Verition Fund Management LLC Grows Stock Holdings in Revolution Medicines, Inc. $RVMD

Verition Fund Management LLC grew its holdings in Revolution Medicines, Inc. (NASDAQ:RVMD) by 39.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 189,333 shares of the company’s stock after purchasing an additional 53,884 shares during the quarter. Verition Fund Management LLC owned about 0.10% of Revolution Medicines worth $15,080,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of RVMD. Indiana Trust & Investment Management Co purchased a new position in 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 4th quarter. Global Retirement Partners LLC now owns 397 shares of the company’s stock worth $32,000 after purchasing an additional 361 shares in the last quarter. Torren Management LLC purchased a new position in Revolution Medicines in the 4th quarter worth approximately $33,000. Arax Advisory Partners purchased a new position in Revolution Medicines in the 4th quarter worth approximately $38,000. Finally, Darwin Wealth Management LLC purchased a new position in Revolution Medicines in the 4th quarter worth approximately $40,000. 94.34% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, insider Mark A. Goldsmith sold 120,000 shares of Revolution Medicines stock in a transaction that occurred on Wednesday, April 15th. The shares were sold at an average price of $150.09, for a total value of $18,010,800.00. Following the completion of the sale, the insider owned 276,698 shares in the company, valued at approximately $41,529,602.82. This trade represents a 30.25% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 7.60% of the company’s stock.

Revolution Medicines Stock Up 4.0%

RVMD stock opened at $160.06 on Tuesday. The firm has a market cap of $34.03 billion, a PE ratio of -22.64 and a beta of 1.40. 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 firm’s 50 day moving average price is $141.98 and its 200-day moving average price is $111.27. Revolution Medicines, Inc. has a one year low of $34.00 and a one year high of $166.50.

Revolution Medicines (NASDAQ:RVMD) last released its quarterly earnings results on Wednesday, May 6th. The company reported ($2.29) EPS for the quarter, missing the consensus estimate of ($1.83) by ($0.46). During the same quarter in the previous year, the firm earned ($1.13) EPS. On average, equities research analysts anticipate that Revolution Medicines, Inc. will post -7.94 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on RVMD. Jefferies Financial Group began coverage on shares of Revolution Medicines in a research note on Monday, March 16th. They issued a “buy” rating on the stock. Guggenheim lifted their price target on shares of Revolution Medicines to $205.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Revolution Medicines in a research report on Tuesday, April 21st. Piper Sandler lifted their price target on shares of Revolution Medicines to $172.00 and gave the company an “overweight” rating in a research report on Thursday, May 7th. Finally, Sanford C. Bernstein started coverage on shares of Revolution Medicines in a research report on Thursday, May 21st. They set a “market perform” rating and a $151.00 price target on the stock. Three investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Revolution Medicines presently has a consensus rating of “Buy” and a consensus target price of $123.72.

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.