Atle Fund Management AB Boosts Position in Revolution Medicines, Inc. $RVMD

Atle Fund Management AB boosted its holdings in Revolution Medicines, Inc. (NASDAQ:RVMD) by 5.7% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 90,184 shares of the company’s stock after purchasing an additional 4,829 shares during the quarter. Revolution Medicines accounts for approximately 2.3% of Atle Fund Management AB’s investment portfolio, making the stock its 16th largest holding. Atle Fund Management AB’s holdings in Revolution Medicines were worth $7,183,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of RVMD. Indiana Trust & Investment Management Co purchased a new position in Revolution Medicines in the fourth quarter valued at approximately $32,000. Torren Management LLC purchased a new position in Revolution Medicines in the fourth quarter valued at approximately $33,000. Darwin Wealth Management LLC purchased a new position in Revolution Medicines in the fourth quarter valued at approximately $40,000. Allworth Financial LP raised its holdings in Revolution Medicines by 57.2% in the fourth quarter. Allworth Financial LP now owns 577 shares of the company’s stock valued at $46,000 after buying an additional 210 shares during the period. Finally, Signaturefd LLC raised its holdings in Revolution Medicines by 33.1% in the fourth quarter. Signaturefd LLC now owns 656 shares of the company’s stock valued at $52,000 after buying an additional 163 shares during the period. Hedge funds and other institutional investors own 94.34% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on RVMD shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Revolution Medicines in a research report on Tuesday, April 21st. Royal Bank Of Canada increased their price objective on shares of Revolution Medicines to $165.00 and gave the company an “outperform” rating in a research report on Thursday, May 7th. Stifel Nicolaus reaffirmed a “buy” rating on shares of Revolution Medicines in a research report on Monday, April 20th. Benchmark reaffirmed an “overweight” rating on shares of Revolution Medicines in a research report on Tuesday, February 17th. Finally, Truist Financial assumed coverage on shares of Revolution Medicines in a research report on Monday. They issued a “buy” rating and a $179.00 price objective for the company. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $108.88.

Insider Buying and Selling at Revolution Medicines

In related news, CFO Jack Anders sold 2,753 shares of Revolution Medicines stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $99.48, for a total transaction of $273,868.44. Following the sale, the chief financial officer directly owned 125,512 shares in the company, valued at $12,485,933.76. The trade was a 2.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Mark A. Goldsmith sold 120,000 shares of Revolution Medicines stock in a transaction dated Wednesday, April 15th. The shares were sold at an average price of $150.09, for a total transaction of $18,010,800.00. Following the sale, the insider owned 276,698 shares in the company, valued at approximately $41,529,602.82. This represents a 30.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 184,592 shares of company stock valued at $24,499,532. 8.20% of the stock is currently owned by insiders.

Revolution Medicines Stock Performance

RVMD stock opened at $147.30 on Wednesday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 6.80 and a current ratio of 6.80. The stock has a market capitalization of $31.32 billion, a price-to-earnings ratio of -20.83 and a beta of 1.41. Revolution Medicines, Inc. has a 1 year low of $34.00 and a 1 year high of $155.70. The stock’s fifty day moving average is $120.60 and its two-hundred day moving average is $99.54.

Revolution Medicines (NASDAQ:RVMD) last posted its earnings results on Wednesday, May 6th. The company reported ($2.29) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.83) by ($0.46). During the same quarter in the prior year, the company posted ($1.13) earnings per share. On average, research analysts predict that Revolution Medicines, Inc. will post -7.75 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.