AlphaQuest LLC Acquires 9,916 Shares of Revolution Medicines, Inc. $RVMD

AlphaQuest LLC lifted its stake in shares of Revolution Medicines, Inc. (NASDAQ:RVMD) by 496.5% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 11,913 shares of the company’s stock after buying an additional 9,916 shares during the quarter. AlphaQuest LLC’s holdings in Revolution Medicines were worth $556,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of RVMD. CWM LLC boosted its stake in Revolution Medicines by 171.3% during the second quarter. CWM LLC now owns 917 shares of the company’s stock worth $34,000 after acquiring an additional 579 shares in the last quarter. GAMMA Investing LLC increased its stake in Revolution Medicines by 45.1% in the third quarter. GAMMA Investing LLC now owns 837 shares of the company’s stock valued at $39,000 after purchasing an additional 260 shares in the last quarter. a16z Perennial Management L.P. acquired a new position in shares of Revolution Medicines during the second quarter valued at about $67,000. Caitong International Asset Management Co. Ltd boosted its position in shares of Revolution Medicines by 338,500.0% during the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 3,386 shares of the company’s stock worth $125,000 after purchasing an additional 3,385 shares in the last quarter. Finally, Osaic Holdings Inc. boosted its position in shares of Revolution Medicines by 41.7% during the 2nd quarter. Osaic Holdings Inc. now owns 3,487 shares of the company’s stock worth $128,000 after purchasing an additional 1,027 shares in the last quarter. Institutional investors own 94.34% of the company’s stock.

Insiders Place Their Bets

In other Revolution Medicines news, insider Stephen Michael Kelsey sold 5,447 shares of the company’s stock in a transaction on Tuesday, December 16th. The stock was sold at an average price of $76.82, for a total value of $418,438.54. Following the completion of the transaction, the insider owned 278,600 shares in the company, valued at $21,402,052. This represents a 1.92% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Jack Anders sold 10,000 shares of the business’s stock in a transaction dated Wednesday, January 7th. The stock was sold at an average price of $98.00, for a total transaction of $980,000.00. Following the completion of the transaction, the chief financial officer directly owned 108,065 shares in the company, valued at $10,590,370. This trade represents a 8.47% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 243,792 shares of company stock worth $19,757,740 in the last ninety days. Company insiders own 8.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. UBS Group raised Revolution Medicines to a “strong-buy” rating in a research note on Thursday, December 4th. Stifel Nicolaus assumed coverage on Revolution Medicines in a research report on Wednesday, October 15th. They set a “buy” rating and a $85.00 target price on the stock. Royal Bank Of Canada began coverage on Revolution Medicines in a report on Monday, November 3rd. They issued an “outperform” rating and a $77.00 target price on the stock. Wedbush restated an “outperform” rating on shares of Revolution Medicines in a research note on Friday, January 9th. Finally, Mizuho started coverage on shares of Revolution Medicines in a report on Tuesday, October 21st. They set an “outperform” rating and a $90.00 price objective on the stock. Four analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $78.94.

Revolution Medicines Stock Up 0.6%

RVMD opened at $96.51 on Thursday. Revolution Medicines, Inc. has a fifty-two week low of $29.17 and a fifty-two week high of $124.49. The firm has a market capitalization of $18.66 billion, a P/E ratio of -18.67 and a beta of 1.01. The company’s 50-day moving average is $91.74 and its 200 day moving average is $63.13. The company has a debt-to-equity ratio of 0.16, a current ratio of 8.05 and a quick ratio of 8.05.

Revolution Medicines (NASDAQ:RVMD) last posted its quarterly earnings data on Wednesday, November 5th. The company reported ($1.61) EPS for the quarter, missing the consensus estimate of ($1.39) by ($0.22). During the same quarter in the previous year, the firm posted ($0.94) EPS. Research analysts expect that Revolution Medicines, Inc. will post -3.49 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.