PSquared Asset Management AG Acquires Shares of 138,290 Revolution Medicines, Inc. $RVMD

PSquared Asset Management AG purchased a new stake in Revolution Medicines, Inc. (NASDAQ:RVMD) during the first quarter, Holdings Channel reports. The firm purchased 138,290 shares of the company’s stock, valued at approximately $13,449,000. Revolution Medicines comprises 4.7% of PSquared Asset Management AG’s portfolio, making the stock its 10th biggest holding.

Other hedge funds also recently modified their holdings of the company. Meeder Advisory Services Inc. increased its holdings in Revolution Medicines by 3.0% during the 1st quarter. Meeder Advisory Services Inc. now owns 4,126 shares of the company’s stock valued at $401,000 after purchasing an additional 120 shares in the last quarter. PNC Financial Services Group Inc. grew its position in shares of Revolution Medicines by 1.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 10,066 shares of the company’s stock worth $802,000 after buying an additional 125 shares during the period. Deutsche Bank AG raised its position in shares of Revolution Medicines by 0.4% during the 4th quarter. Deutsche Bank AG now owns 32,217 shares of the company’s stock valued at $2,566,000 after acquiring an additional 130 shares during the last quarter. Signaturefd LLC increased 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 purchasing an additional 163 shares during the last quarter. Finally, Allworth Financial LP raised its position in shares of Revolution Medicines by 57.2% in the 4th quarter. Allworth Financial LP now owns 577 shares of the company’s stock valued at $46,000 after acquiring an additional 210 shares during the period. Institutional investors and hedge funds own 94.34% of the company’s stock.

Revolution Medicines Stock Up 3.1%

NASDAQ:RVMD opened at $188.75 on Friday. The stock has a 50-day simple moving average of $168.00 and a 200 day simple moving average of $131.32. Revolution Medicines, Inc. has a 52-week low of $34.00 and a 52-week high of $193.82. The company has a market cap of $40.13 billion, a PE ratio of -26.70 and a beta of 1.37. 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 released its earnings results on Wednesday, May 6th. The company reported ($2.29) EPS for the quarter, missing the consensus estimate of ($1.83) by ($0.46). During the same quarter in the previous year, the company posted ($1.13) earnings per share. On average, sell-side analysts expect that Revolution Medicines, Inc. will post -7.9 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have issued reports on RVMD shares. Sanford C. Bernstein assumed coverage on Revolution Medicines in a report on Thursday, May 21st. They issued a “market perform” rating and a $151.00 price target for the company. Guggenheim raised their target price on shares of Revolution Medicines from $205.00 to $235.00 and gave the stock a “buy” rating in a report on Thursday, July 9th. Royal Bank Of Canada lifted their price target on shares of Revolution Medicines from $165.00 to $182.00 and gave the company an “outperform” rating in a research note on Tuesday, June 2nd. HC Wainwright reissued a “buy” rating and set a $195.00 price objective on shares of Revolution Medicines in a research report on Monday, July 6th. Finally, Mizuho raised their price objective on shares of Revolution Medicines from $185.00 to $215.00 and gave the stock an “outperform” rating in a report on Monday, July 6th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Revolution Medicines has an average rating of “Moderate Buy” and an average target price of $144.67.

Insiders Place Their Bets

In other news, COO Margaret A. Horn sold 29,600 shares of the business’s stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $160.12, for a total value of $4,739,552.00. Following the sale, the chief operating officer owned 154,647 shares of the company’s stock, valued at $24,762,077.64. The trade was a 16.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Jack Anders sold 20,000 shares of the stock in a transaction on Wednesday, June 24th. The stock was sold at an average price of $168.33, for a total transaction of $3,366,600.00. Following the transaction, the chief financial officer owned 123,269 shares of the company’s stock, valued at $20,749,870.77. The trade was a 13.96% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 132,497 shares of company stock valued at $21,470,486 over the last 90 days. 7.60% of the stock is currently owned by company 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.