Holocene Advisors LP Lowers Holdings in Revolution Medicines, Inc. $RVMD

Holocene Advisors LP lowered its holdings in Revolution Medicines, Inc. (NASDAQ:RVMD) by 1.6% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,632,952 shares of the company’s stock after selling 58,792 shares during the quarter. Holocene Advisors LP owned 1.94% of Revolution Medicines worth $133,656,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of RVMD. S&CO Inc. boosted its stake in Revolution Medicines by 54.5% during the second quarter. S&CO Inc. now owns 14,171 shares of the company’s stock worth $521,000 after buying an additional 5,000 shares during the period. Y Intercept Hong Kong Ltd purchased a new stake in shares of Revolution Medicines in the 2nd quarter valued at approximately $3,639,000. Harbor Capital Advisors Inc. lifted its holdings in shares of Revolution Medicines by 64.7% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 58,323 shares of the company’s stock worth $2,146,000 after acquiring an additional 22,906 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH boosted its position in shares of Revolution Medicines by 7.6% during the 2nd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 71,311 shares of the company’s stock worth $2,624,000 after purchasing an additional 5,060 shares during the period. Finally, Catalyst Funds Management Pty Ltd purchased a new position in shares of Revolution Medicines during the 2nd quarter worth approximately $1,678,000. 94.34% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have issued reports on RVMD. The Goldman Sachs Group boosted their target price on Revolution Medicines from $65.00 to $73.00 and gave the company a “buy” rating in a research report on Friday, September 12th. Mizuho initiated coverage on Revolution Medicines in a research note on Tuesday, October 21st. They set an “outperform” rating and a $90.00 target price on the stock. Needham & Company LLC raised their target price on Revolution Medicines from $66.00 to $72.00 and gave the company a “buy” rating in a report on Thursday, November 6th. Stifel Nicolaus began coverage on shares of Revolution Medicines in a research note on Wednesday, October 15th. They set a “buy” rating and a $85.00 price target on the stock. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Revolution Medicines in a research note on Wednesday, October 8th. Four investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Revolution Medicines currently has an average rating of “Buy” and an average target price of $78.50.

Insider Buying and Selling at Revolution Medicines

In other news, CFO Jack Anders sold 2,320 shares of the company’s stock in a transaction dated Tuesday, September 16th. The stock was sold at an average price of $45.82, for a total transaction of $106,302.40. Following the completion of the transaction, the chief financial officer directly owned 110,994 shares of the company’s stock, valued at approximately $5,085,745.08. This represents a 2.05% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Lin Wei sold 2,160 shares of the stock in a transaction dated Tuesday, September 16th. The shares were sold at an average price of $45.82, for a total value of $98,971.20. Following the completion of the transaction, the insider owned 88,339 shares in the company, valued at approximately $4,047,692.98. The trade was a 2.39% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 208,033 shares of company stock worth $12,670,322. 8.20% of the stock is currently owned by company insiders.

Revolution Medicines Stock Performance

Shares of Revolution Medicines stock opened at $78.92 on Friday. The business has a 50-day simple moving average of $63.70 and a 200-day simple moving average of $47.87. The company has a market cap of $15.26 billion, a PE ratio of -15.26 and a beta of 0.96. Revolution Medicines, Inc. has a one year low of $29.17 and a one year high of $81.49. The company has a debt-to-equity ratio of 0.16, a quick ratio of 8.05 and a current ratio of 8.05.

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

Revolution Medicines Company 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.