QRG Capital Management Inc. Takes Position in Revolution Medicines, Inc. $RVMD

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

Several other large investors also recently made changes to their positions in RVMD. PNC Financial Services Group Inc. raised its stake in Revolution Medicines by 1.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 10,066 shares of the company’s stock worth $802,000 after buying an additional 125 shares during the period. Deutsche Bank AG grew its stake in Revolution Medicines by 0.4% in the fourth quarter. Deutsche Bank AG now owns 32,217 shares of the company’s stock valued at $2,566,000 after acquiring an additional 130 shares during the period. Signaturefd LLC increased its holdings in shares of Revolution Medicines by 33.1% during the fourth quarter. Signaturefd LLC now owns 656 shares of the company’s stock valued at $52,000 after acquiring an additional 163 shares in the last quarter. Allworth Financial LP increased its holdings in shares of Revolution Medicines by 57.2% during the fourth quarter. Allworth Financial LP now owns 577 shares of the company’s stock valued at $46,000 after acquiring an additional 210 shares in the last quarter. Finally, Farther Finance Advisors LLC lifted its holdings in shares of Revolution Medicines by 44.7% in the 4th quarter. Farther Finance Advisors LLC now owns 751 shares of the company’s stock worth $60,000 after purchasing an additional 232 shares in the last quarter. 94.34% of the stock is currently owned by institutional investors and hedge funds.

Revolution Medicines Stock Up 0.7%

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

Revolution Medicines (NASDAQ:RVMD) last issued its quarterly earnings data on Wednesday, May 6th. The company reported ($2.29) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.83) by ($0.46). During the same period last year, the company earned ($1.13) EPS. Research analysts expect that Revolution Medicines, Inc. will post -7.93 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

RVMD has been the subject of several research reports. Mizuho lifted their price target on shares of Revolution Medicines from $185.00 to $215.00 and gave the company an “outperform” rating in a research report on Monday. Wedbush upped their price objective on shares of Revolution Medicines from $165.00 to $181.00 and gave the stock an “outperform” rating in a report on Thursday, July 2nd. Evercore reaffirmed an “outperform” rating on shares of Revolution Medicines in a research note on Tuesday, April 14th. Piper Sandler lifted their price objective on shares of Revolution Medicines to $172.00 and gave the company an “overweight” rating in a report on Thursday, May 7th. Finally, Guggenheim boosted their target price on shares of Revolution Medicines from $205.00 to $235.00 and gave the stock a “buy” rating in a research report on Thursday. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $144.00.

Insider Transactions at Revolution Medicines

In related news, CFO Jack Anders sold 20,000 shares of Revolution Medicines stock in a transaction on Wednesday, June 24th. The stock was sold at an average price of $168.33, for a total transaction of $3,366,600.00. Following the sale, the chief financial officer directly owned 123,269 shares in the company, valued at approximately $20,749,870.77. This trade represents a 13.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Mark A. Goldsmith sold 120,000 shares of the business’s stock in a transaction on Wednesday, April 15th. The stock was sold at an average price of $150.09, for a total value of $18,010,800.00. Following the completion of the transaction, the insider directly owned 276,698 shares in the company, valued at approximately $41,529,602.82. This represents a 30.25% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 252,497 shares of company stock worth $39,481,286. 7.60% of the stock is owned by insiders.

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.