AXQ Capital LP Takes $282,000 Position in Revolution Medicines, Inc. $RVMD

AXQ Capital LP bought a new position in shares of Revolution Medicines, Inc. (NASDAQ:RVMD) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 7,658 shares of the company’s stock, valued at approximately $282,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. CWM LLC boosted its holdings in Revolution Medicines by 171.3% in the 2nd quarter. CWM LLC now owns 917 shares of the company’s stock worth $34,000 after buying an additional 579 shares during the last quarter. Banque Transatlantique SA purchased a new position in shares of Revolution Medicines in the first quarter valued at approximately $42,000. Quarry LP acquired a new stake in shares of Revolution Medicines in the first quarter worth approximately $50,000. Twin Tree Management LP purchased a new stake in shares of Revolution Medicines during the first quarter worth approximately $58,000. Finally, a16z Perennial Management L.P. purchased a new stake in shares of Revolution Medicines during the second quarter worth approximately $67,000. 94.34% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Revolution Medicines

In related news, insider Mark A. Goldsmith sold 30,000 shares of Revolution Medicines stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $60.31, for a total value of $1,809,300.00. Following the completion of the sale, the insider owned 347,863 shares in the company, valued at approximately $20,979,617.53. This trade represents a 7.94% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Margaret A. Horn sold 4,775 shares of the business’s stock in a transaction that occurred on Tuesday, September 16th. The shares were sold at an average price of $45.82, for a total value of $218,790.50. Following the completion of the sale, the chief operating officer directly owned 145,900 shares in the company, valued at approximately $6,685,138. The trade was a 3.17% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 258,033 shares of company stock worth $12,974,508. Company insiders own 8.20% of the company’s stock.

Revolution Medicines Stock Up 3.9%

Shares of RVMD opened at $73.66 on Tuesday. The company’s 50-day moving average price is $54.45 and its 200 day moving average price is $44.24. Revolution Medicines, Inc. has a 12-month low of $29.17 and a 12-month high of $73.98. The company has a current ratio of 8.05, a quick ratio of 8.05 and a debt-to-equity ratio of 0.16. The firm has a market cap of $14.24 billion, a P/E ratio of -14.25 and a beta of 1.25.

Revolution Medicines (NASDAQ:RVMD) last announced its earnings results on Wednesday, November 5th. The company reported ($1.61) earnings per share for the quarter, missing the consensus estimate of ($1.39) by ($0.22). During the same period in the prior year, the firm earned ($0.94) EPS. On average, sell-side analysts forecast that Revolution Medicines, Inc. will post -3.49 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. The Goldman Sachs Group lifted their target price on shares of Revolution Medicines from $65.00 to $73.00 and gave the stock a “buy” rating in a research note on Friday, September 12th. Wells Fargo & Company raised their price target on shares of Revolution Medicines from $67.00 to $70.00 and gave the stock an “overweight” rating in a research note on Thursday, September 11th. HC Wainwright boosted their price target on shares of Revolution Medicines from $72.00 to $73.00 and gave the stock a “buy” rating in a research report on Thursday, November 6th. Wedbush upped their price objective on shares of Revolution Medicines from $77.00 to $80.00 and gave the company an “outperform” rating in a research note on Thursday, November 6th. Finally, Lifesci Capital started coverage on shares of Revolution Medicines in a research note on Monday, August 18th. They issued an “outperform” rating and a $80.00 target price on the stock. Three research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $78.50.

Revolution Medicines Profile

Revolution Medicines, Inc, a clinical-stage precision oncology company, develops novel targeted therapies for RAS-addicted cancers. The company’s research and development pipeline comprises RAS(ON) inhibitors designed to be used as monotherapy in combination with other RAS(ON) inhibitors and/or in combination with RAS companion inhibitors or other therapeutic agents, and RAS companion inhibitors for combination treatment strategies.