21st. They set a “market perform” rating and a $151.00 target price on the stock. Finally, Truist Financial raised their target price on shares of Revolution Medicines from $179.00 to $210.00 and gave the stock a “buy” rating in a report on Tuesday, June 30th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Revolution Medicines currently has an average rating of “Moderate Buy” and a consensus target price of $144.00.

Insider Buying and Selling at Revolution Medicines

In other Revolution Medicines news, Director Sushil Patel sold 5,580 shares of the stock in a transaction dated 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 in the company, valued at $4,071,111.44. This represents a 20.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Margaret A. Horn sold 29,600 shares of the stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $160.12, for a total transaction of $4,739,552.00. Following the sale, the chief operating officer owned 154,647 shares in the company, valued at $24,762,077.64. The trade was a 16.07% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 132,497 shares of company stock valued at $21,470,486 over the last three months. 7.60% of the stock is owned by insiders.

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.