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

SCS Capital Management LLC bought a new stake in Revolution Medicines, Inc. (NASDAQ:RVMD) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 3,867 shares of the company’s stock, valued at approximately $724,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Bank of New York Mellon Corp acquired a new position in Revolution Medicines during the second quarter valued at approximately $112,566,000. Centric Wealth Management acquired a new position in shares of Revolution Medicines during the 2nd quarter worth approximately $505,000. Focus Partners Advisor Solutions LLC bought a new stake in shares of Revolution Medicines during the 2nd quarter worth approximately $305,000. State of Wyoming bought a new stake in shares of Revolution Medicines during the 2nd quarter worth approximately $1,769,000. Finally, S&CO Inc. bought a new stake in shares of Revolution Medicines during the 2nd quarter worth approximately $6,399,000. Institutional investors own 94.34% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on RVMD. Stifel Nicolaus reissued a “buy” rating on shares of Revolution Medicines in a research note on Monday, April 20th. Piper Sandler upped their price target on shares of Revolution Medicines to $172.00 and gave the stock an “overweight” rating in a research report on Thursday, May 7th. Wolfe Research reiterated an “outperform” rating and issued a $220.00 price target on shares of Revolution Medicines in a research note on Monday, August 10th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Revolution Medicines in a research note on Friday, July 17th. Finally, Needham & Company LLC lifted their price objective on shares of Revolution Medicines from $236.00 to $240.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Revolution Medicines has an average rating of “Moderate Buy” and an average price target of $161.79.

Revolution Medicines Stock Performance

RVMD opened at $203.71 on Monday. Revolution Medicines, Inc. has a 12-month low of $35.42 and a 12-month high of $208.76. The stock has a market cap of $43.66 billion, a price-to-earnings ratio of -23.10 and a beta of 1.39. The business has a 50 day moving average of $181.62 and a 200-day moving average of $140.79. The company has a quick ratio of 11.38, a current ratio of 11.38 and a debt-to-equity ratio of 0.40.

Revolution Medicines (NASDAQ:RVMD) last issued its earnings results on Wednesday, August 5th. The company reported ($3.06) EPS for the quarter, missing the consensus estimate of ($2.04) by ($1.02). During the same period in the prior year, the company posted ($1.31) earnings per share. On average, equities research analysts expect that Revolution Medicines, Inc. will post -8.82 earnings per share for the current year.

Insider Buying and Selling at Revolution Medicines

In other Revolution Medicines news, insider Stephen Michael Kelsey sold 4,175 shares of Revolution Medicines stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $156.12, for a total transaction of $651,801.00. Following the completion of the transaction, the insider directly owned 291,876 shares of the company’s stock, valued at $45,567,681.12. The trade was a 1.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through 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 Revolution Medicines stock in a transaction on 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 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 SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders have sold 132,497 shares of company stock worth $21,470,486. 7.60% of the stock is currently owned by corporate insiders.

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.