Calamos Advisors LLC Buys 3,003 Shares of Revolution Medicines, Inc. $RVMD

Calamos Advisors LLC increased its position in shares of Revolution Medicines, Inc. (NASDAQ:RVMD) by 24.1% during the first quarter, HoldingsChannel reports. The fund owned 15,463 shares of the company’s stock after buying an additional 3,003 shares during the quarter. Calamos Advisors LLC’s holdings in Revolution Medicines were worth $1,504,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in RVMD. J. Safra Sarasin Holding AG grew its stake in shares of Revolution Medicines by 170.4% in the first quarter. J. Safra Sarasin Holding AG now owns 21,001 shares of the company’s stock worth $2,042,000 after purchasing an additional 13,235 shares during the last quarter. Fifth Third Bancorp lifted its stake in Revolution Medicines by 8,972.9% in the first quarter. Fifth Third Bancorp now owns 9,708 shares of the company’s stock valued at $944,000 after buying an additional 9,601 shares during the period. Hsbc Holdings PLC lifted its position in shares of Revolution Medicines by 1,055.4% during the 1st quarter. Hsbc Holdings PLC now owns 32,791 shares of the company’s stock valued at $3,192,000 after acquiring an additional 29,953 shares during the period. Sumitomo Mitsui Trust Group Inc. boosted its position in shares of Revolution Medicines by 4,828.6% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 270,972 shares of the company’s stock worth $26,352,000 after purchasing an additional 265,474 shares in the last quarter. Finally, Resona Asset Management Co. Ltd. bought a new position in Revolution Medicines in the first quarter worth approximately $4,024,000. 94.34% of the stock is owned by institutional investors.

Revolution Medicines Price Performance

RVMD stock opened at $179.18 on Friday. The stock has a market cap of $38.09 billion, a PE ratio of -25.34 and a beta of 1.37. The company has a debt-to-equity ratio of 0.19, a current ratio of 6.80 and a quick ratio of 6.80. Revolution Medicines, Inc. has a one year low of $34.00 and a one year high of $193.82. The firm has a 50 day simple moving average of $164.18 and a two-hundred day simple moving average of $127.64.

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

Insiders Place Their Bets

In other Revolution Medicines news, Director Sushil Patel sold 5,580 shares of the stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $187.99, for a total value of $1,048,984.20. Following the completion of the sale, the director owned 21,656 shares in the company, valued at approximately $4,071,111.44. This trade represents a 20.49% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Jack Anders sold 20,000 shares of Revolution Medicines stock in a transaction on Wednesday, June 24th. The shares were sold at an average price of $168.33, for a total transaction of $3,366,600.00. Following the completion of the sale, the chief financial officer owned 123,269 shares in the company, valued at approximately $20,749,870.77. This trade represents a 13.96% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 132,497 shares of company stock worth $21,470,486. Insiders own 7.60% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on RVMD shares. Sanford C. Bernstein assumed coverage on shares of Revolution Medicines in a research note on Thursday, May 21st. They set a “market perform” rating and a $151.00 price target for the company. Needham & Company LLC lifted their price target on Revolution Medicines from $183.00 to $235.00 and gave the stock a “buy” rating in a report on Monday, June 29th. Evercore reaffirmed an “outperform” rating on shares of Revolution Medicines in a research report on Tuesday, April 14th. Stifel Nicolaus restated a “buy” rating on shares of Revolution Medicines in a research note on Monday, April 20th. Finally, Guggenheim upped their price target on shares of Revolution Medicines from $205.00 to $235.00 and gave the company a “buy” rating in a research note on Thursday, July 9th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Revolution Medicines presently has a consensus rating of “Moderate Buy” and a consensus target price of $144.00.

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.