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

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

A number of other hedge funds and other institutional investors have also modified their holdings of RVMD. Nextech Invest Ltd. boosted its position in Revolution Medicines by 20.7% during the fourth quarter. Nextech Invest Ltd. now owns 7,601,087 shares of the company’s stock valued at $332,472,000 after purchasing an additional 1,304,347 shares during the last quarter. Millennium Management LLC increased its position in shares of Revolution Medicines by 681.8% during the 1st quarter. Millennium Management LLC now owns 156,353 shares of the company’s stock worth $5,529,000 after purchasing an additional 136,353 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Revolution Medicines by 14.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 300,196 shares of the company’s stock worth $10,615,000 after purchasing an additional 37,345 shares in the last quarter. Invesco Ltd. raised its stake in shares of Revolution Medicines by 19.3% during the 2nd quarter. Invesco Ltd. now owns 227,019 shares of the company’s stock worth $8,352,000 after purchasing an additional 36,760 shares in the last quarter. Finally, Jump Financial LLC boosted its holdings in shares of Revolution Medicines by 87.9% in the 2nd quarter. Jump Financial LLC now owns 15,258 shares of the company’s stock valued at $561,000 after buying an additional 7,137 shares during the last quarter. Institutional investors and hedge funds own 94.34% of the company’s stock.

Revolution Medicines Stock Performance

Shares of NASDAQ RVMD opened at $186.16 on Friday. The company has a current ratio of 6.80, a quick ratio of 6.80 and a debt-to-equity ratio of 0.19. Revolution Medicines, Inc. has a 12 month low of $34.00 and a 12 month high of $193.82. The stock has a 50 day moving average of $165.07 and a 200-day moving average of $128.05. The company has a market capitalization of $39.58 billion, a P/E ratio of -26.33 and a beta of 1.37.

Revolution Medicines (NASDAQ:RVMD) last posted its quarterly earnings results on Wednesday, May 6th. The company reported ($2.29) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.83) by ($0.46). During the same quarter last year, the company posted ($1.13) earnings per share. As a group, equities research analysts predict that Revolution Medicines, Inc. will post -7.92 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Truist Financial raised their target price on shares of Revolution Medicines from $179.00 to $210.00 and gave the company a “buy” rating in a research note on Tuesday, June 30th. Needham & Company LLC upped their price target on shares of Revolution Medicines from $183.00 to $235.00 and gave the stock a “buy” rating in a research report on Monday, June 29th. Royal Bank Of Canada increased their price target on shares of Revolution Medicines from $165.00 to $182.00 and gave the company an “outperform” rating in a research note on Tuesday, June 2nd. Mizuho lifted their price objective on shares of Revolution Medicines from $185.00 to $215.00 and gave the company an “outperform” rating in a research report on Monday, July 6th. Finally, HC Wainwright restated a “buy” rating and set a $195.00 price objective on shares of Revolution Medicines in a research note on Monday, July 6th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from 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 other news, insider Mark A. Goldsmith sold 10,020 shares of the firm’s stock in a transaction dated 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 completion of the sale, the insider owned 267,330 shares in the company, valued at approximately $41,735,559.60. This trade represents a 3.61% decrease in their position. The transaction was disclosed in a 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, COO Margaret A. Horn sold 60,400 shares of Revolution Medicines stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $160.17, for a total transaction of $9,674,268.00. Following the sale, the chief operating officer directly owned 158,222 shares of the company’s stock, valued at $25,342,417.74. The trade was a 27.63% decrease in their position. 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. Over the last 90 days, insiders sold 132,497 shares of company stock valued at $21,470,486. Corporate insiders own 7.60% of the company’s stock.

About Revolution Medicines

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.