GABELLI & Co INVESTMENT ADVISERS INC. Takes $1.30 Million Position in Revolution Medicines, Inc. $RVMD

GABELLI & Co INVESTMENT ADVISERS INC. purchased a new stake in shares of Revolution Medicines, Inc. (NASDAQ:RVMD) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 13,400 shares of the company’s stock, valued at approximately $1,303,000.

A number of other institutional investors also recently bought and sold shares of RVMD. Indiana Trust & Investment Management Co purchased a new position in Revolution Medicines during the fourth quarter worth $32,000. Global Retirement Partners LLC raised its stake in shares of 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 acquiring an additional 361 shares during the period. Torren Management LLC purchased a new stake in shares of Revolution Medicines in the fourth quarter valued at $33,000. Arax Advisory Partners bought a new stake in shares of Revolution Medicines in the 4th quarter worth about $38,000. Finally, Darwin Wealth Management LLC bought a new stake in shares of Revolution Medicines in the 4th quarter worth about $40,000. 94.34% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Wedbush lifted their price target on shares of Revolution Medicines from $181.00 to $192.10 and gave the stock an “outperform” rating in a research note on Thursday. Mizuho increased their price objective on shares of Revolution Medicines from $185.00 to $215.00 and gave the stock an “outperform” rating in a research report on Monday, July 6th. Piper Sandler raised their price objective on shares of Revolution Medicines to $172.00 and gave the stock an “overweight” rating in a research note on Thursday, May 7th. Oppenheimer boosted their target price on Revolution Medicines from $165.00 to $195.00 and gave the company an “outperform” rating in a research report on Monday, June 1st. Finally, Sanford C. Bernstein initiated coverage on Revolution Medicines in a research note on Thursday, May 21st. They set a “market perform” rating and a $151.00 target price on the stock. Two investment 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 issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $144.67.

Insider Activity at Revolution Medicines

In other news, insider Mark A. Goldsmith sold 10,020 shares of the firm’s stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $156.12, for a total transaction of $1,564,322.40. Following the transaction, the insider directly owned 267,330 shares of the company’s stock, valued at approximately $41,735,559.60. This trade represents a 3.61% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Sushil Patel sold 5,580 shares of Revolution Medicines stock in a transaction that occurred on 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 of the company’s stock, valued at $4,071,111.44. This represents a 20.49% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 132,497 shares of company stock worth $21,470,486 over the last ninety days. 7.60% of the stock is currently owned by company insiders.

Revolution Medicines Stock Up 0.3%

NASDAQ:RVMD opened at $189.23 on Friday. The company has a market cap of $40.23 billion, a price-to-earnings ratio of -26.77 and a beta of 1.37. Revolution Medicines, Inc. has a twelve month low of $34.00 and a twelve month high of $193.82. The company has a current ratio of 6.80, a quick ratio of 6.80 and a debt-to-equity ratio of 0.19. The stock has a fifty day simple moving average of $168.87 and a 200-day simple moving average of $131.73.

Revolution Medicines (NASDAQ:RVMD) last posted its quarterly earnings results on Wednesday, May 6th. The company reported ($2.29) EPS for the quarter, missing analysts’ consensus estimates of ($1.83) by ($0.46). During the same period in the previous year, the company posted ($1.13) EPS. Analysts anticipate that Revolution Medicines, Inc. will post -7.9 EPS for the current 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.