Perceptive Advisors LLC Makes New $25.15 Million Investment in Revolution Medicines, Inc. $RVMD

Perceptive Advisors LLC acquired a new position in shares of Revolution Medicines, Inc. (NASDAQ:RVMD) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 258,600 shares of the company’s stock, valued at approximately $25,149,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. lifted its position in Revolution Medicines by 6.7% in the fourth quarter. Vanguard Group Inc. now owns 16,719,886 shares of the company’s stock worth $1,331,739,000 after purchasing an additional 1,056,792 shares during the period. Janus Henderson Group PLC increased its holdings in Revolution Medicines by 8.3% in the 4th quarter. Janus Henderson Group PLC now owns 12,303,502 shares of the company’s stock valued at $980,036,000 after buying an additional 947,448 shares during the period. Nextech Invest Ltd. increased its holdings in Revolution Medicines by 20.7% in the 4th quarter. Nextech Invest Ltd. now owns 7,601,087 shares of the company’s stock valued at $332,472,000 after buying an additional 1,304,347 shares during the period. Paradigm Biocapital Advisors LP raised its stake in shares of Revolution Medicines by 6.8% in the 4th quarter. Paradigm Biocapital Advisors LP now owns 6,644,403 shares of the company’s stock valued at $529,227,000 after buying an additional 421,112 shares in the last quarter. Finally, Bellevue Group AG raised its stake in shares of Revolution Medicines by 21.7% in the 3rd quarter. Bellevue Group AG now owns 5,573,838 shares of the company’s stock valued at $260,298,000 after buying an additional 994,538 shares in the last quarter. 94.34% of the stock is currently owned by institutional investors.

Revolution Medicines Stock Down 2.4%

Shares of NASDAQ RVMD opened at $187.53 on Friday. The stock has a market cap of $39.87 billion, a PE ratio of -26.52 and a beta of 1.37. The business has a fifty day moving average of $172.57 and a two-hundred day moving average of $134.85. Revolution Medicines, Inc. has a 52-week low of $34.00 and a 52-week high of $194.56. The company has a debt-to-equity ratio of 0.19, a quick ratio of 6.80 and a current ratio of 6.80.

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

Insider Activity

In other Revolution Medicines news, COO Margaret A. Horn sold 60,400 shares of the business’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $160.17, for a total value of $9,674,268.00. Following the transaction, the chief operating officer directly owned 158,222 shares in the company, valued at $25,342,417.74. The trade was a 27.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Mark A. Goldsmith sold 10,020 shares of the company’s stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $156.12, for a total transaction of $1,564,322.40. Following the sale, the insider directly owned 267,330 shares in the company, valued at $41,735,559.60. This represents a 3.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 132,497 shares of company stock worth $21,470,486 over the last ninety days. Corporate insiders own 7.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Evercore reiterated an “outperform” rating on shares of Revolution Medicines in a research report on Tuesday, April 14th. Oppenheimer increased their price target on shares of 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 shares of Revolution Medicines from $179.00 to $210.00 and gave the stock a “buy” rating in a research note on Tuesday, June 30th. Needham & Company LLC lifted their price objective on Revolution Medicines from $235.00 to $236.00 and gave the company a “buy” rating in a report on Monday, July 20th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Revolution Medicines in a research note on Friday, July 17th. Two 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 company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $144.67.

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.