Walleye Capital LLC Acquires New Holdings in Revolution Medicines, Inc. $RVMD

Walleye Capital LLC bought a new position in shares of Revolution Medicines, Inc. (NASDAQ:RVMD) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 31,602 shares of the company’s stock, valued at approximately $3,073,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Meeder Advisory Services Inc. grew its position in shares of Revolution Medicines by 3.0% during the 1st quarter. Meeder Advisory Services Inc. now owns 4,126 shares of the company’s stock valued at $401,000 after purchasing an additional 120 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of Revolution Medicines by 1.3% in the fourth quarter. PNC Financial Services Group Inc. now owns 10,066 shares of the company’s stock worth $802,000 after purchasing an additional 125 shares during the period. Deutsche Bank AG raised its position in shares of Revolution Medicines by 0.4% in the fourth quarter. Deutsche Bank AG now owns 32,217 shares of the company’s stock worth $2,566,000 after buying an additional 130 shares in the last quarter. Signaturefd LLC raised its position in shares of Revolution Medicines by 33.1% in the fourth quarter. Signaturefd LLC now owns 656 shares of the company’s stock worth $52,000 after buying an additional 163 shares in the last quarter. Finally, Allworth Financial LP raised its position in shares of Revolution Medicines by 57.2% in the fourth quarter. Allworth Financial LP now owns 577 shares of the company’s stock worth $46,000 after buying an additional 210 shares in the last quarter. 94.34% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Mark A. Goldsmith sold 10,020 shares of the company’s stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $156.12, for a total value of $1,564,322.40. Following the completion of the sale, the insider owned 267,330 shares of the company’s stock, valued at approximately $41,735,559.60. This represents a 3.61% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Stephen Michael Kelsey sold 4,175 shares of the stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $156.12, for a total transaction of $651,801.00. Following the transaction, the insider directly owned 291,876 shares in the company, valued at approximately $45,567,681.12. This represents a 1.41% 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 have sold 132,497 shares of company stock valued at $21,470,486 over the last 90 days. Company insiders own 7.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Oppenheimer boosted their target price on Revolution Medicines from $165.00 to $195.00 and gave the stock an “outperform” rating in a research report on Monday, June 1st. Truist Financial raised their price target on Revolution Medicines from $179.00 to $210.00 and gave the company a “buy” rating in a report on Tuesday, June 30th. HC Wainwright reiterated a “buy” rating and set a $195.00 price target on shares of Revolution Medicines in a research report on Monday, July 6th. Piper Sandler boosted their price objective on Revolution Medicines to $172.00 and gave the stock an “overweight” rating in a 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 issued a “market perform” rating and a $151.00 price objective on the stock. Two 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 assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $144.67.

Revolution Medicines Stock Up 3.1%

RVMD opened at $188.75 on Friday. The business’s fifty day simple moving average is $168.00 and its 200 day simple moving average is $131.32. Revolution Medicines, Inc. has a 52 week low of $34.00 and a 52 week high of $193.82. 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 cap of $40.13 billion, a PE ratio of -26.70 and a beta of 1.37.

Revolution Medicines (NASDAQ:RVMD) last issued its quarterly 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 previous year, the company earned ($1.13) earnings per share. As a group, research analysts expect that Revolution Medicines, Inc. will post -7.9 earnings per share for the current fiscal year.

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.