Algert Global LLC Boosts Position in Revolution Medicines, Inc. $RVMD

Algert Global LLC boosted its holdings in Revolution Medicines, Inc. (NASDAQ:RVMD) by 141.1% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 166,315 shares of the company’s stock after purchasing an additional 97,332 shares during the quarter. Algert Global LLC owned about 0.09% of Revolution Medicines worth $7,767,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in RVMD. GAMMA Investing LLC lifted its position in Revolution Medicines by 45.1% in the third quarter. GAMMA Investing LLC now owns 837 shares of the company’s stock valued at $39,000 after acquiring an additional 260 shares during the last quarter. Osaic Holdings Inc. grew its holdings in shares of Revolution Medicines by 41.7% during the second quarter. Osaic Holdings Inc. now owns 3,487 shares of the company’s stock worth $128,000 after purchasing an additional 1,027 shares during the last quarter. US Bancorp DE increased its position in shares of Revolution Medicines by 170.3% during the third quarter. US Bancorp DE now owns 3,168 shares of the company’s stock worth $148,000 after purchasing an additional 1,996 shares in the last quarter. Avanza Fonder AB increased its position in shares of Revolution Medicines by 17.5% during the third quarter. Avanza Fonder AB now owns 4,335 shares of the company’s stock worth $202,000 after purchasing an additional 647 shares in the last quarter. Finally, Arrowpoint Investment Partners Singapore Pte. Ltd. purchased a new stake in shares of Revolution Medicines in the 3rd quarter valued at about $205,000. 94.34% of the stock is currently owned by hedge funds and other institutional investors.

Revolution Medicines Price Performance

Revolution Medicines stock opened at $99.00 on Tuesday. The company has a market cap of $19.62 billion, a P/E ratio of -16.75 and a beta of 0.99. Revolution Medicines, Inc. has a one year low of $29.17 and a one year high of $124.49. The business has a fifty day moving average of $103.29 and a two-hundred day moving average of $75.66. The company has a debt-to-equity ratio of 0.16, a quick ratio of 7.14 and a current ratio of 7.14.

Revolution Medicines (NASDAQ:RVMD) last released its quarterly earnings data on Wednesday, February 25th. The company reported ($1.86) EPS for the quarter, missing analysts’ consensus estimates of ($1.56) by ($0.30). During the same period in the previous year, the firm earned ($1.12) EPS. As a group, analysts predict that Revolution Medicines, Inc. will post -3.49 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

RVMD has been the topic of several research analyst reports. Evercore raised Revolution Medicines to a “strong-buy” rating in a research report on Wednesday, February 25th. Benchmark restated an “overweight” rating on shares of Revolution Medicines in a research report on Tuesday, February 17th. Jefferies Financial Group initiated coverage on shares of Revolution Medicines in a report on Monday. They issued a “buy” rating on the stock. Wolfe Research initiated coverage on shares of Revolution Medicines in a research report on Tuesday, November 18th. They issued an “outperform” rating and a $75.00 price target for the company. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Revolution Medicines in a research note on Thursday, January 22nd. Four analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Revolution Medicines currently has an average rating of “Buy” and a consensus price target of $78.94.

Insider Activity

In related news, insider Mark A. Goldsmith sold 6,000 shares of the company’s stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $101.30, for a total value of $607,800.00. Following the sale, the insider owned 64,424 shares in the company, valued at $6,526,151.20. This represents a 8.52% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Margaret A. Horn sold 75,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 7th. The shares were sold at an average price of $100.56, for a total value of $7,542,000.00. Following the completion of the transaction, the chief operating officer directly owned 141,053 shares of the company’s stock, valued at $14,184,289.68. The trade was a 34.71% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 121,000 shares of company stock worth $12,166,400. Company insiders own 8.20% of the company’s stock.

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.