Harbor Capital Advisors Inc. Cuts Stake in Revolution Medicines, Inc. $RVMD

Harbor Capital Advisors Inc. lowered its stake in shares of Revolution Medicines, Inc. (NASDAQ:RVMD) by 63.0% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 21,590 shares of the company’s stock after selling 36,733 shares during the quarter. Harbor Capital Advisors Inc.’s holdings in Revolution Medicines were worth $1,008,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Nextech Invest Ltd. boosted its stake in Revolution Medicines by 20.7% in the fourth quarter. Nextech Invest Ltd. now owns 7,601,087 shares of the company’s stock valued at $332,472,000 after acquiring an additional 1,304,347 shares during the last quarter. Jump Financial LLC purchased a new position in Revolution Medicines in the first quarter valued at approximately $287,000. B. Metzler seel. Sohn & Co. AG lifted its stake in Revolution Medicines by 50.1% in the first quarter. B. Metzler seel. Sohn & Co. AG now owns 25,821 shares of the company’s stock valued at $913,000 after purchasing an additional 8,622 shares during the last quarter. Landscape Capital Management L.L.C. bought a new position in Revolution Medicines during the first quarter valued at $609,000. Finally, Trexquant Investment LP bought a new stake in shares of Revolution Medicines in the first quarter valued at $2,094,000. Hedge funds and other institutional investors own 94.34% of the company’s stock.

Insider Activity

In related news, insider Stephen Michael Kelsey sold 25,000 shares of the business’s stock in a transaction dated Monday, October 13th. The stock was sold at an average price of $48.54, for a total transaction of $1,213,500.00. Following the completion of the transaction, the insider directly owned 284,047 shares in the company, valued at $13,787,641.38. The trade was a 8.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Margaret A. Horn sold 4,847 shares of the company’s stock in a transaction dated Tuesday, December 16th. The stock was sold at an average price of $76.82, for a total value of $372,346.54. Following the completion of the transaction, the chief operating officer owned 141,053 shares in the company, valued at $10,835,691.46. This represents a 3.32% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 183,792 shares of company stock valued at $12,449,240 in the last quarter. 8.20% of the stock is currently owned by company insiders.

Revolution Medicines Trading Down 0.5%

Shares of RVMD opened at $80.75 on Friday. Revolution Medicines, Inc. has a twelve month low of $29.17 and a twelve month high of $81.97. The stock has a market cap of $15.61 billion, a PE ratio of -15.62 and a beta of 0.96. The company has a quick ratio of 8.05, a current ratio of 8.05 and a debt-to-equity ratio of 0.16. The business’s 50-day moving average price is $69.86 and its 200-day moving average price is $50.69.

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

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Needham & Company LLC increased their price target on Revolution Medicines from $66.00 to $72.00 and gave the stock a “buy” rating in a research note on Thursday, November 6th. Stifel Nicolaus began coverage on shares of Revolution Medicines in a report on Wednesday, October 15th. They set a “buy” rating and a $85.00 price objective on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Revolution Medicines in a research report on Wednesday, October 8th. Wells Fargo & Company boosted their price target on shares of Revolution Medicines from $67.00 to $70.00 and gave the company an “overweight” rating in a research report on Thursday, September 11th. Finally, The Goldman Sachs Group upped their price target on shares of Revolution Medicines from $65.00 to $73.00 and gave the company a “buy” rating in a research note on Friday, September 12th. Four investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $78.50.

Revolution Medicines 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.